Pakistan has received $371 million as Coalition Support Fund.
A spokesman for the State Bank confirmed on Thursday that the bank has received the fund which would help improve the declining foreign exchange reserves of the country.
The dollar holdings of the State Bank have been declining since the first week of the month, and the bank lost $723m during 22 days to stay around $8.554 billion on Aug 22. “The inflows to CSF fund may temporarily improve the sentiment, but deepening political uncertainty is more dominating for the depressed exchange market,” he said.
Banking sources said that the next month could be more crucial for the dollar-rupee parity as the country would have to pay some large payments to IMF.
