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SBP forex reserves fall to level less than 40 days of imports
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[ad_1] An undated image of a currency dealer counting $100 notes. — AFP/File The foreign exchange reserves held by the State Bank of Pakistan (SBP) plunged over $500 million to their lowest level since April 2014 during the week that ended on December 16, the central bank said on Thursday. The central bank, in its weekly…
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SBP’s forex reserves fall to 8-year low at $6.1 billion | The Express Tribune
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[ad_1] KARACHI: In its latest weekly update on Thursday, Pakistan’s central bank reported the country’s foreign exchange reserves have depleted to $6.11 billion. “During the week ended on December 16, 2022, SBP’s reserves decreased by $584 million to $6,116.2 million due to external debt repayment,” SBP said in a statement. The foreign exchange reserves held…
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Rupee continues to fall unabated against dollar
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[ad_1] The currency dealer is counting Rs500 notes. —AFP/File The Pakistani rupee continued to register losses against the dollar for the seventh consecutive session in the interbank market as investors await foreign financing and development on the ninth review of the International Monetary Fund (IMF). The local currency closed at Rs224.7 after a meagre decline…
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‘Pakistan’s GDP can fall 18 to 20% due to climate change risks’ | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s annual Gross Domestic Product (GDP) is at risk of fall by 18 to 20 per cent by 2050 due to the combined risks from intensification of climate change and environmental degradation in the country, if the climate change issues are left unaddressed. “The combined risks from the intensification of climate change and…
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Pakistan’s annual GDP can fall 18-20% by 2050 due to climate change risks: WB
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[ad_1] A man walks on the dried, cracked landscape near Hanna Lake near Quetta, Pakistan. — AFP/File ISLAMABAD: Pakistan’s annual Gross Domestic Product (GDP) is at risk of a fall by 18-20% by 2050 due to combined risks from the intensification of climate change and environmental degradation in the country, if the climate change issues…
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Remittances fall amid widening exchange rate differential
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[ad_1] A man counts one hundred US dollar bills in Bogota, on October 24, 2022. — AFP/File KARACHI: The remittances sent home by overseas Pakistanis fell over 9% month-on-month to $2.2 billion in October owing to a widening exchange rate differential in the open and interbank market and global slowdown. According to data released by…
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Debt servicing: SBP-held forex reserves fall to $7.96b
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[ad_1] A Pakistani currency dealer counts US dollars at a currency exchange shop. – AFP/File KARACHI: Pakistan’s central bank registered a reduction of $956 million in its foreign exchange reserves due to debt payments, which fell to $7.96 billion, a statement said Thursday. In a statement, the State Bank of Pakistan (SBP) said the total liquid…
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Forex reserves fall by $956m to $7.9b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank fell by 10.7% on a week-on-week basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On November 4, the foreign currency reserves held by the SBP were recorded at $7,957 million, down by $956 million compared with $8,912.9 million…
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US stocks fall as BoE follows Fed with big rate hike
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[ad_1] US stocks fall — AFP/file NEW YORK: Wall Street stocks fell early Thursday after the Bank of England followed the US Federal Reserve in enacting a big interest rate hike to combat inflation. The BoE said it was lifting borrowing costs by 0.75% percentage points to 3% in its biggest rate hike since 1989.…
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Pakistan forex reserves fall over 2% to stand at $7.4bn
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[ad_1] Picture of a one hundred US dollar bill taken in Bogota, on October 24, 2022. — AFP/File KARACHI: Following a decline of 2.07%, Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) stood at $7.4 billion. On October 21, the foreign currency reserves held by the SBP were recorded at $7,439.9…
