Report cites no reason for the declin­e in reserv­esKARACHI: The foreign exchange reserves held by the central bank decreased 0.08% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. However, financial assistance from the United Arab Emirates (UAE) and Saudi Arabia helped shore up the foreign exchange reserves. Overall, the liquid foreign currency reserves, held by the country, including net reserves held by banks other than the SBP, stood at $14,815.8 million. In November last year, Chinese Embassy Deputy Head of Mission Zhao Lijian assured Pakistan of a financial package to boost its foreign currency reserves, hinting that it would be bigger than that pledged by Saudi Arabia. In January last year, the SBP made a $500-million loan repayment to the State Administration of Foreign Exchange (SAFE), China.

Source: The Express Tribune February 28, 2019 17:48 UTC