Pakistan foreign reserves increase by $1 billion

[Dark-Destroyer]

Indians so obsessed with Pakistan lol on the contrary no one give a toss about the gutter sniffers on their side lol it's always good to see indians butt hurt

 

[Nilgiri]

Pakistan GDP - 312 Billion $
Indian GDP - 2.8 Trillion $

Difference - 2800/312 = 8.9 times

Indian GDP is around 8-9 times of Pakistan and you are saying it's not i think i failed in math so lets the expert prevails.

@Nilgiri bhai please help.

Not interested. That guy is bit loony tunes and fresh here anyway. I only seriously interact with ppl that have stuck around for some time etc.

 

[Salahuddin Ayyubi]

Foreign exchange: SBP reserves fall 3.22%, amount to $7.3b

KARACHI:

The foreign exchange reserves held by the central bank plunged 3.22% on a weekly basis, for the second successive week, according to data released on Thursday.


Earlier, the reserves had been on a downward spiral for 13 successive weeks but financial assistance from Saudi Arabia provided much-needed support to the fast depleting reserves.

The reserves had dropped to a four-and-a-half-year low, which raised concern about Pakistan’s ability to meet its financing requirements. The assistance from the kingdom pushed the reserves above $8 billion, however, now they have once again dropped below that mark.

On December 7, the foreign currency reserves held by the State Bank of Pakistan (SBP) were recorded at $7,260.4 million, down $241.7 million compared with $7,502.1 million in the previous week. The decrease was attributed to external debt servicing and other official payments.

Overall, liquid foreign currency reserves held by the country, including net reserves held by banks other than the SBP, stood at $13,753.9 million. Net reserves held by banks amounted to $6,493.5 million.

Foreign exchange: SBP reserves dip 7%, amount to $7.5b

Last month, Chinese Embassy Deputy Head of Mission Zhao Lijian assured Pakistan of a financial package to boost its flagging foreign currency reserves, hinting that it would be bigger than that pledged by Saudi Arabia.

More than a month ago, China agreed to immediately give a loan of $2 billion to Pakistan, a move meant to arrest the slide in foreign currency reserves and provide much-needed breathing space to the new government.

Earlier, the reserves dipped to $9.06 billion, forcing the central bank to let the rupee depreciate massively for the fourth time since December 2017 and sparking concern about the country’s ability to finance a hefty import bill as well as meet debt obligations in coming months.

In April, the SBP’s reserves increased $593 million due to official inflows. A few months ago, the reserves surged due to official inflows including $622 million from the Asian Development Bank (ADB) and $106 million from the World Bank.

The SBP also received $350 million under the Coalition Support Fund (CSF) earlier.

In January, the SBP made a $500-million loan repayment to the State Administration of Foreign Exchange (SAFE), China.

https://tribune.com.pk/story/1866280/2-foreign-exchange-sbp-reserves-fall-3-22-amount-7-3b/

So, how long do you intend to survive on the largesse of Iron brother and Ummah? Its now become a monthly affair.

Courtesy of PMLN experience government

 

[Nilgiri]

@SunilM @Nilgiri how delusional can a person be? Tomato economist believes 60$ billion in """"FDI""""" was hidden. Yea and I have a secret stash of 200 billion USD hidden in my backyard so I dont have to pay income tax

Just need to let reality play out as always.

 

[ziaulislam]

@SunilM @Nilgiri how delusional can a person be? Tomato economist believes 60$ billion in """"FDI""""" was hidden. Yea and I have a secret stash of 200 billion USD hidden in my backyard so I dont have to pay income tax

Cpec investment comes under govt to govt deal and thus not counted as FDI

https://twitter.com/i/web/status/1072824442500337664

Ideas are all good..but so did PMLN ideas were great...its implementation that matters ..let wait and see

 

[Śakra]

Just need to let reality play out as always.

Already is!

 

[ziaulislam]

@MOD he is posting fake news the reserves stand at $9 billion please check with state bank for more info.

http://www.sbp.org.pk/

nope

date: SBR PBR total
19-Oct-18 7,825.0 6,470.8 14,295.8
26-Oct-18 7,776.9 6,407.6 14,184.5
2-Nov-18 7,678.9 6,389.2 14,068.1
9-Nov-18 7,482.9 6,349.1 13,832.0
16-Nov-18 7,286.5 6,428.5 13,715.0
23-Nov-18 8,062.4 6,510.2 14,572.6
30-Nov-18 7,502.1 6,494.0 13,996.1
7-Dec-18 7,260.4 6,493.5 13,753.9

 

[BHarwana]

nope

date: SBR PBR total
19-Oct-18 7,825.0 6,470.8 14,295.8
26-Oct-18 7,776.9 6,407.6 14,184.5
2-Nov-18 7,678.9 6,389.2 14,068.1
9-Nov-18 7,482.9 6,349.1 13,832.0
16-Nov-18 7,286.5 6,428.5 13,715.0
23-Nov-18 8,062.4 6,510.2 14,572.6
30-Nov-18 7,502.1 6,494.0 13,996.1
7-Dec-18 7,260.4 6,493.5 13,753.9

The updated info is in the news link I gave and it is also displayed on SBP website on the right hand ticker. Don't act like @SunilM plz.

 

[ziaulislam]

The updated info is in the news link I gave and it is also displayed on SBP website on the right hand ticker. Don't act like @SunilM plz.

sir this is from sbp.com.pk

 

[BHarwana]

sir this is from sbp.com.pk

They have updated info on the site in the current level ticker and news sites are also quoting that info.

https://www.thenews.com.pk/latest/405824-pakistan-receives-second-tranche-of-saudi-aid

 

[ziaulislam]

They have updated info on the site in the current level ticker and news sites are also quoting that info.

https://www.thenews.com.pk/latest/405824-pakistan-receives-second-tranche-of-saudi-aid

correct and that will make it 8.3b from 7.3b..reserves are published every 2 weeks..but where did you find the 9b figure

reserves are going to stick around 8 b this year...till the CAD shrinks further which will only happen when exports pick up and that will need 6-12 months atleast for textiles

 

[Nilgiri]

but where did you find the 9b figure

It was a remittance figure he was quoting from SBP website.

 

[kmc_chacko]

It was a remittance figure he was quoting from SBP website.

I think he is using single column A/c Book with only option of Receipt Entry .

 

[BHarwana]

correct and that will make it 8.3b from 7.3b..reserves are published every 2 weeks..but where did you find the 9b figure

reserves are going to stick around 8 b this year...till the CAD shrinks further which will only happen when exports pick up and that will need 6-12 months atleast for textiles

The same place where you found $7.2 billion figure.

 

[Sam.]

I think he is using single column A/c Book with only option of Receipt Entry .

That is a good one, made me giggle.