The country''s foreign exchange reserves rose to all time high level of $18.31 billion up by $9.8 million week ending on July 30, 2011. According to State Bank of Pakistan (SBP), previously liquid foreign reserves were stood at record level of $18.30 billion a week earlier. Reserves held by the State Bank of Pakistan (SBP) have mounted by $35.3 million to $14.778 billion from $14.743 billion a week ago.
However, reserves held by commercial banks fell by $25.5 million to $3.534 billion from $3.559 billion. Bankers said that the country''s foreign exchange reserves were increased in June by inflows of $411 million, including a loan of $191.9 million from the World Bank, and another loan of $196.8 million from the Asian Development Bank. In addition, rising export proceeds and a record inflow of remittances have also helped forex reserves to grow steadily and touched historical level of $18.31 billion.
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