Updated on
Summary
Pakistan's foreign exchange reserves rose to $16.12 billion in the week ending on Aug. 27, from $16.11 billion a week earlier, the central bank said on Thursday. Reserves held by the State Bank of Pakistan (SBP) rose to $12.37 billion from $12.35 billion, while those held by commercial banks fell to $3.75 billion from $3.76 billion, said Syed Wasimuddin, the SBP's chief spokesman.Pakistan's forex reserves rose to a record high of $16.77 billion in the week ending on July 2 thanks to foreign inflows worth $750 million received that week.The previous record high was $16.45 billion in October 2007.
