Pakistan’s forex reserves fall to $8.238 bn

[Shadow_Hunter]

Rather FPI (Foreign Portfolio Investment) has been poring into Pakistan. FDI is picking up but its volume very low at the moment

No. if foreign portfolio investment was balancing your CAD your currency wouldn't be in a free fall in the first place.

 

[SBD-3]

No. if foreign portfolio investment was balancing your CAD your currency wouldn't be in a free fall in the first place.

I didn't say balancing but supporting. Relaxes the need for having a larger positive capital account. And PKR has become stable at the current level.......

 

[American Pakistani]

Whereas in Musharraf era forex were continuously rising & were somewhere around 17billion$. Demo Crazy at it's best.

 

[Echo_419]

Whereas in Musharraf era forex were continuously rising & were somewhere around 17billion$. Demo Crazy at it's best.

Bhai Ji democracy is the way to go
I know it has many problems but in the long term it is the best solution for any country
Koi nahi bura Walt sabka ata
Hamara aya tha,Chinese ka bhi aya tha
Himat RaKhi sabh Tekhadari hojayega

 

[Leader]

I thought they fell to 3 billion few days ago in a news.

It was a rumour. however thanks to overseas pakistanis, otherwise the way everyone is converting their corruption money and laundering it out of the country, we would have hit the pit by now..

dont see things improving either as long as accountants are given jobs of economists !

 

[SBD-3]

It was a rumour. however thanks to overseas pakistanis, otherwise the way everyone is converting their corruption money and laundering it out of the country, we would have hit the pit by now..

That wasn't the rumor but a disinformation. Actually people don't bother for getting to data and prefer inferences over that.Usually, 3-4 Billion USD are held by the banking sector SBP's reserves account for the rest. Overseas Pakistanis send remittance not for the love of the country but because their families are in Pakistan, take them out and you'll see how sincere they are with their country. Its ironic that the biggest investors (Both in FPI and FDI) in Pakistan are US,UK and EU while we chant for expats who are only good for remittances.

 

[SBD-3]

 

[Bobby]

So...Sharif is not that sharif after all

 

[illusion8]

It was a rumour. however thanks to overseas pakistanis, otherwise the way everyone is converting their corruption money and laundering it out of the country, we would have hit the pit by now..

dont see things improving either as long as accountants are given jobs of economists !

That's not a rumour - Pakistan's state banks hold around 3 billion reserves, the balance 5 billion are held by private banks mainly from remittances sent from foreign Pakistani workers.

 

[Chinese-Dragon]

So...Sharif is not that sharif after all

I keep seeing this joke on this forum, but what does it mean?

 

[Bobby]

I keep seeing this joke on this forum, but what does it mean?

word Sharif means decent

 

[Capt.Popeye]

I keep seeing this joke on this forum, but what does it mean?

"Sharif" means Honest/Decent in Urdu. In this particular context, its considered to be ironical.

 

[Leader]

That's not a rumour - Pakistan's state banks hold around 3 billion reserves, the balance 5 billion are held by private banks mainly from remittances sent from foreign Pakistani workers.

hmmm..... what happens if they run out of this reserve, the State bank?

I keep seeing this joke on this forum, but what does it mean?

sharif is from the word sharafat which means noble, civilized, or decent. sharif is a person who is a noble man.

Mr Nawaz's father name was sharif. hence the joke since nawaz isn't considered anything near the meaning of this word in literary sense.

 

[illusion8]

hmmm..... what happens if they run out of this reserve, the State bank?

Pakistan is to receive its next tranche of the IMF loan of approx. half a billion in the next couple of days - it's a neck to neck situation. The foreign exchange held by the private banks can obviously be used as well - because the remittances are to be converted in PKR.

 

[Leader]

Pakistan is to receive its next tranche of the IMF loan of approx. half a billion in the next couple of days - it's a neck to neck situation. The foreign exchange held by the private banks can obviously be used as well - because the remittances are to be converted in PKR.

Can these private banks move the foreign exchange out of the country like they were doing in 1999 and then again money laundering is already been going happening?

as there is no law to bar them. money flow is free thanks to kingo's law. (nawaz shairf)