Friday, July 1, 2022

Pakistan’s foreign exchange reserves surges to $ 17.9 billion after China pumped in $2.2 billion


Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Pakistan has received $2.2 billion from China on Monday, funds deposited in the State Bank of Pakistan (SBP) account. After receiving the finance facility from China, foreign exchange reserves of Pakistan surged to $ 17.9 billion.

The financial support from China will ensure balance of payment stability.

Earlier, Dr Khaqan Najeeb, adviser and spokesman for Ministry of Finance, in a tweet on Saturday said clarified that the discussions with international partners do not entail any target level of exchange rate.

Read also: Pakistan’s foreign exchange reserves surges $743.7 million to $15.709 billion

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