Pakistan’s foreign reserves stand at $15.709 bn: SBP

KARACHI: The State Bank of Pakistan (SBP) on Thursday reported that the total liquid foreign reserves held by Pakistan last week stood at US $15,709.6 million, ARY News reported.

“The total liquid foreign reserves held by the country stood at US$15,709.6 million on March 15,” the SBP said.

The central bank said total foreign reserves held by the SBP were $ 8,838.7 million, while net foreign reserves held by commercial banks were $6,870.9 million.

During the week ending on March 15, SBP received inflow of US$1,000 million from the UAE as placement of funds, it added.

After taking into account outflows relating to external debt and other official payments, the SBP reserves increased by $716 million during the week, the SBP reported.

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

On March 12, the SBP had received one billion US dollar funds from the UAE.

“So far, we have received total $2 billion from the UAE,” said the SBP spokesperson adding that in January this year Pakistan and the UAE had made an agreement with the Arab country on $3 billion support package.

Confirming the report of receiving of the aid, Advisor and Spokesperson Finance Division, Ministry of Finance, Khaqan Hassan Najeeb had said Pakistan had received $1 bn from the UAE to help further balance of payment, stability and ensure smooth international foreign payment obligations, while shoring up foreign exchange reserves.