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Pakistan’s Foreign exchange reserves surged heavily

Pakistan Foreign exchange reserves surged heavily
Pakistan Foreign exchange reserves surged heavily
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Pakistan’s foreign exchange reserves have hurried to $15.7 billion.

The recent increase was seen after inflows of $1 billion from United Arab Emirate(UAE) as of monetary support.

According to information from the State Bank of Pakistan (SBP), the entire liquid foreign reserves owned by the central bank surged to $8.838 billion. Besides that, the commercial banks have additionally maintained foreign exchange reserves of $6.870 billion.

Minister Finance Asad Umar, stated that Pakistan will most likely receive an amount of $2.1 billion from his good friend “China” in coming days, which will additionally increase the reserves level of the central bank to $12 billion.

It is also worth mentioning here that, an amount of $1 billion from Abu Dhabi Fund  (ADF) for Development purposes, will increase the total inflows by $3.1 billion.

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