Forex reserves rise to $14.48b

KARACHI (Reuters) - Pakistans foreign exchange reserves rose to $14.48 billion in the week that ended on Sept. 19 compared with $14.36 billion the previous week, the central bank said on Thursday.
Reserves held by the State Bank of Pakistan rose to $10.94 billion from $10.84 billion a week earlier, while those held by commercial banks also edged up to $3.54 billion from $3.52 billion a week earlier, the central bank said in a statement.
Foreign reserves hit a record high of $16.5 billion in October 2007 but fell steadily to $6.6 billion by November last year, largely because of a soaring import bill.
However, an International Monetary Fund emergency loan package of $7.6 billion agreed in November helped avert a balance of payments crisis and shore up reserves.
The IMF, which increased the loan to $11.3 billion in July, has disbursed a total $5.148 billion.