Reserves rise to record $17.44bn

[Dance]

KARACHI: The foreign exchange reserves rose to a record $17.44 billion in the week ending February 12, up from $17.31 billion the previous week, the State Bank of Pakistan said on Thursday.

Reserves held by the SBP rose to $13.91 billion from $13.76 billion in the week ending February 12, while those held by commercial banks fell to $3.53 billion from $3.55 billion, said the central bank.

“Foreign exchange reserves rose to a record because of a rise in remittances and increasing exports,” said Syed Wasimuddin, chief spokesman
for the State Bank.

Remittances by overseas Pakistanis were recorded at $6.12 billion during the first seven months of the fiscal year 2010-11, up 17.70 per cent from the same period last year, according to SBP data.—Reuters

Reserves rise to record $17.44bn | Newspaper | DAWN.COM

 

[PeacefulIndian]

Out of which about $8 billion belong to IMF which need to be returned within 3 years with interest (nominal though).

 

[SMC]

^ The obsession with Pakistan will never die.

 

[Dance]

Out of which about $8 billion belong to IMF which need to be returned within 3 years with interest (nominal though).

I was waiting for an indian to come in here and try to downplay the positive aspect of the thread. You Indians are so predictable

 

[GUNS-N- ROSES]

Out of which about $8 billion belong to IMF which need to be returned within 3 years with interest (nominal though).

come on man totally uncalled for.

 

[StingRoy]

I was waiting for an indian to come in here and try to downplay the positive aspect of the thread. You Indians are so predictable

Negative as much as it might be, but his response is factual. Any nation's forex reserves do account for the loan amounts as well.

But one good point is that the economy seems to be picking up and I believe Pakistan has been able to sustainably increase their forex reserves. Must be a good indicator for the financial market.

 

[GUNS-N- ROSES]

^^^ totally agreed. i hope pakistan comes out of this mess sooner than later.

 

[PeacefulIndian]

^ The obsession with Pakistan will never die.

Aren't you 'The analyst' who likes to talk in terms of facts, figures, statistics? Why shy away when you have those?

 

[PeacefulIndian]

I was waiting for an indian to come in here and try to downplay the positive aspect of the thread. You Indians are so predictable

So per you what is the positive aspect of this? Believe me I am more than willing to discuss that.

 

[lionheart1]

I was waiting for an indian to come in here and try to downplay the positive aspect of the thread. You Indians are so predictable

truth always hurts, foreign exchange reserve should be increased by investment or money sent by your people living in other country but unfortunately pakistan reserve are increased by loan and aid .which are unsustainable

 

[SMC]

Aren't you 'The analyst' who likes to talk in terms of facts, figures, statistics? Why shy away when you have those?

Everyone knows that these foreign reserves are at least partly built from loan. The fact that you and some other Indians need to mention this over and over and over again suggests how obsessed with Pakistan you are. Go get yourself checked out please.

 

[SMC]

So per you what is the positive aspect of this? Believe me I am more than willing to discuss that.

Read post #6. Also, does all the loan we get go to foreign reserve? Something to think about.

 

[ares]

Read post #6. Also, does all the loan we get go to foreign reserve? Something to think about.

No just the 8billion from IMF.

 

[Imran Khan]

is main mery 8 hazar dollers bhi hai ehheheehheheh

 

[SMC]

How do you know all 8 billion went to foreign reserve? I believe some went to debt servicing.