Pakistan's forex reserves to rise for first time in three months

MG News | November 20, 2018 at 10:52 AM GMT+05:00

0:00

November 20, 2018 (MLN): Pakistan’s foreign exchange reserves are set to escalate to more than $14 billion, following the receipt of the tranche worth $1 billion from Saudi Arabia, under a financial assistance package. The total worth of this package amounts to $6 billion.

However, this additional amount will only reflect in the reserves data that will release next week, November 29, 2018.

This will be the first increase in forex reserves in the last 3 months, since August 17, 2018.

Extending a helping hand to the Pakistani government in times of crisis, Saudi Arabia agreed last month, to loan the country $3 billion in foreign currency support for a year and an additional loan of $3 billion in deferred payments for oil imports.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,603.73 379.80M	-0.50% -908.92
ALLSHR	108,021.19 705.75M	-0.35% -379.48
KSE30	54,828.33 124.04M	-0.69% -379.24
KMI30	253,396.08 110.85M	-0.77% -1976.44
KMIALLSHR	69,330.18 392.81M	-0.57% -398.02
BKTi	51,913.39 44.12M	-0.50% -259.93
OGTi	35,053.03 27.27M	-0.84% -295.86

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	68,980.00	69,580.00 65,970.00	3480.00 5.31%
BRENT CRUDE	67.73	68.05 66.89	0.21 0.31%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	-1.50 -1.54%
ROTTERDAM COAL MONTHLY	104.60	104.60 104.60	1.30 1.26%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	62.81	63.26 62.14	-0.03 -0.05%
SUGAR #11 WORLD	13.55	13.57 13.42	0.07 0.52%