UAE $3 BILLION deposits for the State Bank of PAKISTAN

ISLAMABAD: (UAE) on Friday announced to provide $3 BILLION deposits for the State Bank of PAKISTAN .SBP for improving PAKISTAN’s dwindling foreign currency reserves.

In addition, the provision of $3 BILLION oil facility on deferred payment is expected to be finalised by next month from the UAE as negotiations are underway on this front.

Exactly one month after the visit of Of PAKISTAN, the UAE announced to deposit $3 BILLION  in the SBP to support its financial and monetary policy, Emirates News Agency reported. 

 Dr Khaqan Najeeb, said the facility of $3 BILLION for deposits into the SBP will help the country to ensure stabilisation in its exchange rate.