Updated on
Summary
Pakistan's foreign exchange reserves reached an all-time high of $17.20 billion in the week ended Jan. 1, boosted by U.S. funding released for providing military and logistical support, a central bank spokesman said Thursday. The South Asian economy's reserves were $16.42 billion in the week ended Dec. 25. The previous high was $17.10 billion in the week to Oct. 15. Last week the central bank received $633 million from the U.S. government under the Coalition Support Fund, which is designed to reimburse Pakistan for expenses incurred fighting extremist groups. Foreign exchange reserves held by the central bank rose to $13.53 billion from $12.71 billion, while foreign exchange deposits with commercial banks decreased to $3.67 billion from $3.72 billion a week earlier, the State Bank of Pakistan said Thursday.
