ISLAMABAD – The foreign exchange reserves of Pakistan have increased to $9.84 billion after much-needed funds were transferred by IMF and payments deposited by Saudi Arabia and UAE.
State Bank of Pakistan said foreign exchange reserves increased by $61 million to $4,524.0 million during the current week, following an inflow of $2.0 billion from the Kingdom of Saudi Arabia, $1.0 billion from the United Arab Emirates; and $1.2 billion from IMF.
The central bank said these inflows were reflected in the Foreign Exchange reserves for the week ending on July 14, 2023.
As of July 13, the total liquid foreign reserves held by South Asian nation were recorded at $9.83 billion, while net foreign reserves with commercial banks were recorded at $5.31 billion.
Earlier this week, the top officials of a US-based lender gave nod to a nine-month Stand-by Arrangement for an amount of $3 billion to support crisis-hit Pakistan.
