State Bank of Pakistan or SBP revealed that Pakistan forex reserves have seen a significant rise.
Pakistan forex reserves reached to $14.584 billion on December 14. However, the high rise was recorded after the $1 billion inflow received from Saudi Arabia. State Bank of Pakistan revealed that Pakistan forex reserves with the federal bank reached to $8.04 billion from $7.260 billion.
According to the SBP statement, the central bank received $1 billion inflows from Saudi Arabia. However, SBP reserves have seen a rise of $788 million after taking into account outflows relating to external debt and other official payments. In addition, foreign currency reserves of commercial banks are also reached at $6.536 billion from $6.493 billion last week.
Today, UAE offers aid to Pakistan to support the country’s financial and monetary policy. The Abu Dhabi Fund for Development has said that it has intention of depositing the amount in upcoming days to enhance the country’s liquidity and monetary reserves of foreign currency.
Also Read: UAE Offers Aid to Pakistan of $3 Billion
