Pakistan's foreign exchange reserves rise to $20.07b

09:31 PM | 1 Oct, 2015
Pakistan's foreign exchange reserves rise to $20.07b
ISLAMABAD (Web Desk) - Pakistan's foreign exchange reserves have risen to the historic level of 20.07 billion dollars.

Addressing a news conference in Islamabad on Thursday evening, Finance Minister Ishaq Dar said with this the government has fulfilled its commitment to take foreign exchange reserves to 20 billion dollars.

He said out of 20.07 billion dollars, 15.24 billion are with the State Bank of Pakistan and the rest 4.83 billion dollars with commercial banks.

The Minister said the government received different transactions worth 1.6 billion dollars since yesterday, which pushed up the reserves. These included 500 million dollars each of Euro Bond and IMF tranche; 375 billion dollars of Coalition Support Fund and another transaction of 265 billion dollars.

Ishaq Dar said the so much rise in foreign exchange reserves was unthinkable in February last year when reserves with the State Bank were just 2.75 billion dollars.