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Forex reserves increased by 50% during FY 2013-14: SBP

July 4, 2014

Foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by more than 50% in 2013-14, data released by the central bank on Thursday showed.

Although foreign exchange reserves held by the SBP recorded a week-on-week nominal decrease of 1.7% on June 27, their year-on-year increase was clocked at 50.3%, with the reserves reaching $9.033 billion on the second-last day of fiscal year 2013-14. Foreign exchange reserves held by the central bank amounted to $6.008 billion at the end of FY 2012-13, SBP data shows.

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Source: National Herald Tribune (Pakistan)

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