Marked improvement in forex reserves: SBP

ISLAMABAD: Governor State Bank of Pakistan (SBP) Syed Salim Raza Saturday said the foreign exchange reserves have risen to a level equivalent to 5-month import bill of the country while the credit rating of Pakistan has also improved.

Addressing a forum on the topic of micro finance, the SBP Governor said amendments have been made in the rule and regulations governing extension of small loans. This will make the availability of small loans easier, he added.

He underlined need for increasing the number of accounts in micro finance banks.

Syed Salim Raza said the foreign exchange reserves of the country have shown marked improvement while steps are underway for keeping the inflation under control.

He said the next monetary policy will be announced on November 24.