Pakistan forex reserves surge to record high

SLAMABAD: Pakistan’s foreign exchange reserves have surged to a record high of $18.31 billion, a central bank official said Thursday.

Syed Wasimuddin, spokesman of the State Bank of Pakistan (SBP) said that the new record was due to a rise in remittances from overseas Pakistanis and a jump in exports.

Reserves had also peaked in the first week of July at $17.95 billion, the SBP said.

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