The country's total liquid foreign exchange reserves reached highest-ever level of $16.788 billion because of high foreign inflows sent by overseas Pakistanis. According to the State Bank of Pakistan the country's total liquid foreign exchange reserves posted an increase of $156.4 million to $16.788 billion on week ended on September 24, 2010 from $16.632 billion a week earlier.
Earlier, the country's liquid foreign exchange reserves were at peak level of $16.76 billion on July 2, 2010. The major raise has been witnessed in the reserves held by the SBP, which reached near $13 billion level. Reserves held by the SBP increased by $156.4 million to $12.99 billion during the last week as compared to $12.794 billion a week earlier.
Foreign exchange reserves held by banks witnessed declining trend as they fell by $41.7 million during the last week. With current decline, overall forex reserves held by banks rose to $3.816 billion as compared to $3.7665 billion a week earlier. Sources said during the last week the country also received $451 million from the International Monetary Fund on account of Emergency Natural Disaster Assistance (ENDA) for flood victims.
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