| GEO Business | | Foreign exchange reserves rise by $186.1 mn | Updated at: 2041 PST, Thursday, October 09, 2008
 KARACHI: Foreign exchange reserves of the country have shown some recovery after a very long peiod as they increase by 186.1 million dollars to 8.32 billion.
Data released by State Bank shows that between 25 September and October 4 it's reserves rose by 180.3 million dollars to touch 4.9 billion.
While those held by commercial banks inched up by 5.8 million dollars to stand at 3.46 billion.
Asian Development Bank on Sept. 30 approved a 500 million dollar loan to help Pakistan deal with mounting economic woes.
The first installement of the loan has come in and this has augmented the reserves..
The country's foreign exchange reserves hit an all-time high of $16.5billion in October last year, but have been falling since due to weak economic fundamentals, political uncertainty andsecurity concerns. |  |
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