Karachi: The State Bank of Pakistan’s foreign exchange reserves have risen to USD 8.192 billion, according to a news report. The reserves increased by 0.47% on a weekly basis.
Previously, the reserves had witnessed a decline to USD 6.636 billion. This had caused concerns for the relevant authorities over Pakistan’s ability to meet its financing requirements. However, a USD 1 billion aid package from the United Arab Emirates (UAE), and another of USD 1 billion from Saudi Arabia, stabilised the reserves.
China and the UAE have also agreed to provide more support for shoring up the fast depleting reserves.
On February 1, the foreign reserves stood at USD 8.1925 billion, after registering an increase of USD 38 million from last week’s figure of USD 8.154 billion.
The overall banking reserves in the country stand at USD 14.885 billion. This figure includes the USD 6.692 billion figure held by banks other than the SBP.
