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Summary Pakistan's foreign exchange reserves have surged to a record high of $18.31 billion.
Pakistans foreign exchange reserves have surged to a record high of $18.31 billion, a State Bank of Pakistan official said Thursday.The new record was due to a rise in remittances from overseas Pakistanis and a jump in exports, State Bank of Pakistan (SBP) spokesman Syed Wasimuddin said. Reserves had also peaked in the first week of July at $17.95 billion, the SBP said.In January, Washington transferred more than $633 million to the Pakistani government to help pay for the fight against Islamist extremists, which also boosted foreign exchange reserves.
