Karachi: Pakistan’s foreign exchange reserves remained unchanged at $17.52 billion in the week ending June 18, as compared to the previous week.
State Bank of Pakistan (SBP) chief spokesman Syed Wasimuddin told The News Tribe that the reserves held by SBP swelled to $14.11 billion from $14.09 billion a week ago.
He further said that reserves held by commercial banks decreased to $3.41 billion from $3.43 billion.
Forex reserves of the country have increased in recent month due to the higher export proceeds, as well as record inflow of remittances, hitting an all-time high of $17.95 billion during the week that ended on March 26.
However, recently the reserves have dipped slightly mainly due to debt repayments.
Remittances sent by overseas Pakistanis crossed $10 billion for the first time, hitting $10.1 billion in the first 11 months of the 2010/11 fiscal year, an increase of 25.20 percent compared with the same period last year, according to SBP data.
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