Notes in circulation display rising trend

Published October 24, 2005

ACCORDING to the Statement of Affairs of the State Bank of Pakistan, for the week ended October 8, 2005, both notes in circulation and issued increased in the week. Notes in circulation stood at Rs748,479.852 million against earlier week’s figure of Rs710,002.550 million, a rise of Rs38,477.302 million. When compared to the corresponding week a year ago it was Rs645,350.694 million, the current week’s figure is higher by Rs103,129.158 million.

Total notes issued also rose in the current week over preceding week’s level. At Rs748,636.389 million it was higher by Rs38,468.938 million over the figure of Rs710,167.451 million recorded a week earlier. In the corresponding week last year it amounted to Rs645,532.691 million, which shows current week’s figure to be higher by Rs103,103.698 million over last year’s corresponding figure.

Approved foreign exchange declined in the week to Rs441,858.037 million or by Rs11,831.339 million over preceding week’s figure of Rs453,689.376 million. When compared to the corresponding week a year ago, when the figure was Rs402,293.369 million, the current week’s figure is higher by Rs39,564.668 million.

Balances held outside Pakistan in approved foreign exchange declined in the week under review. It stood at Rs140,067.513 million over preceding week’s figure of Rs140,338.744 million, showing a fall of Rs271.231 million. Compared to last year’s corresponding figure of Rs213,190.948 million, the current week’s figure is smaller by Rs73,123.435 million.

Loans and advances of scheduled banks to the three sectors – agricultural, industrial and export showed a mixed trend in the week under review. The agricultural sector received Rs60,224.062 million, similar to preceding week’s figure. The current week’s figure is larger by Rs1,818.781 million over last year’s corresponding figure of Rs58,405.281 million.

There was an inflow of Rs1,659.073 million to the industrial sector during the week under review, a fall of Rs0.533 million against preceding week’s figure of Rs1,659.606 million. When compared to last year’s corresponding figure of Rs2,188.927 million, the current week’s figure is lower by Rs529.854 million.

The export sector received Rs99,529.126 million against previous week’s figure of Rs98,744.672 million, a fall of Rs215.546 million. Current week’s figure was larger by Rs5,966.403 million over last year’s corresponding figure of Rs93,562.723 million.