Pakistan’s foreign exchange reserves have witnessed a significant increase of up to US$ 8 billion since June 2019 last year.
Dr Reza Baqir – Governor State Bank of Pakistan (SBP), has said that country’s foreign exchange reserves have been increased by US$ 8 billion since last June.
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Expressing his views in a event organized by JS bank in Dubai that was also attended by Pakistani bankers and financial experts, Reza Baqir noted that overseas Pakistanis have responded overwhelmingly to government’s ‘Roshan Digital Account’ initiative.
Pakistani expatriates are depositing US$ 4 million on a daily basis under Roshan Digital Account, said Reza Baqir.
According to Reza Baqir, the continuous inflow of revenue from Pakistani diaspora abroad along with market-based exchange rate system, Pakistan’s woes regarding its current account deficit have been greatly addressed.
Pakistan’s foreign exchange reserves would have reached record levels if not for COVID-19 pandemic and its repercussions, he added.
The SBP governor further urged finance and banking sector to avail the Roshan Digital Account service to encourage Pakistani expats to invest in the country.
