Islamabad: According to the Ministry of Finance, the total foreign exchange reserves have increased by one billion 598 million dollars during one year. According to the report of the Ministry of Finance, the value of the rupee increased by 21 rupees 13 paise against one dollar in one year.
It has been stated in the report that an increase of 1 billion 53 million dollars was recorded in the reserves of the State Bank and 68 million dollars in the reserves of commercial banks, while the total foreign exchange reserves have reached 14 billion 776 million dollars.
In the report, the foreign exchange reserves and the value of the rupee are likely to increase further after the approval of the IMF’s new loan program. According to the Ministry of Finance, State Bank reserves are 9 billion 403 million dollars and commercial banks have 5 billion 373 million dollars.
The Ministry of Finance says that a year ago, the total foreign exchange reserves were 13 billion 178 million dollars, in which the State Bank had 7 billion 873 million dollars and the commercial banks had 5 billion 30 million dollars. Accordingly, one dollar has reached 278 rupees 51 paise, while one dollar was worth 299 rupees 51 paise a year ago.
