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Tag Archives: Foreign Exchange Reserves

Pakistan Bureau of Statistics claims country’s economy moving on right track

ISLAMABAD: The country’s economy is moving on right track because of prudent economic policies of the government despite challenges on different fronts. According to Radio Pakistan quoting a report of Pakistan Bureau of Statistics, major economic indicators have shown positive signs of sustainable growth owing to improved foreign exchange reserves, workers’ remittances and increased investment. A considerable increase has been ... Read More »

$15b mark crossed: SBP reserves up by $171m to $10,476b

KARACHI: The State Bank of Pakistan has declared that total liquid foreign exchange reserves of the country have surged to $15,212.7 billion on January 2, 2015. In a statement the central bank detailed that that forex reserves held by the SBP stood at $10,475.8 billion while net foreign reserves held by banks $4,736.9 million on January, 2. During the week ... Read More »

$60m decease: Forex reserves fall 0.57%, to $10,305m

KARACHI: Foreign exchange reserves of the country deceased by $60 million to $10,305 million on a weekly basis, as compared to $10,365 million of the previous week. According to the State Bank of Pakistan, foreign exchange reserves held by the central bank fell by 0.57%. Between December 19 and 26, the SBP paid $197 million on account of external debt ... Read More »

$1.051b IMF tranche: Reserves soar to $15.098b, SBP holds $10.364b

KARACHI: The country’s foreign exchange reserves have increased to $15.098 billion as the State Bank of Pakistan (SBP) received a tranche of $1.051 billion from  under Extended Fund Facility (EFF). The foreign reserves held by State Bank stood at $10.364.6 billion whereas net foreign reserves held by commercial banks stood at $4.733 billion by the week ending on December 19, ... Read More »

9-day before deadline: Foreign reserves cross $15b mark, $10b with SBP

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s total foreign exchange reserves have crossed $15 billion. The finance minister revealed this during a meeting with Prime Minister Nawaz Sharif in Islamabad. Dar gave him detailed briefing about economic measures taken which made possible to achieve the target. The prime minister congratulated Finance Minister Ishaq Dar and his ... Read More »

9-day before deadline: Foreign reserves cross $15b mark, $10b with SBP

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s total foreign exchange reserves have crossed $15 billion. The finance minister revealed this during a meeting with Prime Minister Nawaz Sharif in Islamabad. Dar gave him detailed briefing about economic measures taken which made possible to achieve the target. The prime minister congratulated Finance Minister Ishaq Dar and his ... Read More »

Total reserves soar to $14.042b; SBP’s up by $144m to reach $9.347b from $9.203b

KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) have increased by 1.5 per cent on a weekly basis on December 12. According to data released by the central bank, SBP’s liquid foreign exchange reserves increased by $144 million to $9,347 million compared to $9,203 million in the previous week. During the week, the SBP received ... Read More »

Sukkuk fetched $2.3b: Budget deficit to be slashed to 4pc, reserves to rise to $15b: Dar

ISLAMABAD: The government is committed to bring down budget deficit to 4 percent of GDP through strict monetary discipline and taking foreign exchange reserves to $15 billion by December end. Finance Minister Senator Ishaq Dar stated this while talking to representatives of All Pakistan Newspapers Society (APNS). The minister declared that the country was the road to progress as all ... Read More »

$15b reserves by Dec end, revenue collection up by 14.3%, remittances by 15.2% in 4 months: Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has once again claimed that the government will achieve $15 billion foreign exchange reserves target by December, 31 2014 against the present $14 billion as IMF to release the 3rd and 4th tranches on December 17. He said this while talking to the office-bearers of APNS. The minister revealed that international experts had predicted if ... Read More »

GDP growth rate to up by 7pc, exports $32b, FDI $5.5b, reserves $20b by 2018, claims Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar, addressing the 16th National Security Workshop on the topic “Economic Policy of Pakistan” at the National Defence University, has said that the country’s GDP growth rate will be increased to 7 per cent by the year 2017-18. Finance Minister Senator Ishaq Dar said that fiscal consolidation, power sector reforms, gas sector reforms, privatisation programme, ... Read More »

Reserves decline to $13.228 from $13.267, SBP-held reserves up by $7m

KARACHI: The State Bank of Pakistan (SBP) has reported that the country’s total liquid foreign exchange reserves has decreased to $13.228 billion during the week ending November 14 compared to $13.267 billion the previous week. However, the reserves held by the SBP increased by $7 million to reach $8.494 billion from $8.487 billion. The forex holdings of other banks stood ... Read More »

SBP foreign reserves decline by $131m to $13267.8m on $89m debt payment

KARACHI: SBP’s reserves declined by 1.5% or $131m to $8,487m as compared with $8,618m in the previous week. The total reserves declined to $13,267.8m from $13443m in a week ending on Nov 7, 2014. Foreign reserves held by the SBP stood at $8,487.4m while net foreign reserves held by banks $4,780.4m and total liquid foreign reserves recorded at $13,267.8m. During ... Read More »

SBP foreign exchange reserves decline to $8,882m, down $95m

KARACHI: SBP’s liquid foreign exchange reserves recorded a week-on-week decrease of 1%, falling from last week’s $8,787 million to $8,882 million this week. SBP foreign exchange reserves recorded a decline of $95 million till the week ended on October 17. According to data released by SBP, during the week, the SBP made payments of $118 million on account of external ... Read More »

Bank of China, SBP vow to enhance banking ties

KARACHI: Ms Li Tong, chairperson and CEO of Bank of China International (BoCI) and Acting Governor State Bank of Pakistan (SBP) Saeed Ahmad vowed to enhance banking cooperation between the two countries. Ms Li Tong was accompanied by Ms Cheng Yan MD and Vice Chairman, Michae Cheng and Wang Jia and local representatives during her visit to SBP. The BoCI is ... Read More »

Foreign exchange reserves rise to $13.435 billion: SBP

KARACHI: The country’s foreign exchange reserves soared to $13.435 billion during the week ending October 10 as compared to $13.40 billion in the previous week, the State Bank of Pakistan (SBP) said. The reserves held by the SBP increased by $25 million to reach $8.882 billion from $8.857 billion. While the reserves held by other banks were $4.553 billion as ... Read More »

Dar underlines economic achievements in US gathering

WASHINGTON: Finance Minister Ishaq Dar has highlighted remarkable economic achievements before a big gathering of students and faculty members of John Hopkins University (USA) on the topic “Pakistan’s Economic Recovery and Its Emerging Role in the Region”. Ishaq Dar, who is in the United States these days to attend meetings with IMF and World Bank, told the students that FBR ... Read More »

Forex reserves rise to $13.40 billion, record 2.86pc growth

KARACHI: The foreign exchange reserves surged to $13.40 billion during the week ending October 3 as compared to $13.210 billion of the previous week, recording a week-on-week increase of 2.86 percent. The SBP reserves soared by $247 million to $8.857 billion from $8.610 billion in a week. The SBP received $484m from multiple sources including $364 million on account of ... Read More »

Foreign reserves decrease

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) have decreased by 1.9 per cent or $168 million to $8,628 million as compared to $8,796 million in the previous week. According to the SBP, the central bank made payments of $295 million during the last week on account of external debt servicing and other official payments, including ... Read More »

Foreign exchange reserves reach $13.5b

KARACHI: The foreign exchange reserves held by the country stood at $13,525.2 million and recorded a week-on-week increase of 1.2 per cent on September 12. According to data released by the central bank, foreign reserves held by the State Bank of Pakistan stood at $ 8,795.5 million, while the net foreign reserves held by banks stood at $ 4,729.7 million ... Read More »

Forex reserves dip 0.3pc

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a week-on-week decrease of 0.3%, according to data released by State Bank of Pakistan. SBP’s liquid foreign exchange reserves decreased $26 million to $8,693 million compared with $8,719 million in the previous week. During the week, the SBP made payments of $61 million on account of external ... Read More »