Islamabad July 20 2023: Pakistan central bank reserves boost by USD 4.2 billion in a week on inflows from IMF and deposits from bilateral creditors.
"State Bank of Pakistan (SBP) has received inflows of USD 1.2 billion from IMF, deposit of USD 2 billion from Saudi Arabia and USD 1 billion from United Arab Emirates during the week" says Finance Minister of Pakistan Ishaq Dar.
State Bank of Pakistan (SBP) foreign exchange reserves for the week ending July 14th, 2023, are already at a high of eleven months, standing at USD 8,727 million, as per data released by the Central Bank. The reserves held by commercial banks increased by USD 24 million to USD 5,338 million during the week.
At present, country total reserves stand at the level of USD 14,065 million as of 14th July 2023.
“Our target is to further increase reserves to USD 14-15 billion by end of the government’s term” Dar said.