Forex reserves rise to $16.69b

KARACHI (Reuters) - Pakistans foreign exchange reserves inched up to $16.69 billion in the week ending Dec. 9 compared with $16.68 billion in the previous week because of an increase in the reserves of commercial banks, the State Bank said on Thursday. Reserves held by the SBP fell to $12.81 billion, compared with $12.86 billion the previous week. Reserves held by commercial banks rose to $3.88 billion, compared with $3.82 billion from the previous week. Foreign exchange reserves hit a record $18.31 billion in the week ending July 30, but have since eased due to debt repayments. The reserves were boosted in June by inflows of $411 million, including a $191.9 million loan from the WB, and $196.8m from the ADB.

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