KARACHI: The country?s foreign exchange reserves have once again crossed the mark of $10 billion, State bank of Pakistan (SBP) announced in its weekly forex report on Thursday. Forex reserves rose by $259.2 million or 2.6 per cent to $10,207.9 million on Jan 24 compared to $9,948.7 million on Jan 17, the SBP notified. Farhan Rizvi at JS Research said that the country?s reserves improved beyond $10 billion owing to $500 million soft loan from China and $101 million logistic disbursement from the US for the war on terror. Break-up shows foreign reserves held by the SBP increased to $6,872.9 million during the week ended on Jan 24 as compared to $6,584.6 million last week. Net foreign reserves held by banks (other than SBP) reduced to $3,335 million against $3,364.1 million last week.
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