Pakistan foreign exchange reserves hit US$ 24.5 billion

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ISLAMABAD  – It has been reported on Friday that foreign exchange reserves of Pakistan have hit a historic high with US$ 24.5 billion.

The announcement was made by Federal Minister for Finance, Ishaq Dar in a briefing during which he expressed exhilaration by saying that there was a time when the country had reserves equal to a few weeks of payment of import bill but now were equal to that of six months.

The State Bank of Pakistan (SBP) has reserves of USD 18.5 billion while commercial banks have at least USD 5 billion, he said.

He credited the leadership of Prime Minister Nawaz Sharif for the achievement.