Foreign Exchange Reserves Decrease Due to External Debt
Foreign Exchange Reserves Decrease the State Bank of Pakistan has said that during the last week. The foreign exchange reserves have decreased by 136 million dollars.
Introduction To Decrease FER
Foreign Exchange Reserves Decrease The State Bank of Pakistan has said that during the last week, the foreign exchange reserves have decreased by 136 million dollars. At this time, the total reserves are 13 billion 24 million 84 million dollars. The data released by the State Bank of Pakistan According to the Central Bank, at the moment, the reserves of the central bank are at the level of 7 billion 935 million dollars and commercial banks have 5 billion 31 million 79 million dollars. The central bank said that the total reserves of the country are 13 billion 24 million 84 million dollars. Foreign exchange reserves in the country have decreased to 13 billion 534 million dollars.
This is due to external debt repayments. However, there is a strong possibility that after the new agreements, when the trade with foreign countries will be formally started in Pakistan, as today the first commercial convoy has left for Pakistan from China, in this way, the economic situation of Pakistan from foreign trade will be greatly improved. It will be beneficial. However, we have to increase exports by promoting trade, we have to focus on GDP, and we have to take necessary and important steps to increase GDP and PCI so that Pakistan can come out of economic difficulties.
Foreign Reserve Assets
Earlier, in the week ended August 11, Pakistan’s foreign exchange reserves stood at $13.379 billion, including $8.5553 billion from the State Bank and $5.3237 billion from commercial banks. Similarly, on August 4, the State Bank said that the country’s FER had increased. It should note that on August 28, the State Bank’s data show that the country’s reserves were 13 billion 53 billion after the payment of external debts. 4 million dollars are left.
New Fiscal Year
The central bank’s reserves increased at the start of the new fiscal year in July after the International Monetary Fund supported Saudi Arabia and the United Arab Emirates, and the State Bank’s reserves rose to $8.7 billion following the influx of dollars.
Experts said Pakistan’s external debt servicing would be around $25 billion this year, which could affect the balance of payments. In the last week of July. It was reported that the current account deficit had widen significantly. To $2.5 billion in the previous fiscal year. Has fallen from $17.5 billion a year ago. Mainly due to a major cut in the import bill.
Current Account Deficit
The government ease imports following an agreement with the IMF. Which was fear to lead to a widening of the current account deficit. While the increase or decrease in exports is not likely to remain the same.