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Pakistan's forex reserves hit all-time high of $18.25 billion

Discussion in 'South Asia & SAARC' started by Jungibaaz, Jul 7, 2011.

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  1. Jungibaaz

    Jungibaaz Lt. Colonel ELITE MEMBER

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    Pakistan's forex reserves totaled $17.47 b in previous week $17.95 b during week ending March 26.

    KARACHI: Pakistan’s foreign exchange reserves reached an all-time high of $18.25 billion in the week ending July 2, following inflows of more than $400 million that included loans from multilateral donors, a central bank official said on Thursday.

    Reserves held by the State Bank of Pakistan (SBP) rose to $14.79 billion from $14.02 billion a week ago, and those held by commercial banks edged to $3.46 billion up from $3.45 billion, said SBP chief spokesman Syed Wasimuddin.

    “During the week we received inflows of $411 million, which pushed the reserves to an all-time high level,â€￾ he said.

    “These inflows included a loan of $191.9 million from the World Bank, and another loan of $196.8 million from the Asian Development Bank.â€￾
    Pakistan’s foreign exchange reserves totaled $17.47 billion in the previous week, reaching a previous high of $17.95 billion during the week ending March 26.

    Higher export proceeds and a record inflow of remittances have helped Pakistan’s forex reserves grow steadily.

    Remittances from overseas Pakistanis topped $10 billion for the first time during the 2010/11 fiscal year, hitting $10.1 billion in the first 11 months, an increase of 25.20 percent compared with the same period last year, according to data from the SBP.

    Foreign exchange reserves were boosted in January by more than $633 million when the United States provided funds for military and logistical support for Pakistan’s campaign against a Taliban insurgency.

    In May 2010, Pakistan received $1.13 billion in the fifth tranche of an $11 billion International Monetary Fund (IMF) bailout programme.

    :yahoo:
     
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  2. uptotrix

    uptotrix Captain SENIOR MEMBER

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    Now Rank 58 in world forex charts.
     
  3. Jungibaaz

    Jungibaaz Lt. Colonel ELITE MEMBER

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    disappointing rank....

    I hope we return to the economic growth that we experienced between the years of 2003-2007, get back to being a developing nation!
     
  4. uptotrix

    uptotrix Captain SENIOR MEMBER

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    What was the highest point? I'm sure India doesn't mind economic co-operation but your country is so full of other issues :rolleyes:
     
  5. abirbec04

    abirbec04 Captain SENIOR MEMBER

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    Rank Country/Monetary Authority Foreign exchange reserves
    (Millions of USD) Figures as of

    — World (sum of all countries) N/A --
    1 People's Republic of China
    3,044,674 March 2011 [1]
    2 Japan 1,135,549 Apr 2011[2]
    - Eurosystem
    (EU member states which have adopted the euro, incl. ECB) 849,408 Apr 2011[2]
    3 Russia 523,950 Apr 2011[2]
    4 Saudi Arabia 456,200 Dec 2010[1]
    5 Republic of China (Taiwan) 387,200 Dec 2010[1]
    6 Brazil 328,062 Apr 2011[2]
    7 India 313,511 Apr 2011[2]
    8 Republic of Korea 307,199 Apr 2011[2]
    9 Switzerland 280,105 Mar 2011[2]
    - Hong Kong 276,922 Apr 2011[2]
    10 Singapore 242,524 Apr 2011[2]
    11 Germany 233,813 Apr 2011[2]
    12 Thailand 181,584 Mar 2011[2]
    13 France 173,034 Mar 2011[2]
    14 Italy 164,019 Mar 2011[2]
    15 Algeria 150,100 Dec 2010[1]
    16 United States 140,607 May 2011[2]
    17 Mexico 128,261 Mar 2011[2]
    18 United Kingdom 118,644 Apr 2011[2]
    19 Malaysia 113,838 Mar 2011[2]
    20 Indonesia 113,814 Apr 2011[2]
    21 Poland 111,988 Apr 2011[2]
    22 Libya 107,300 Dec 2010[1]
    23 Turkey 95,947 Apr 2011[2]
    24 Denmark 86,030 Mar 2011[2]
    - European Central Bank
    (ECB, not owned by any single EU member) 80,618 Apr 2011[2]
    25 Israel 77,203 Apr 2011[2]
    26 Iran 75,060 Dec 2010[1]
    27 Philippines 65,983 Mar 2011[2]
    28 Canada 63,018 Apr 2011[2]
    29 Hungary 53,683 Apr 2011[2]
    30 Norway 52,880 Mar 2011[2]
    31 Romania 52,773 Apr 2011[2]
    32 Sweden 51,298 Apr 2011[2]
    33 Argentina 51,298 Mar 2011[2]
    34 Netherlands 51,075 Apr 2011[2]
    35 South Africa 50,602 Apr 2011[2]
    36 Peru 46,431 May 2011[2]
    37 Iraq 45,680 Dec 2010[1]
    38 Czech Republic 43,859 Apr 2011[2]
    39 Nigeria 43,360 Dec 2010[1]
    40 Australia 41,869 Apr 2011[2]
    41 Lebanon 41,570 Dec 2010[1]
    42 United Arab Emirates 39,100 Dec 2010[1]
    43 Ukraine 38,352 Apr 2011[2]
    44 Kazakhstan 35,189 Mar 2011[2]
    45 Spain 34,124 Apr 2011[2]
    46 Chile 31,941 Apr 2011[2]
    47 Colombia 30,179 Apr 2011[2]
    48 Venezuela 29,490 Dec 2010[1]
    49 Belgium 29,430 Apr 2011[2]
    50 Egypt 28,446 Apr 2011[2]
    51 Austria 24,920 Apr 2011[2]
    52 Morocco 24,497 Apr 2011[2]
    53 Portugal 22,436 Apr 2011[2]
    54 Kuwait 22,420 Dec 2010[1]
    55 Qatar 22,410 Dec 2010[1]
    56 New Zealand 20,296 Apr 2011[2]
    57 Macau 18,730 Mar 2010[3]
    58 Bulgaria 17,781 Apr 2011[2]
    59 Pakistan 17,310 April 2011[1]
    60 Croatia 16,082 Mar 2011[2]
    61 Serbia 14,411 Jun 2011[4]
    62 Jordan 13,265 Feb 2011[2]
    63 Vietnam 13,000 Dec 2010[1]
    64 Bangladesh 10,790 Dec 2010[1]
    65 Finland 10,537 Apr 2011[2]
    65 Trinidad and Tobago 9,659 Dec 2010[1]
    66 Tunisia 9,269 Mar 2011[2]
    67 Bolivia 8,739 Dec 2010[1]
    68 Uruguay 7,755 Mar 2011[2]
    69 Latvia 7,693 Apr 2011[2]
    70 Lithuania 7,312 Apr 2011[2]
    71 Iceland 6,848 Apr 2011[2]
    72 Greece 6,732 Apr 2011[2]
    73 Azerbaijan 6,330 Dec 2010[1]
    74 Guatemala 6,187 Mar 2011[2]
    75 Sri Lanka 5,630 Dec 2010[1]
    76 Costa Rica 4,811 Apr 2011[2]
    77 Paraguay 4,082 Dec 2010[1]
    78 Cambodia 3,840 Dec 2010[1]
    79 Belarus 3,794 Apr 2011[2]
    80 Myanmar 3,762 Dec 2010[1]
    81 El Salvador 3,250 Mar 2011[2]
    82 Honduras 2,892 Feb 2011[2]
    83 Georgia 2,718 Mar 2011[2]
    84 Slovakia 2,287 Mar 2011[2]
    85 Ireland 2,193 Apr 2011[2]
    86 Kyrgyzstan 1,851 Apr 2011[2]
    87 Moldova 1,793 Mar 2011[2]
    88 Armenia 1,765 Apr 2011[2]
    89 Nicaragua 1,761 Apr 2011[2]
    90 Cyprus 1,179 Mar 2011[2]
    91 Slovenia 1,094 Apr 2011[2]
    92 Luxembourg 959 Apr 2011[2]
    93 Laos 576 Dec 2010[1]
    94 Malta 644 Apr 2011[2]
    95 Estonia 246 Apr 2011[2]


    List of countries by foreign exchange reserves - Wikipedia, the free encyclopedia
     
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  6. Skull and Bones

    Skull and Bones Doctor Death Staff Member MODERATOR

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    Country Flag:
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    India's current foreign reserve is $310 billion the week ended.
     
  7. Mr.Ryu

    Mr.Ryu Captain SENIOR MEMBER

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    Good for Pakistan

    but LOAN means LOAN right it need to be payed back ?
     
  8. Jungibaaz

    Jungibaaz Lt. Colonel ELITE MEMBER

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    7.7% GDP growth...
    We need that now more then ever.
     
  9. Jungibaaz

    Jungibaaz Lt. Colonel ELITE MEMBER

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    yeah, loans will be repaid given economic growth.
     
  10. Sanibhagwan

    Sanibhagwan 2nd Lieutant FULL MEMBER

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    ^^The American aid after WOT is $ 20 Billion. Is your forex reserves less than the aid given by one single country?
     
  11. Jungibaaz

    Jungibaaz Lt. Colonel ELITE MEMBER

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    We've spent $68 billion on the WOT.
    Don't you worry too much about us...

    :rolleyes:
     
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  12. Hammad Khan

    Hammad Khan 2nd Lieutant FULL MEMBER

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    and the american aid has not even completely reached pakistan
     
  13. Bad Wolf

    Bad Wolf Major SENIOR MEMBER

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    Good but is it include foreign aid or not?
     
  14. aakash

    aakash 2nd Lieutant FULL MEMBER

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    Good news for Pakistan midst all these troubles.

    But I'm just wondering that just the week before last someone on PDF said 'Pakistan prints 3 Arab rupees daily.'
    Pakistan prints 3 Arab rupees daily.
     
  15. Vritra

    Vritra Major ELITE MEMBER

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    Yeesh, how hard is it to say "well done, Pakistan" without turning even this thread into an Indo-Pak one-upping contest?
     
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