Forex Reserves increase by 27.4 million dollars

The foreign exchange reserves of country have been increased by 27.4 million dollars after which the value of all the foreign exchange reserves has risen to 16.41 billion dollars.

According to the figures published by the State Bank of Pakistan, a slight increase in foreign exchange reserves was seen. During the last week, a decrease of 320 million dollars was noticed in the foreign exchange reserves. According to the report State Bank has 12.69 billion dollars of foreign reserves; where as the commercial banks acquire 3.72 billion dollars of foreign exchange.

Forex reserves fall to $16.56bn

KARACHI: Pakistan”s foreign exchange reserves fell to $16.56 billion in the week ending July 23, from $16.70 billion a week ago, the central bank said on Thursday.

Reserves held by the State Bank of Pakistan (SBP) fell to $12.77 billion from $12.86 billion a week earlier, while those held by commercial banks also fell to $3.79 billion from $3.84 billion, said Syed Wasimuddin, the SBP”s chief spokesman.

Pakistan”s forex reserves rose to a record high of $16.77 billion in the week ending July 2, thanks to foreign inflows worth $750 million received during the week.

The previous record high was $16.45 billion in October 2007.

In May, Pakistan received $1.13 billion, the fifth tranche of a $10.66 billion International Monetary Fund (IMF) loan.

Bears grow strong, squeeze 299 points off KSE

KARACHI: Bearish trend Thursday reached a new height at Karachi Stock Exchange (KSE) as heavy selling made the benchmark KSE-100 Index take a nosedive down 299 points to close at 9,380.

The imposition of Capital Gains Tax (CGT) is finally taking its toll at the local bourse where investors seemed panicked as they found off loading their holdings a better option in the current scenario.

Even the government’s financial institutions appeared reluctant to accumulate scrips which have become available at low levels.

Pakistan forex reserves slip below $16 bln

KARACHI: Pakistan”s total liquid foreign exchange have declined below 16 billion dollars to 15.877 billion on June 4, 2010, State Bank of Pakistan said Thursday.

According to break-up, forex reserves held by SBP were 12.143 billion dollars and net foreign reserves held by banks (other than SBP) $3.733 billion dollars.

APTMA Ends Strike On Taseer’s Assurance

All Pakistan Textile Mills Association (APTMA) has called off its strike after Punjab Governor Salman Taseer assured to solve its problems in 14 days.
The Governor visited APTMA House on Thursday and assured the office-bearers that a committee would be constituted to settle the issue.

Chairman APTMA Ejaz Gohar said that they will protest again if the issue of quota on export of cotton yarn was not resolved.
Due to APTMA strike, at least 400 textile units remained closed.

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APTMA Ends Strike On Taseer’s Assurance was first posted on March 19, 2010 at 11:28 am.
Copyright @ A Pakistan News

Forex Reserves Rise To $14.85bn

Pakistan’s foreign exchange reserves rose to $14.85 billion in the week ending on March 13 from $14.72 billion the previous week, the central bank said on Thursday.

Reserves held by the State Bank of Pakistan rose to $10.98 billion from $10.91 billion a week earlier, while those held by commercial banks also rose to $3.87 billion from $3.81 billion the previous week, the State Bank of Pakistan said.

Pakistan’s foreign reserves hit a record high of $16.5 billion in October 2007 but fell steadily to $6.6 billion by November 2008, largely because of a soaring import bill.
An International Monetary Fund (IMF) emergency loan package of $7.6 billion agreed to in November 2008 helped avert a balance of payments crisis and shore up reserves.

The IMF increased the loan to $11.3 billion in July and the central bank received a fourth tranche of $1.2 billion on Dec. 28.

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Forex Reserves Rise To $14.85bn was first posted on March 19, 2010 at 12:29 pm.
Copyright @ A Pakistan News

Pakistan’’s total liquid foreign exchange reserves

Full Story And Original Content.TrendPK.com KARACHI: Pakistan’’s total liquid foreign exchange reserves stood at $14,123.5 million on November 14, 2009, State Bank of Pakistan said Thursday. According to break-up, forex reserves held by SBP were $10,494.0 million and net foreign reserves

Full Story And Original Content.TrendPK.com KARACHI: Pakistan’’s total liquid foreign exchange reserves stood at $14,123.5 million on November 14, 2009, State Bank of Pakistan said Thursday.
According to break-up, forex reserves held by SBP were $10,494.0 million and net foreign reserves [...]