|  | 

Government & Politics

Federal Reserves eases to USD 17.9bn – Alfalah Securities Limited

Karachi: The Foreign exchange reserves have eased to USD 17.9 bn as of August 27th, 2011 against USD 17.96 bn on August 20th 2011, depicting a decrease of 0.33% on WoW basis. Reserves held by the State Bank of Pakistan (SBP) fell to USD 14.45 bn from USD 14.5 bn against the previous week, while those held by commercial banks stood at USD 3.45 bn from USD 3.46 bn in the corresponding period.

According to Alfalah Securities Limited, foreign exchange reserves touched a record level of USD 18.31 bn in the week ended on July 30 2011, owing to high inflows from remittances and loan from the World Bank and Asian Development Bank. However, the Forex reserves have eased since then owing to scheduled debt repayments.

federal-reserves-eases-to-usd-17-9bn-%e2%80%93-alfalah-securities-limited-2

ABOUT THE AUTHOR

POST YOUR COMMENTS

About Us

Yes, it is true that the Business Observer does what its name reveals, means covering the news from all the industries, which are putting their efforts into accelerating the economy of Pakistan. The website is the trustworthy business news website and its name is taken among those business websites of Pakistan.

Monthly Archives