Thursday, February 27, 2020

Pakistan’s foreign exchange reserves up $1.54 billion to $ 14.8 billion on inflow

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Zain Zubair
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’s total foreign exchange reserves jumped by $1.545 billion during a week over after receiving the payments from Saudi Arabia and United Arab Emirates, State Bank of Pakistan said on Thursday.

 

The total foreign exchange reserves of the country increased by $1.545 billion to $14.802 billion by week ended January 25, 2019 as compared with $13.257 billion in the preceding week.

 

The official reserves of the SBP rose by $1,518.2 million to $8.154 billion as against $6,636.1 billion last week.

 

SBP received inflows of US$1,000 million each from Saudi Arabia and UAE as placement of funds.

 

The reserves held by commercial banks increased by $27.1 million to $6,648.2 billion as compared with $6,621.1 billion last week.

 

 

Zain Zubair
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]

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