Pakistan forex reserves fall to $14.96 billion

[xataxsata]

Pakistan forex reserves fall to $14.96 billion

ISLAMABAD: Pakistan’s foreign exchange reserves fell to $14.96 billion in the week ending June 22 from $15.05 billion the previous week, the central bank said on Thursday.

Reserves held by the State Bank of Pakistan fell to $10.54 billion from $10.68 billion, while those held by commercial banks rose slightly to nearly $4.43 billion from $4.37 billion.

Foreign exchange reserves hit a record $18.31 billion in July 2011, boosted by a $191.9 million loan from the World Bank and a $196.8 million loan from the Asian Development Bank.

Higher exports and record remittances have also supported Pakistan’s reserves.

Remittances from Pakistanis abroad rose 19.5 per cent to $12.07 billion in the first 11 months of the 2011/12 fiscal year, compared with $10.1 billion in the same period last year.

In May, remittances totalled $1.19 billion.

Pakistan’s reserves have been reduced by debt repayments of $2.53 billion in the current fiscal year.

Pakistan forex reserves fall to $14.96 billion | DAWN.COM

 

[T90TankGuy]

what is Pakistan import bill? any one who can answer it ?

 

[Matrixx]

Pakistan can still buy 126 Rafale with $14.96B

 

[farhan_9909]

it will further fall to 13bn as stated by SBP

we will have to pay 1.2bn to IMF in oct this year

 

[foxbat]

what is Pakistan import bill? any one who can answer it ?

foreign debt - 60 billion usd
monthly trade balance - $-1.732 bln

 

[Matrixx]

Forex reserve - $14.96 billion
foreign debt - 60 billion usd
monthly trade balance - $-1.732 bln

I wonder how this country runs....

 

[farhan_9909]

In mushy era

the reserves were close to 20bns.

if we had him they would be close to 30bn atleast by now

 

[Matrixx]

In mushy era

the reserves were close to 20bns.

if we had him they would be close to 30bn atleast by now

Mushy got lots of US aid...

 

[foxbat]

In mushy era

the reserves were close to 20bns.

if we had him they would be close to 30bn atleast by now

Do you remember how Pakistan needed a bailout immidiately after Mushy's era.. Plus there was a recent discussion of how the GDP got fake uptake during his time of about 10%. Being a dictator, he could keep things hidden and thats what he did

 

[farhan_9909]

Mushy got lots of US aid...

plzz mention that aid.

the zardari has taken more aid than Mushy

and during Mushy time we clocked 8.4% growth in 2004-05fy

 

[Dr. NooB NinjA]

No wonder its known as a failed state....

They still troll on Indian economy

And you guys want to make it even by trolling yourself??!!
Is that the idea??!!

Sharam karo... Dont give all Indians a bad name.!!

 

[farhan_9909]

Do you remember how Pakistan needed a bailout immidiately after Mushy's era.. Plus there was a recent discussion of how the GDP got fake uptake during his time of about 10%. Being a dictator, he could keep things hidden and thats what he did

that news was more of an false.
Pak gdp was never 24trillions this year.

the GDP for this year is close to 21 trillions pkr.

Musharaf time was probably the best time for pak economy even better than ayub khan
our FDI was over 5billions 6 years back which is now only .5billions USD.

though the recent add up of Asad umar aka ex CEO of Engro
will prove to be a very good finance minister
i suspect under IK we will grow atleast at 7-8% and comparable to mushy era if nt better

 

[TopCat]

I am not sure, why PK always report commercial bank held currency as reserve? I think the central bank reserve should only be counted and reported. In BD they only report on central bank reserve. What about India? How do they report?

 

[Dr. NooB NinjA]

I am not sure, why PK always report commercial bank held currency as reserve? I think the central bank reserve should only be counted and reported. In BD they only report on central bank reserve. What about India? How do they report?

Valid point...
In India only central bank reserves are counted AFAIK.. I may be wrong though..

 

[Hello_10]

plzz mention that aid.

the zardari has taken more aid than Mushy

and during Mushy time we clocked 8.4% growth in 2004-05fy

its were the 2-3 years of Mushy time when sudden inflow of aid from US had given a boost to Pakistan's economy, true. but later you paid the cost during last 4-5 years when you had only around 3% growth, as, the excessive bombing by US on Afghan then multiplied the number of Taliban Fighters, they then started getting support from Pushtun majority north west of Pakistan from 2007 onward. and then the WOT extended to Pakistan also since 2007 onward ....

its true that foreign reserve of Pakistan might be around $30bil right now but if Mushy might be ruling right now, he might have allowed NATO bombing on the Pakistan cities of baluchistan/ north west region etc till now and then your all the businessmen might have closed industries and have run to Britain till now

Pakistan’s reserves have been reduced by debt repayments of $2.53 billion in the current fiscal year.

Pakistan forex reserves fall to $14.96 billion | DAWN.COM

in fact, foreign reserve status of Pakistan is still good as they just paid around $2.5bil foreign debt which is good. otherwise they might have $15+$2.5=$17.5bil foreign reserve right now