ISLAMABAD: Foreign exchange reserves of Pakistan have increased by $2.6 billion mainly because of disbursement of $3 billion Saudi cash loans last week.
At present, the national foreign exchange reserves have surged to $25.15 billion. The forex reserves with the State bank are $18.65 billion while the commercial banks hold $6.5 billion reserves.
According to the State Bank of Pakistan data for the week ending on Dec 3, 2021, the reserves with the SBP fell to $16.01 billion due to external debt repayments.
However, Pakistan’s reserves went up after an inflow of $3 billion from the Saudi Fund for Development under an economic deal signed between the two countries.
“The SBP received a deposit of $3 billion from Saudi Fund for Development. After accounting for external debt and other official payments, SBP reserves increased by $2,648.0 million to $18,658.2 million,” the SBP said.
