Monday, December 27, 2010

Pakistan Forex Reserves Likely To Reach All-Time High - Official

 Pakistan Forex Reserves Likely To Reach All-Time High - Official 

Pakistan's foreign exchange reserves are likely to rise to an all-time high in the week ended Dec. 25, boosted by U.S. funding last week for providing military and logistical support to fight extremist groups, a senior central bank official said Monday.

The official didn't want to be named.
The south Asian economy's reserves were $16.39 billion in the week ended Dec. 18. The reserves were at their highest--$17.10 billion--in the week to Oct. 15.
The State Bank of Pakistan will release the data for the week to Dec. 25 on Thursday.

The central bank said Friday it received $633 million from the U.S. government under the Coalition Support Fund, which is designed to reimburse Pakistan for expenses incurred to fight violent extremist groups.
Reserves of the strife-torn nation, whose problems have deepened since the unprecedented floods in July, have been increasing as aid flows in from international donor agencies, friendly nations and Pakistanis living

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