Forex reserves plummet

KARACHI—The total liquid foreign reserves held by the country stood at $ 13,499.1 million on 22nd March, 2008. This was stated in a news release issued by SBP here on Thursday. The break-up of the foreign reserves position is as under: i) Foreign reserves held by the State bank of Pakistan $ 11,356.2 million. ii) Net foreign reserves held by banks (other than SBP) $ 2,142.9 million. iii) Total liquid foreign reserves $ 13,499.1 million. Pakistan’s current account deficit widened to $8.421 billion in the first eight months of the 2007/08 fiscal year, the State Bank of Pakistan said on its Web site on Thursday. That compared with $5.857 billion in the same period last year.—Agencies