The State Bank of Pakistan (SBP) announced on Wednesday that Saudi Arabia has extended its term for a $3 billion deposit in the central bank, shoring up the country’s foreign exchange reserves and strengthening domestic economy. “The Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has extended the term for the deposit of USD 3 billion maturing on 05 December 2023 for another one year,” the SBP announced in a statement.
