Reserves up $1.5bn
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KARACHI: Reserves held by the State Bank of Pakistan jumped by $1.518 billion to $8.154bn during the week ended on Jan 25.
After consistently dwindling, the recent increase came after inflows of $1bn each from Saudi Arabia and United Arab Emirates were deposited with the central bank.
Net holdings of the commercial banks clocked in at $6.648bn while total liquid reserves of the country amounted to $14.8bn during the period under review.
Published in Dawn, February 1st, 2019
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Comments (15) Closed
Feb 01, 2019 09:59am
Up $1,5 billion. Now you're talking. ,
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Feb 01, 2019 10:21am
"inflows of $1bn each from Saudi Arabia and United Arab Emirates"
It should go up by $2bn. Where did $0.5bn go? :-)
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Feb 01, 2019 10:33am
But last week only UAE and Saudi deposited 1 billion dollar each. Shouldnt the reserves be high by 2 billion dollars now?? Also the 4 billion dollars deposited by the 2 countries cannot be used for any payments...
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Feb 01, 2019 10:46am
It means that out of 2 billions which SBP got almost simultaneously, 500 million were already spent in debt servicing.With this pace it will again fall back to previous levels in next 1.5 months.
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Feb 01, 2019 11:55am
2 billion dollars but reserves up by 1.5 billion dollars. Rest you can understand where goes. Secondly, it looks that the money deposited by the Saudia was an advance payment on account of Hajj expenditure that was increased by 176,124 rupees each for 184,210 pilgrims.
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Feb 01, 2019 02:18pm
@Philosopher (From Japan): Rest ... Pakistan is paying interest on loan taken by Pakistani Thugs over last 10 years to buy properties in Europe, UAE, Dubai, USA and UK and to boost foreign accounts in Switzerland, UK and EU. ... I hope you understand the reason why voting Corrupt Thugs is bad for the country.
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Feb 01, 2019 02:40pm
Hard work by PTI and its educated and honest supporters. This is Naya Pakistan.
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Feb 01, 2019 02:41pm
@PrasadDeccani, Naturally, Indian trolls will not like progressive Pakistan.
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Feb 01, 2019 03:58pm
Bangladesh reserves $33bn.
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Feb 01, 2019 04:33pm
India reserves are 400 billions.
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Feb 01, 2019 04:55pm
Up by 1.5 billion to 8.1, mean they were at 6.6 billion $. Which is not comforting, to say the least. Its time to hit 4s and 6s. 1s might not be enoughs.
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Feb 01, 2019 05:56pm
New Pakistan has fail to collect any corrupt money No plan to increase new wealth.
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Feb 01, 2019 09:04pm
@PrasadDeccani, the half billion $$$ were split between Nawaz and Zardari,
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Feb 01, 2019 09:27pm
@Ali Sabir, "Up $1,5 billion. Now you're talking. ,"
Essentially there was an outflow of $482 million. That is why despite receiving deposits of @2 billion, reserves went up by just $1.518 billion.
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Feb 01, 2019 09:46pm
@Shazad, As per the SBP governor "When asked for the reason of $1.147bn decline in foreign exchange reserves during a short period (Dec 20-Jan 8) in the absence of any major debt repayments and unnatural intervention, the governor said the outflow was on account of defence payment, debt servicing and said the SBP also injected funds during the period but declined to go into details." https://www.dawn.com/news/1461141/sbp-raises-policy-rate-by-25bps-warns-govt-borrowing-fuelling-inflation
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