delegu.com/blog The foreign exchange reserves held by the central bank rose by 19.7% on a week-on-week basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.
On October 28, the foreign currency reserves held by the SBP were recorded at $8,912.9 million, up by $1,473 million compared with $7,439.9 million on October 21.
According to SBP, the increase is attributed to the receipt of $1,500 million from ADB.
“SBP has received $1.5 billion from ADB in value on October 26, 2022, as disbursement of loan for the Government of Pakistan,” the central bank said in a statement. “These proceeds will be reflected in the SBP reserves for the week ending October 28, 2022,” it added.
Foreign currency reserves held by the SBP were recorded at $8.799 billion, up by $1.103 billion compared with $7.697 billion on August 26, 2022. During the week ended September 2, 2022, Pakistan’s external debt stood at $5,766.0 million, according to the latest available figures from the State Bank of Pakistan (SBP).
The post Pakistan’s Forex Reserves rise to $8.9 Billion appeared first on Startup Pakistan. delegu.com/blog
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