Foreign exchange reserves reach $23.925bn
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KARACHI: Pakistan’s total liquid foreign reserves have reached $23.925 billion. According to a press release issued on Thursday, foreign reserves of the State Bank of Pakistan increased by $53 million to $17.199 billion during the week ended on October 29.
The reserves held by commercial banks stood at $6.726bn.
Published in Dawn, November 5th, 2021
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Comments (18) Closed
Nov 05, 2021 08:31am
Bangladesh Foreign exchange reserves reach near $50 billion.
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Nov 05, 2021 09:11am
@M. Emad, india has over 500 billion in reserve. That shows the economic clarity where india and other two neighbours heading.
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Nov 05, 2021 09:17am
@M. Emad, Tell your leaders Nawaz Sharif and Zardari to bring the looted wealth back and we’ll have more than $100 billion in reserves.
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Nov 05, 2021 09:26am
It is nowhere comparable to India's foreign reserves.
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Nov 05, 2021 11:07am
Majority of this balance is borrowed money. It is not available for spending.
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Nov 05, 2021 11:42am
@M. Emad, there are some fake figures in there where BD is counting $ 8 billion as reserves which are not actually reserves as per international definition.
Better check rest of them before its too late.
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Nov 05, 2021 11:50am
@M. Emad, After the payments, the forex reserves stood at $44.87 billion on the day from $46.47 billion of the previous working day, according to the Bangladesh central bank's latest statistics. Minus the $ 7.2 billion of inflated reserves, it comes to $ 37 Billion. Quite a difference from $ 50 billion you are dreaming.
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Nov 05, 2021 11:52am
@M. Emad, Bangladesh's import-payment obligations have increased significantly in recent months for big purchases of textile products along with upward trend in fuel-oil prices on the global market.
Actually, the lower inflow of remittance and higher import bills have built up pressure on the country's forex reserves, leading to a steady devaluation of Bangladesh Taka (BDT) against the US dollar.
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Nov 05, 2021 12:08pm
These are all borrowed.what amess we are in due to imran khan incompetence.
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Nov 05, 2021 01:01pm
@M. Emad, We have no interest in Bangladesh foreign reserves. Our Iron Brother reserves more than any country on earth.
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Nov 05, 2021 03:18pm
Great move and excellent news.
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Nov 05, 2021 04:03pm
plus or minus 5 billion Saudi loans
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Nov 05, 2021 04:48pm
Yes forex reserves are a good measure of a country's economic standing. But visiting Dhaka and seeing thousands of cycle rickshaws whereby a human pulls another human also give another measure of the country's economy.
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Nov 05, 2021 06:51pm
@Real time , India’s foreign exchange reserves are 640 billions as of October 22, 2021.
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Nov 05, 2021 07:11pm
Beside almost $50 billion in reserve Bangladesh now has the highest per capita income in south-Asia and expected to be $3,000 per year soon. Far more than India and Pakistan.
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Nov 05, 2021 08:22pm
Every milestone towards prosperity is a great achievement itself for a country full of people* like us. No magic stick that can turn the tables over a short span of time. May it be growing for years over years to come.
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Nov 05, 2021 11:27pm
@Real time , that’s because you sent majority of your ppl all around the world and they are sending remittances. And you don’t have to gloat over your 500 billion . We got nawaz sharif and zardari who stashed most of Pakistan’s billions abroad in their private bank accounts
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Nov 06, 2021 12:23am
Sure Indian reserves may be over 600 billion but no use to us, it is a much bigger country with big economy, we need not compare everything with Indians especially where they are better.
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