Pakistan Foreign Reserves Surges To $ 9.754 Billion

BUSINESS:As a result of receiving US$ 500 million from China, Pakistan’s total liquid foreign reserves increased to US$ 9,754 million during the week ending March 3, 2023.As a result of receiving US$ 500 million from China, Pakistan’s total liquid foreign reserves increased to US$ 9,754 million during the week ending March 3, 2023.

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In a statement released on Thursday, the State Bank of Pakistan stated that the central bank’s reserves increased to US$ 4,301 from US$ 487 million.

while commercial banks held $5,453 million in net foreign reserves.

It also stated that as of March 3, 2023, the nation’s total liquid foreign reserves stood at US$ 9,754.0 million following the receipt of a GoP commercial loan of US$ 500 million from China.

Also Read: Pakistan Receives $500 Mln From China

The country held US$ 9,267.9 million in liquid foreign reserves during the week that ended on February 24. SBP’s foreign reserves totaled US$ 3,814.1 million, while commercial banks’ net foreign reserves totaled US$ 5,453.8 million.