Prime Minister Imran Khan said the government’s timely actions to contain the current account deficit bearing fruit as it shrinks to only $0.5 billion in February, $2 billion lower than in January, and the lowest monthly deficit so far in the current fiscal year. Read more: Curtailing current account deficit: Pakistan needs to boost exports … Read more
KARACHI: The rupee ended firmer against the dollar on Thursday to remain at the historic low of Rs178.63 in the interbank foreign exchange market. The dealers said that the exchange rate witnessed stability in rupee value owing to sharp reversal in the international oil prices. The benchmark Brent crude slumped 13 per cent a day … Read more
KARACHI: The rupee fell to the historic low at Rs178.61 to the dollar on Tuesday amid a surge in the commodity prices in the international market and rising domestic demand for the holy month of Ramazan. The rupee previously witnessed the all-time low of Rs178.24 on December 29, 2021. The exchange rate ended at Rs178.61 … Read more
KARACHI: The rupee recovered six paisas against the dollar on Tuesday owing to ease in the foreign currency demand for external payments. The exchange rate ended at Rs177.41 to the dollar from the previous day’s closing of Rs177.47 in the interbank foreign exchange market. The dealers said that the market witnessed ease in the dollar … Read more
KARACHI: Pakistan’s current account deficit has ballooned to $7 billion during the first five months (July-November 2021/22 on sharp growth in import bill during the period, according to the balance of payments data released by the State Bank of Pakistan (SBP) on Monday. The current account posted a surplus of $1.87 billion in the same … Read more
LAHORE: Pakistan’s former finance minister Dr Hafeez Pasha has warned of difficult times ahead as the country registered a record high imports of $6.3 billion in June 2021, while the current account deficit remained at $1.3 billion. Addressing an economic session on the “Pakistan Economy ‑ Challenges and Solution”, organised by the Pakistan Industrial and … Read more
KARACHI: Mounting current account deficit may pose a challenge to the rupee stability in the coming days, despite record inflows of export receipts and workers’ remittances. The local unit depreciated mercilessly against the dollar during the last couple of weeks. The local currency lost around Rs4.78 against the greenback during the first 23 days of … Read more
The country’s current account has been showing a monthly deficit since December 2020, but in the first 10 years of the fiscal year 2020-2021, it remained at a surplus of $773 million, reflecting additional support for remittances and exports. According to the report, the latest State Bank of Pakistan (SBP)’s data show that the current … Read more
The State Bank of Pakistan (SBP) says that the central bank’s reserves increased by $90 million in one week, after which the foreign exchange reserves increased to more than $12.9 billion. According to the details, the SBP said that the foreign exchange reserves of the central bank increased to more than $12.9 billion, while the … Read more
The State Bank of Pakistan (SBP) has announced that the current account deficit has decreased to $229 million from US$652 million last month. The SBP Tweeted, “In January 2021, current account deficit reduced to $229mn from $652mn last month. For the first 7 months of FY21, the current account surplus is $912mn, a significant turnaround … Read more
According to the State Bank of Pakistan, the country’s current account deficit has significantly reduced by 78% in the fiscal year 2020. State Bank of Pakistan, in its issued statement said the current account deficit stood at 1.1% of GDP in FY20, At the end of fiscal year 2020, the current account deficit stood at … Read more
The Pakistan’s economy seems to be stepping out of trouble and heading towards stability. From the stock market to the currency market and the current account deficit, international credit rating agencies are all talking about economic stability of Pakistan. The rupee strengthened against the dollar and reached at five-month high. Currency dealers are expecting to … Read more
