ISLAMABAD: Federal Finance Minister Ishaq Dar has revealed that the country’s foreign currency reserves has increased to $18.2 billion, touching the highest-ever mark.
The reserves held by the State Bank of Pakistan (SBP) stood at over $13 billion while foreign currencies held by commercial banks were at $5 billion. The foreign currency reserves are bound to increase further by $500 million before June 30, 2015 as the IMF’s executive board is all set to approve the next tranche on Friday (today) when its executive board is scheduled to meet in Washington, DC, to consider Pakistan’s case. The WB’s budgetary amount of $500 million was received by the SBP during this week that helped the government to cross the envisaged limit of $18.2 billion before end June 2015.
