The State Bank of Pakistan (SBP) on Wednesday that its foreign exchange reserves increased to $ 14.51 billion for June 30.
Last month, the Central Bank reserves increased by $ 167 million to $ 11,675 billion during the week that ended on June 6, although it did not reach its objective of $ 14 billion at the end of fiscal year 2024-25.
A press release issued by the SBP today said its reservations increased by $ 5.12 billion to reach $ 14.51 billion, compared to $ 9.39 billion on June 30 last year.
“This reflects a notable improvement in the country’s current account and the realization of the inputs planned during the year,” said the SBP.
Earlier this week, China rolled more than $ 3.4 billion in loans, two Pakistani government officials said. ReutersTo a extent that it was expected to help boost the country’s foreign exchange reserves, a requirement of the International Monetary Fund.
Beijing exceeded $ 2.1 billion, which has been in SBP reserves during the last three years, and refinanced another commercial loan of $ 1.3 billion, which Islamabad had paid two months ago, the sources said.
Another $ 1 billion of commercial banks of the Middle East and $ 500 million multilateral financing have also been received, said one of the officials.
