Business

Foreign exchange reserves cross $15bn

ISLAMABAD: After receiving two tranches of $1.1 billion from International Monetary Fund, the foreign exchange reserves of the country have surpassed $ 15 billion, ARY News reported.

Finance Minister Ishaq Dar called on Prime Minister Nawaz Sharif in Islamabad today and briefed him about measures that are being taken to increase foreign exchange reserves of the country.

Ishaq Dar further informed that State Bank of Pakistan holds $10 billion while commercial banks having foreign exchange reserves of more than $5 billion.

On the other hand, Governor of State Bank while talking to traders in Karachi said that inflation has been declined while reduction in interest rate will be reviewed.

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