Pakistan’s total foreign reserves rise above $14 billion

Due to inflows from Saudi Arabia, the United Arab Emirates (UAE), and the International Monetary Fund (IMF), Pakistan's total liquid foreign reserves increased to US$ 14,065.3 million, while reserves held by the central bank increased to $8,727.2 million.

According to a statement issued by the State Bank of Pakistan (SBP), the central bank 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).

As a result, SBP reserves climbed by US$ 4,203 million during the week ending July 14, 2023, to US$ 8,727.2 million.

Meanwhile, commercial banks' net foreign reserves stood at $5,338.1 million, according to the report.

The country's total liquid foreign reserves were US$ 9,838.5 million in the previous week, which ended on July 7, 2023.

The central bank possessed 4,524 million dollars in foreign reserves, while commercial banks held 5,314.5 million dollars in net foreign reserves.