Increase in foreign exchange reserves by $1.14 billion

After receiving a tranche from the International Monetary Fund (IMF), the country’s foreign exchange reserves increased.

According to the State Bank of Pakistan, domestic foreign reserves increased by $1.14 billion in the week ended May 3.

The State Bank of Pakistan says that after this increase, domestic foreign reserves stood at $14.45 billion on May 3.

In addition, reserves of the State Bank increased by $1.11 billion to $9.12 billion, while foreign reserves of commercial banks increased by $2.86 billion to $5.33 billion.

It should be noted that the State Bank received $1.1 billion from the International Monetary Fund (IMF).