Pakistan''s foreign exchange reserves cross $15.6 billion mark

Country''s foreign exchange reserve show a tremendous growth of 2.4768 billion dollars to the historic level of over 15.6 billion dollars in the 2006-07 fiscal year.
The historical achievement of this record level of foreign exchange reserves has been made possible by the healthy growth in external flows during 2007 fiscal year, including foreign direct investment (FDI), home remittances, portfolio investment, proceeds of the recent successful launch of Pakistan Euro Bonds and the global depository receipts in the international financial markets, State Bank of Pakistan (SBP) said.
The central bank on Thursday issued statistics of foreign reserves, which witnessed an increase of around 19 percent during the last fiscal year, which ended on June 30, as it has reached 15.6137-billion benchmark as compared to 13.1369 billion dollars during the 2005-06 fiscal year.