Tag: foreign reserves
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Beyond the surface: Analysing SBP’s 30-month foreign reserves high
Pakistan’s foreign currency reserves have risen to $15.98 billion, of which $5.28 billion are held by commercial banks and $10.7 billion by the State Bank of Pakistan (SBP). This is the highest level of reserves in 30 months achieved via the inflow of the IMF loan: A sign of short-term stability. Pakistan’s economic woes seem…
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SBP-held foreign exchange reserves climb to $9.153 billion with $51 million increase
The State Bank of Pakistan (SBP) has reported an increase of $51 million in its foreign exchange reserves, which reached $9.153 billion for the week ending August 2. The central bank has not disclosed the source of this inflow. This rise marks the second consecutive week of increases in the SBP’s reserves, which had previously…
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Pakistan records $397 million current account surplus as exports, remittances increase
In December 2023, Pakistan’s current account exhibited a noteworthy surplus of $397 million, a stark departure from the $15 million deficit recorded in November, as reported by the State Bank of Pakistan (SBP) on Wednesday.
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Pakistan grapples with massive Rs63.4 trillion debt
In November 2023, Pakistan’s total debt soared to an alarming Rs63.399 trillion, marking a significant increase from Rs50.959 trillion in the same month of the previous year.
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SBP-held forex reserves surge to $7.76 billion in December
In the week concluding on December 22, 2023, Pakistan witnessed a substantial increase in its total liquid foreign reserves, reaching a noteworthy $12,855.7 million.
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State Bank of Pakistan reports $21 million decline in forex reserves
Pakistan’s total liquid foreign reserves reached a sum of US$ 13,030.8 million, with the central bank holding reserves amounting to $7,615.4 million, as reported by the State Bank of Pakistan (SBP).
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Pilgrims paying in US dollars to receive special discount for upcoming Hajj
According to recent reports, the government is planning to provide incentives to citizens who choose to pay their dues for the upcoming Hajj in US dollars. Additionally, the Ministry of Religious Affairs has allocated a 25 per cent special quota for pilgrims who deposit the amount in dollars, as per APP. This move is a…
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Pakistani rupee falls to Rs233 per US dollar in the interbank market
The Pakistani rupee (PKR) continued to fall on Tuesday as the country’s political turmoil worsened, trading at Rs233 to the dollar in the interbank market. Today, the US dollar gained Rs3.12 versus the local currency, compared to the previous day’s finish of Rs229.88, which was an all-time high at the time. The local currency has…
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PKR closed at 184.09 against USD, the lowest level in history
A substantial decline in foreign exchange reserves, persistent political instability, and hefty petroleum costs dragged Pakistan’s currency (PKR) to new lows on Friday, with the rupee closing over the 184 level for the first time against the US dollar following a 0.33 per cent drop in the interbank market. After a day-on-day devaluation of 61…
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Forex reserves fall to $20.679bn
The Foreign Exchange reserves of Pakistan fell by $157 million or 0.75 per cent to clock in at $20.679 billion, said the central bank on Thursday. The total liquid foreign reserves held by the country stood at $20.836 billion in the previous week. The reserves held by the State Bank of Pakistan (SBP) decreased by…