Pakistan''s foreign exchange reserves rise to $16.69 billion

Pakistan''s foreign exchange reserves inched up to $16.69 billion in the week ending December 9 compared with $16.68 billion in the previous week because of an increase in the reserves of commercial banks, the central bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) fell to $12.81 billion, compared with $12.86 billion the previous week.
Reserves held by commercial banks rose to $3.88 billion, compared with $3.82 billion from the previous week. The reserves were boosted in June by inflows of $411 million, including a $191.9 million loan from the World Bank, and a loan of $196.8 million from the Asian Development Bank.