FOREX

Pakistan’s forex reserves continue to see healthy growth with the latest figures showing a $260M increase since the 1st of January, 2009. The total pool of reserves now stands at $10.21BN. With additional measures being taken to shrink the trade gap – which has already seen a major reduction – the reserves are expected to continue to rise. The $10.21BN amount does NOT include the bulk of the IMF package approved for Pakistan. An additional $4.5BN is still to be released by the IMF