Pakistan surpasses all historical records for foreign exchange reserves

Foreign exchange reserves in Pakistan have risen by over $25.3 billion following fresh Eurobond investments. The State Bank of Pakistan has received US$1.0bn from the government’s tap offering of its recently issued Euro Bond. Pakistan’s foreign exchange market saw handsome inflows last week as it received separate tranches of loans. These included $1 billion from China and $440 million from the World Bank.

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The government has been pursuing all-out efforts to attract foreign loans and realize foreign bonds. The latest reports also predict that remittances will inflow to create a record surplus in export receipts in this year. 

Source: ProPakistani