Pakistan's Forex Reserves Reach 9-Month High, Boosted by IMF Bailout

Pakistan’s foreign exchange reserves rose to about a nine-month high after the South Asian nation secured a fresh financial bailout from the International Monetary Fund last week.

The kitty almost doubled to $8.73 billion as of July 14, from $4.52 billion in the previous week, the State Bank of Pakistan said Thursday, as inflows came from the multilateral lender as well as friendly nations, including Saudi Arabia and the UAE. That’s the highest since October when the central bank held $8.76 billion.

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