Skip to content
Breaking News

Breaking News

  • Home
  • World
  • Business
  • Health
  • Entertainment
  • Life Style
  • Sports
  • Toggle search form

Forex reserves rise $12m to $8.1b | The Express Tribune

Posted on August 17, 2023 By Admin No Comments on Forex reserves rise $12m to $8.1b | The Express Tribune



KARACHI:

Foreign exchange reserves held by the State Bank of Pakistan (SBP) have increased by 0.14% on a week-on-week basis, reaching $8.1 billion, according to data released by the central bank on Thursday.

By the end of the week on August 11, 2023, the central bank’s foreign currency reserves were recorded at $8,055.3 million, indicating an increase of $12 million compared to the previous week’s $8,043.4 million.

The SBP cited no reason for the increase in Pakistan’s forex reserves.

Total liquid foreign currency reserves, including those held by commercial banks, reached $13,379 million. Among these, the commercial banks had reserves of $5,323.7 million.

The country’s reserves recorded a significant improvement in July following financial assistance from the International Monetary Fund (IMF) and friendly nations.

Pakistan secured approximately $1.2 billion from the IMF through a new $3 billion loan programme spanning nine months.

Additionally, Saudi Arabia and the United Arab Emirates (UAE) contributed deposits amounting to a few billion dollars. China’s assistance in the form of loan rollovers further boosted the reserves, bringing them to levels capable of covering two months of imports.

Published in The Express Tribune, August 18th, 2023.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.





Source link

Business Tags:News

Post navigation

Previous Post: Russian lunar probe enters moon’s orbit, first time since 1976
Next Post: Rohan Bopanna: Tennis star becomes oldest ATP Masters 1000 champion | CNN

More Related Articles

Gold rate continue to climb locally despite global market decline | The Express Tribune Business
IMF names new country head | The Express Tribune Business
State-owned British Business Bank reveals £147m annual loss Business
Government to hire agency to estimate size of digital economy – Times of India Business
‘We Absolutely Refute…’: EU Dismisses Zuckerberg’s Censorship Claims – News18 Business
Do You Throw Your Online Delivery Boxes After Opening Parcel? Know How It Can Make Your Bank Account Zero, Tips To Stay Protected Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Abortion guidelines branded horrifying by grieving mum
  • Woman declared dead by coroner, moved to coffin, turns out to be alive
  • Shohei Ohtani reacts to death of Japanese baseball legend Shigeo Nagashima: ‘May your soul rest in peace’
  • Thames Water nationalisation ‘not the answer’ says minister after rescue bid fails
  • “Family Guy” creator Seth MacFarlane on his other love: Sinatra

Categories

  • Business
  • Entertainment
  • Health
  • Life Style
  • Sports
  • World

Copyright © 2025 Breaking News.

Powered by PressBook Blog WordPress theme