Pakistan’s total foreign reserves rise above $14 billion

KARACHI: The total liquid foreign reserves of Pakistan rise to US$ 14,065.3 million while reserves held by the central bank reached $8,727.2 million owing to inflows from Saudi Arabia, United Arab Emirates (UAE) and International Monetary Fund (IMF).

The State Bank of Pakistan (SBP) in a statement issued informed that the central received US$ 2.0 billion from the Kingdom of Saudi Arabia, US$1.2 billion from the International Monetary Fund (IMF) and US$ 1.0 billion from the United Arab Emirates (UAE).

Consequently, SBP reserves increased by US$ 4,203 million to US$ 8,727.2 million during the week ended on July 14, 2023.

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Meanwhile, net foreign reserves held by commercial banks stood at US$ 5,338.1 million, it added.

In the previous week ending on July 07, 2023, total liquid foreign reserves held by the country was US$ 9,838.5 million.

Among them, foreign reserves held by the central bank were US$ 4,524 million while net foreign reserves held by commercial banks were US$ 5,314.5 million.