SBP receives further $500mln from China

KARACHI, Mar 11: Pakistan’s total liquid foreign reserves further rise to US$ 9,754 million during the week ended on March 03, 2023 as the central bank received US$ 500 million from China.

The State Bank of Pakistan, in a statement issued here on Thursday, stated that reserves held by the central bank increased by US$ 487 million to US$ 4,301.0 million while net foreign reserves held by commercial banks were at US$ 5,453 million.

Following the receipt of US$ 500 million as GoP commercial loan from China, the total liquid foreign reserves held by the country reached at US$ 9,754.0 million as of 03 Mar-2023, it added.

In the previous week ended on February 24, total liquid foreign reserves hold by the country was US$ 9,267.9 million. Among these, the foreign reserves held by the SBP were US$ 3,814.1 million while net foreign reserves held by commercial banks were US$ 5,453.8 million.