Forex reserves top $16 billion
Bureau Report

KARACHI—Foreign exchange reserves of Pakistan have exceeded from $16 billion during the week ended on September 1. During this period, an increase was seen in the reserves of the central bank whereas decrease was seen in the reserves of the commercial banks.
According to the chief spokesman of the State Bank of Pakistan, Syed Waseemuddin, reserves of foreign exchange, after an increase of $260 million during the week ending September 1, reached $16.0789 billion which is the highest level in the history of the country.
During the same period, reserves available with the central bank after an increase of $289.9 billion reached $13.804 billion whereas reserves with commercial banks after a fall of $29.2 million came down at the level of $2.2749 billion.