Forex reserves rise to record $18.31 billion

A senior official in the State Bank of Pakistan's reserves of foreign currencies rose to a record high of $ 18310000000 in the week ending July 30, until the life of the previous high of 18.3 billion dollars a week before the strike on Thursday - KARACHI

The chief spokesman for Mr. SBP Wasimuddin reserves of the State Bank of Pakistan (SBP) jumped to 14.78 billion dollars from 14.74 billion dollars a week earlier, while those held by commercial banks fell to $ 3.53 billion from 3.56 billion dollars.
And increased reserves, Pakistan's foreign exchange in the month of June of flows of $ 411 million, including a loan of U.S. $ 191.9 million from the World Bank, and another loan of 196.8 million from the Asian Development Bank.
And helped export revenues, and higher flow of remittances of foreign exchange reserves of Pakistan is growing steadily.

According to official data, remittances rose to a record $ 11.2 billion in fiscal year 2010/11, an increase of 25.77 percent compared with the same period last year. In May 2010, Pakistan has received $ 1.13 billion in the fifth tranche of the Fund's $ 11 billion International Monetary (IMF) rescue program.
The International Monetary Fund and Pakistan is scheduled to meet officials in July to discuss the possibility of the release of the sixth tranche, but the delay was announced as yet no new date has been.