Forex reserves rise to $20.40bln

[Norwegian]

Forex reserves rise to $20.40bln
Business
Our Correspondent
December 11, 2020

KARACHI: Pakistan’s foreign exchange reserves increased $161 million, or 0.78 percent, during the week ended December 4, the central bank said on Thursday.
The total liquid foreign exchange reserves held by the country stood at $20.402 billion, compared with $20.241 billion in the previous week.
The State Bank of Pakistan (SBP) received $359 million from multilateral / bilateral sources, including $307 million from the Asian Development Bank, the SBP’s statement said.
After accounting for external debt repayments, the SBP reserves increased $188 million to $13.298 billion, it added. The forex reserves held by the commercial banks fell to $7.103 billion from $7.130 billion.
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Is this temporary due to Covid 19 or the reserves are really rising?

@ziaulislam @Joe Shearer @BHarwana @waz

 

[Imran Khan]

damn still too low make it 40.20 not 20.40

 

[Aryeih Leib]

damn still too low make it 40.20 not 20.40

Sabr rakho

 

[The Accountant]

Forex reserves rise to $20.40bln
Business
Our Correspondent
December 11, 2020

KARACHI: Pakistan’s foreign exchange reserves increased $161 million, or 0.78 percent, during the week ended December 4, the central bank said on Thursday.
The total liquid foreign exchange reserves held by the country stood at $20.402 billion, compared with $20.241 billion in the previous week.
The State Bank of Pakistan (SBP) received $359 million from multilateral / bilateral sources, including $307 million from the Asian Development Bank, the SBP’s statement said.
After accounting for external debt repayments, the SBP reserves increased $188 million to $13.298 billion, it added. The forex reserves held by the commercial banks fell to $7.103 billion from $7.130 billion.
----
Is this temporary due to Covid 19 or the reserves are really rising?

@ziaulislam @Joe Shearer @BHarwana @waz

Expected to increase firther after covid end

 

[Norwegian]

damn still too low make it 40.20 not 20.40

Yeah and then overheat the economy artificially only to bust it like previous govts

@ziaulislam

Expected to increase firther after covid end

Are you sure? Won't foreign exchange reserves fall when Pakistan has to pay debt repayments?

 

[Imran Khan]

Yeah and then overheat the economy artificially only to bust it like previous govts
View attachment 695320
@ziaulislam

Are you sure? Won't foreign exchange reserves fall when Pakistan has to pay debt repayments?

 

[Death Adder]

Forex reserves rise to $20.40bln
Business
Our Correspondent
December 11, 2020

The State Bank of Pakistan (SBP) received $359 million from multilateral / bilateral sources, including $307 million from the Asian Development Bank, the SBP’s statement said.
----
Is this temporary due to Covid 19 or the reserves are really rising?

Grants and loans mate.

 

[Norwegian]

Grants and loans mate.

so temporary then?

 

[The Accountant]

Yeah and then overheat the economy artificially only to bust it like previous govts
View attachment 695320
@ziaulislam

Are you sure? Won't foreign exchange reserves fall when Pakistan has to pay debt repayments?

Yes i am sure as repayments can be replaced with new loans.

The real reason of decline in reserves is current account deficit. Currently we r getting surplus which is expected to increase further after corona.

In long run, reserves will increase and loans will remain under control.

 

[HostileInsurgent]

Is this temporary due to Covid 19 or the reserves are really rising?

Maybe temporary and maybe not, I have 2 assumptions why ForEx of oil importing countries are increasing and will keep increasing in future.

The reason of increasing ForEx is because of lack of demand for Oil in global market in wake of pandemic hence less Forex has to be spent and thats why Forex of India a huge oil importing country rose by 100+ Billion dollars in just 10 months to 575 Billion dollars.

1. By the time Covid ends and oil demands increase then Forex will start depleting once again of all oil importing countries.

2. But if by the time Covid ends, the usage of EVs increase by a huge amount (highly unlikely) then Forex will not deplete or deplete with slow speed to purchase necessary oil.

 

[I S I]

MASHALLAH GOP is finally richer than Imran Khan

 

[Areesh]

MASHALLAH GOP is finally richer than Imran Khan

richer than *zardari

 

[I S I]

richer than *zardari

State bank needs 80B dollars in reserves to exceed Zardari & Nawaz Sharif's wealth.

 

[Patriot forever]

Grants and loans mate.

Was it any different in Plmn or ppp?

 

[janu.bravo]

Forex reserves rise to $20.40bln
Business
Our Correspondent
December 11, 2020

KARACHI: Pakistan’s foreign exchange reserves increased $161 million, or 0.78 percent, during the week ended December 4, the central bank said on Thursday.
The total liquid foreign exchange reserves held by the country stood at $20.402 billion, compared with $20.241 billion in the previous week.
The State Bank of Pakistan (SBP) received $359 million from multilateral / bilateral sources, including $307 million from the Asian Development Bank, the SBP’s statement said.
After accounting for external debt repayments, the SBP reserves increased $188 million to $13.298 billion, it added. The forex reserves held by the commercial banks fell to $7.103 billion from $7.130 billion.
----
Is this temporary due to Covid 19 or the reserves are really rising?

@ziaulislam @Joe Shearer @BHarwana @waz

It's because of Roshan Account remittances