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State Bank of Pakistan’s reserves up to $8.12bn

ISLAMABAD: The foreign exchange reserves of the State Bank of Pakistan (SBP) increased to $8.12 billion  as of March 8, up by $6mn, according to the current data released by the central bank on Thursday.        

The total liquid foreign exchange reserves held by the SBP increased 0.08 per cent on a weekly basis, said a statement issued today.

Moreover, the reserves with the commercial banks also increased by $4 m taking the total reserves to $6.84bn.

However, Pakistan received second tranche of $1 billion from the United Arab Emirates (UAE) during the current week, which would be reflected in data to be released next week.

The UAE and Pakistan have an agreement according to which Abu Dhabi will deposit $3 billion in the SBP reserves.

Read More: Overall foreign reserves stand at $13.48bn after dip of $140.8mn: SBP

The overall foreign reserves of Pakistan were recorded at the level of $13.48bn after a dip of $140.80 mn due to external debt servicing and other payments, the State Bank of Pakistan (SBP) said in its weekly report issued here on January 17.

The reserves held by the SBP are currently standing at $6.90bn whereas the forex reserves available with the commercial banks were at $6.58bn level.

The central bank, in its last weekly report issued on Thursday (January 10) had reported a decline of $230.9mn in its foreign exchange reserves.

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