Pak foreign exchange reserves reach $4.301b

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ISLAMABAD    -    Pakistan’s foreign exchange reserves held by the central bank have increased to $4.301 billion due to receipt of $500 million as GoP commercial loan from China.

“During the week ended on 03-Mar-2023, SBP’s reserves increased by $487 million to $4,301.0 million due to receipt of $500 million as GoP com­mercial loan from China,” said State Bank of Paki­stan on Thursday.

The total liquid foreign reserves held by the country stood at $9.754 billion. The break-up of the foreign reserves position is as foreign reserves held by the State Bank of Pakistan are $4.30 billion and foreign reserves held by commercial banks are $5,453 billion. Pakistan had received much needed $1.2 billion from China in last few weeks. Overall financing from the friendly country would reach to $2 billion, as the country would further receive $800 million in the current month.

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