Tag: Foreign Exchange Reserves

  • Pakistan’s forex reserves deplete by $288 million

    Pakistan’s forex reserves deplete by $288 million

    KARACHI: The liquid foreign exchange reserves of Pakistan fell by $288 million to $14.351 billion by week ended June 21 as against $14.639 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

    The foreign exchange reserves held by the central bank were depleted by $322 million to $7.282 billion as compared with $7.604 billion a week ago.

    The SBP said that its official reserves were declined due to external debt servicing and other official payments.

    The foreign exchange reserves held by commercial banks witnessed increase of $35 million to $7.069 billion from previous week’s level of $7.034 billion.

  • Foreign exchange reserves decline to $14.64 billion

    Foreign exchange reserves decline to $14.64 billion

    KARACHI: The foreign exchange reserves of the country have declined by $188 million to $14.639 billion by week ended June 14, 2019 as compared with $14.826 billion by June 03, 2019, State Bank of Pakistan (SBP) said on Thursday.

    The official reserves of the central bank declined by $203 million to $7.604 billion by week ended June 14, 2019 as compared with $7.807 billion as of June 03, 2019.

    The SBP said that the official reserves had been declined due to external debt servicing and other official payments.

    The foreign exchange reserves held by commercial banks increased by $15 million to $7.034 billion as compared with previous level of $7.02 billion.

  • Foreign exchange reserves slip to $14.827 billion

    Foreign exchange reserves slip to $14.827 billion

    KARACHI: The total foreign exchange reserves of the country have slipped by $63 million to $14.827 billion by week ended June 03, 2019 as compared with $14.89 billion as on May 31, 2019, State Bank of Pakistan (SBP) said on Thursday.

    The official foreign exchange reserves of the SBP reduced by $55 million to $7.807 billion by week ended June 03, 2019 as compared with $7.862 billion on May 31, 2019.

    The central bank said that its reserves were declined due to payments on account of external debt servicing.

    The reserves held by commercial banks also fell by $8 million to $7.019 billion from $7.027 billion.

  • Foreign exchange reserves slipped to $15.09 billion

    Foreign exchange reserves slipped to $15.09 billion

    KARACHI: The foreign exchange reserves of the country have slipped by $36 million to $15.09 billion by week ended May 24, 2019 as compared with $15.126 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

    The official reserves of the central bank came down by $47 million to $8.01 billion by week ended May 24, 2019 as compared with $8.057 billion a week ago. The SBP attributed the decline in foreign exchange reserves of the central bank to external debt services and other official payments.

    However, the reserves held by commercial banks increased by $11 million to $7.079 billion when compared with $7.068 billion a week ago.

  • Hafeez Shaikh assures forex dealers of reducing foreign currency limit on travel abroad

    Hafeez Shaikh assures forex dealers of reducing foreign currency limit on travel abroad

    ISLAMABAD: Dr. Abdul Hafeez Shaikh, adviser to Prime Minister on Finance and Revenue on Tuesday assured foreign exchange dealers of reducing limit for carrying foreign currency on traveling abroad.

    Earlier, a delegation of foreign exchange companies informed the adviser that people traveling abroad were carrying around $6 million daily.

    The delegation of Foreign Exchange Dealers, led by the President of Forex Association of Pakistan, Malik Bostan, called on Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh, here today.

    The delegation suggested various measures aiming at improving foreign exchange of the country.

    In order to reduce the outflow of dollar, the delegation proposed that the foreign currency limit for people, who are travelling abroad, should be revised.

    The representatives of the association mentioned that smuggling of dollar to Afghanistan and Iran is a serious issue and the government agencies should take strict action against such elements who are involved in foreign currency smuggling.

    The delegation expressed concern over under invoicing by some importers and suggested that the custom authorities should take over the goods, by auctioning them, of the importers who are involved in under invoicing causing losses to national exchequer.

    The delegation also offered its support to improve foreign exchange of the country.

    The Adviser assured the delegation that their proposals would be considered positively.

    The meeting was attended by Secretary Finance, Naveed Kamran Baloch, Governor State Bank of Pakistan, Dr. Reza Baqir, senior officials of Ministry of Finance and representatives of foreign exchange dealers.

  • Pakistan’s forex reserves fall by $768 million

    Pakistan’s forex reserves fall by $768 million

    KARACHI: Pakistan’s foreign exchange reserves have slipped by $768 million to $15.126 billion by weed ended May 17, 2019 from $15.894 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

    The official reserves of the SBP fell by $788 million to $8.057 billion by week ended May 17, 2019 from $8.845 billion a week ago.

    The central bank said that the official reserves declined due to debt servicing and other office payment.

    The foreign exchange reserves held by other commercial banks, however, increased by $20 million to $7.069 billion as compared with $7.049 billion.

  • forex reserves decline by $78 million to $15.89 billion

    forex reserves decline by $78 million to $15.89 billion

    The State Bank of Pakistan (SBP) announced on Thursday that the country’s foreign exchange reserves decreased by $78 million, bringing the total to $15.894 billion for the week ending May 10, 2019. This decline is attributed primarily to foreign debt payments.

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  • Pakistan’s forex reserves increase by $229 million

    Pakistan’s forex reserves increase by $229 million

    KARACHI: The foreign exchange reserves of the country have increased by $229 million to $15.972 billion by week ended May 03, 2019 as compared with $15.742 billion a week ago, State Bank of Pakistan (SBP) said on Thursday.

    The foreign exchange reserves held by central bank increased by $179 million to $8.984 billion as compared with $8.805 billion a week ago. The SBP said that the reserves were increased doe to official government inflows.

    The reserves held by commercial banks also increased by $51 million to $6.988 billion as compared with $6.937 billion a week ago.

  • forex reserves deplete by $251 million to $15.743 billion

    forex reserves deplete by $251 million to $15.743 billion

    KARACHI: The total liquid foreign exchange reserves of the country have depleted by $251 million to $15.743 billion by week ended April 26, 2019 as against $15.994 billion in the previous week, State Bank of Pakistan (SBP) said on Thursday.

    The official reserves of the central bank fell by $219 million to $8,805 billion for the week under review as against $9.024 billion by week ended April 19, 2019. The central bank said that the official reserves were declined due to external debt servicing and other official payments.

    The foreign exchange reserves with the commercial banks also declined by $33 million to $6.937 billion for the week ended April 26, 2019 as compared with $6.97 billion a week ago.

  • Country’s foreign exchange reserves declines by $202 million

    Country’s foreign exchange reserves declines by $202 million

    Pakistan’s liquid foreign exchange reserves experienced a significant decline, falling by $202 million to $15.994 billion by the week ending April 19, 2019, compared to $16.196 billion just a week prior, according to a statement released by the State Bank of Pakistan (SBP) on Thursday.

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