Forex reserves hit record high of $24.461bln

KARACHI: Pakistan’s foreign exchange reserves surged to an all-time high of $24.461 billion during the week ended October 14 after it received $1 billion proceeds against Pakistan Sukuk Bonds, the central bank said on Thursday. 

The reserves stood at $23.492 billion in the previous week.  The forex reserves held by the State Bank of Pakistan posted an increase of $1.052 billion to stand at $19.462 billion against $18.410 billion a week earlier.  

The forex reserves of commercial banks amounted to $4.999 billion as compared to $5.081 billion in the preceding week.