SBP receives further $500mln from China
During the week, Pakistan’s liquid foreign reserves have increased to $9,754 million due to a $500 million payment received from China, according to a statement by the State Bank. The central bank’s reserves rose by $487 million to $4,301 million, while commercial banks’ net foreign reserves stand at $5,453 million.
KARACHI, Mar 09 (APP): Pakistan’s total liquid foreign reserves further rise to US$ 9,754 million during the week ended on March 03, 2023 as the central bank received US$ 500 million from China.
The State Bank of Pakistan, in a statement issued here on Thursday, stated that reserves held by the central bank increased by US$ 487 million to US$ 4,301.0 million while net foreign reserves held by commercial banks were at US$ 5,453 million.
Following the receipt of US$ 500 million as GoP commercial loan from China, the total liquid foreign reserves held by the country reached at US$ 9,754.0 million as of 03 Mar-2023, it added.
In the previous week ended on February 24, total liquid foreign reserves hold by the country was US$ 9,267.9 million. Among these, the foreign reserves held by the SBP were US$ 3,814.1 million while net foreign reserves held by commercial banks were US$ 5,453.8 million.
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