Forex reserves ease to $17.97bn
Page 1 of 1 • Share
Forex reserves ease to $17.97bn
KARACHI: Pakistan's foreign exchange reserves eased to $17.97 billion in the week ending August 6, from a record $18.31 billion the previous week, a senior central
bank official said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) fell to $14.46 billion from $14.78 billion a week ago, while those held by commercial banks also fell to $3.51 billion from $3.53 billion, said SBP chief spokesman Syed Wasimuddin.
"The decline in reserves during the week is due to scheduled debt repayments," said Wasimuddin.
Pakistan's foreign exchange reserves were boosted in June by inflows of $411 million, including a loan of $191.9 million from the World Bank, and another loan of $196.8 million from the Asian Development Bank.
Higher export proceeds and a record inflow of remittances have helped Pakistan's forex reserves grow steadily.
According to official data, remittances rose 38.57 percent to $1.1 billion in the first month of 2011/12 fiscal year, compared with $791.18 million in the same period last year. (Reuters)
bank official said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) fell to $14.46 billion from $14.78 billion a week ago, while those held by commercial banks also fell to $3.51 billion from $3.53 billion, said SBP chief spokesman Syed Wasimuddin.
"The decline in reserves during the week is due to scheduled debt repayments," said Wasimuddin.
Pakistan's foreign exchange reserves were boosted in June by inflows of $411 million, including a loan of $191.9 million from the World Bank, and another loan of $196.8 million from the Asian Development Bank.
Higher export proceeds and a record inflow of remittances have helped Pakistan's forex reserves grow steadily.
According to official data, remittances rose 38.57 percent to $1.1 billion in the first month of 2011/12 fiscal year, compared with $791.18 million in the same period last year. (Reuters)
Rao Muhammad Aftab- Monstars
-
Posts : 1091
Join date : 2011-02-11
Age : 35
Similar topics
» Forex reserves ease to $17.97bn
» Forex reserves rise to $18.06bn
» Forex reserves rise to a record $18.30b
» Forex reserves rise to record
» Pakistan forex reserves fall to $17.64 bn
» Forex reserves rise to $18.06bn
» Forex reserves rise to a record $18.30b
» Forex reserves rise to record
» Pakistan forex reserves fall to $17.64 bn
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Today at 12:21 pm by ali001
» Hemangiom'App
Tue Nov 05, 2024 11:25 am by ali001
» MindfulMe - Mental Health App
Mon Nov 04, 2024 10:50 am by ali001
» Learn Candlestick Patterns
Tue Oct 15, 2024 5:51 am by ali001
» Woh Pagal Si Episode 52 to 62 - Top Pakistani Drama
Sat Sep 21, 2024 6:26 pm by Mir Emmad Ali Khan Domki
» Nearu - share your socials
Sat Sep 21, 2024 1:12 pm by ali001
» Nightclub Tycoon: Idle Empire
Thu Sep 19, 2024 9:16 pm by ali001
» Carnivore - Meat Diet Recipes
Wed Sep 18, 2024 2:37 pm by ali001
» Eid Milad un Nabi Mubarak 2024 (Rabiʻ I 14, 1446 AH)
Tue Sep 17, 2024 3:44 pm by Mir Emmad Ali Khan Domki