KARACHI: The production of cigarettes in FY18 surges by 72 per cent. According to the State Bank’s Statistical...
Total FDI fell to $288 million during July-August FY19 compared to $480.6m in the corresponding period last year.
Dollar in the open market for the first time in more than a month is traded higher than the inter-bank rate.
The five big banks have over a 59.5pc holding in the total banking sectors’ investments.
“Pakistan is facing pressures owing to import of capital goods rising from domestic demand,” says ratings agency.
Current account deficit rises to $2.2 billion in July 2018-19 versus $1.932bn last year – an increase of $268 million.
Currency dealers insist that the State Bank move has made the business risky for large investors.
The country has received a total of $128 million in FDI during July compared to $233.8m same month last year.
Supreme Court’s clearance is still required to see the deal through.
Overseas Pakistani workers remit $1.93 billion in the first month of 2018-19 as compared to $1.54bn received last July.
Despite improvements in digital payment systems, cash transactions continue to remain in vogue: SBP.
Half of all profits from overseas branches to be remitted back; boards to play more active role in oversight.
The gap between the buying and selling rate in the open market is Rs9 per dollar.
Provision of cheap financing to help solve problem of housing shortage.
Pay-back for foreign financing could lead another spike in demand for dollars.
The US dollar was traded as low as Rs124 in the interbank market.
The dollar traded in the open market at Rs123 buying and Rs126 selling.
China, the largest trade partner of Pakistan, has further increased its exports to $11.458bn.
Greenback was selling at lower than interbank rate.
Elections bring stability to the exchange rate on the very first day.