Tuesday, April 7, 2020

Pakistan receives $1 billion aid from UAE, country’s reserve surged $ 14.25 billion

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
Pakistan has received $ 1 billion from UAE. The payment is provided by Abu Dhabi Fund for Development (ADFD) to with an aim to support Pakistan’s economic growth and to achieve the long-term objectives of its monetary policy. Central Bank of Pakistan announced on Thursday evening.

 

It is pertinent to mention here that United Arab Emirates will provide total amount of $ 3 billion soon.

 

Read more: Abu Dhabi fund assigns US$3 billion to SBP

 

Pakistan’s total foreign exchange reserves before receiving the amount of $ 1 billion were declined by $232 million during a week over repayment of foreign debts, State Bank of Pakistan (SBP) said on early Thursday.

 

The total foreign exchange reserves of the country have fallen by $232 million to $13,257.2 billion by week ended January 18, 2019 as compared with $13.489.2 billion in the preceding week.

 

The official reserves of the SBP decreased by $256.1 million to $6,636.1 billion as against $6,901.2 billion.

 

The central bank said that the official reserves had fallen due to external debt servicing and other official payments.

 

The reserves held by commercial banks increased by $33.1 million to $6,621.1 billion as compared with $6,588 billion.

 

Pakistan foreign exchange reserves, Foreign exchange reserves of Pakistan on Jan 24 $13,257.2, external debt servicing, Pakistan.

 

After the arrival of $ 1 billion, Pakistan’s foreign exchange reserves surged to $ 14,257.2 billion.

 

Read more: Pakistan’s foreign exchange reserves declines by $232 million on debt servicing

 

 

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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