20000402

Forex reserves

stand at $1.507bn

KARACHI: Foreign Exchange reserves of the State Bank of Pakistan stood at 1507.2 million dollars as March 31, 2000.

According to the central bank sources the net cumulative placement with the State Bank of foreign exchange deposits mobilised in terms of Foreign Exchange Circular No 25 of 1998 with the State Bank amounts to 327.4 million dollars on the same date.

According to the SBP the application rates of remuneration of deposits placed with it during the month of April 2000 will be as under:

One week 4.25 percent

One month 4.50 percent

Three months 4.80 percent.ÑAPP