Tuesday , March 31 2020

Pakistan Foreign Exchange Reserves hit highest level of last five months

ISLAMABAD – Pakistan Foreign Exchange Reserves have hit highest level of last five months.

The State Bank received $1 billion from Saudi Arabia on Friday, the last installment of the aid package Riyadh had announced last October.

This comes a day after the UAE transferred its first installment, $1 billion, of the $3 billion it had pledged in support for Pakistan’s depleting foreign exchange reserves. Following these transfers, the central bank’s reserves have jumped to a five-month high of $8.8 billion.

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