Pakistan to establish forex reserves system

PAKISTAN - The State Bank of Pakistan (SBP) is putting in place a forex reserves management system (FRMS) in order to earn maximum return for the country.

Addressing a press conference on Tuesday, the Governor SBP, Dr Ishrat Hussain said when reserves were a bit over one billion dollars, what we could do was to keep these dollars on overnight basis with AAA banks.

But with the improvement in forex reserves, we would put such professional placement of our reserves in other currencies like dollar

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