Pakistan recieves $1bn from UAE

By MG News | July 12, 2023 at 07:12 PM GMT+05:00

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July 12, 2023 (MLN): The State Bank of Pakistan (SBP) has received a $1 billion deposit from United Arab Emirates (UAE), Federal Minister for Finance Muhammad Ishaq Dar said in a video message.

This inflow will increase Pakistan’s foreign exchange reserves by a total of $3bn this week.

To note, as of June 30, 2023, the country's total reserves stood at $9.75bn.

This inflow comes on top of $2bn received from Saudi Arabia yesterday.

Ishaq Dar extended his gratitude to the leadership of UAE for their great gesture and support by placing said deposit of $1bn with State Bank of Pakistan.

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