The State Bank of Pakistan (SBP) says that domestic foreign exchange reserves have increased for the fifth consecutive week.
According to the Central Bank, the country’s foreign exchange reserves have increased by 486.1 million dollars in the week ended March 3.
As of March 3, the country’s foreign exchange reserves stood at 9 billion 754 million dollars.
According to SBP, this increase was due to the Pakistan government’s $500 million commercial loan from China.
Reserves of the Central Bank have increased by 48.69 million dollars to 4.30 billion dollars between 24th February and 3rd March.
The deposits of commercial banks decreased by 8 lakh dollars to 5 billion 45 million dollars.
At the end of January this year, the country’s foreign exchange reserves were 8 billion 39 million dollars, which increased by 1 billion 36 million dollars in five weeks.
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