Pakistan Receives $ 1billion from WB,ADB

Karachi: State Bank of Pakistan received one billion dollar from World Ban and Asian Development Bank.

Workd Bank and Asian Development Bank transferred $500 million each after approving special loans for Pakistan. These reserves will boost Pakistan’s foreign currency reserves which were dwindling due to oil payments. Pakistan will save about a billion dollar as Saudi Arab cancelled plan to allow people to come for Hajj.
“Reserves are at comfortable positions therefore dollar price should slide against Pak Rupee,” said a currency trader.

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