With 9.3 billion foreign remittances, Pakistan foreign exchange reserves register another significant increase

KARACHI: With $9.3 billion foreign remittances, Pakistan foreign exchangereserves register another significant increase.

Foreign exchange inflows continue to surge as workers’ remittance byoverseas Pakistanis have been recorded at US dollar 1.81 billion, anincrease of 9.4% in November 2019 compared to the same period last year.

Finance Division Spokesperson Omar Hamid Khan took to Twitter sayingremittances in five months of FY 2019-20 have reached 9.3 billion dollars.

The State Bank of Pakistan (SBP) on Tuesday received $1.3 billion from theAsian Development Bank (ADB) under the budget support fund.

SBP on its official twitter handle confirmed the transfer of the loanamount to Pakistan.

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The ADB has reaffirmed its commitment to continue supporting Pakistan onthe economic front.

Yesterday, Pakistan and the Asian Development Bank (ADB) had signed a loanagreement of $1.2 billion in Islamabad.