Forex inches up by 1.8% WoW to USD 15.236 bn – Alfalah Securities Limited

Karachi, July 06, 2012 (PPI-OT): Pakistan’s liquid foreign exchange reserves have increased by 1.818% wow or USD 272 mn to USD 15.236 bn in the week ending June 29 from USD 14.964 bn in the previous week.

According to Alfalah Securities Limited, the foreign exchange reserves held by the SBP increased by USD 266 mn to USD 10.801 bn from USD 10.535 bn a week earlier. Likewise, reserves held by commercial banks also inched up slightly by USD 6 mn to USD 4.434 bn as against USD 4.428 billion in previous week. The increase in reserves is mainly attributed to higher inflows arising from external financing in projects by foreign donor agencies and high inflow of workers’ remittances.