KARACHI – The total foreign exchange reserves of Pakistan crossed the US$10billion mark while reserves held by the central bank moved up to US $4.6billion after recent inflows.
In a statement, the State Bank of Pakistan said the total liquid foreignreserves held by the South Asian nation currently stand at US $10.13billion as of March 17, 2023.
The recent development comes as the central bank received US$500 million asGoP commercial loan disbursement and after accounting for external debtrepayments.
As of now, net foreign reserves held by commercial banks stood at US$5.54billion, while reserves held by the State Bank were US$ 4.59 billion.
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Earlier, crisis-hit Pakistan assured global lender that it would increaseits foreign exchange reserves to $10 billion by the end of June. The globalfinancial institution wants Islamabad to receive assurances for up to $7billion to manage the balance of payments gap.
Meanwhile, the South Asian nation is desperately awaiting a tranche of $1.1billion from the International Monetary Fund that has been delayed sincelast year.
