Search For "forex"
Pakistan's economic crisis going from bad to worse: Report
Updated : 3 years, 1 month ago IST
On January 6 the Forex reserves in the State Bank of Pakistan (SBP) touched the lowest mark of USD 4.343 billion just enough for two weeks. The recurring economic crises in Pakistan are primarily caused by a persistent fiscal deficit, which is a result of the government's tendency to overspe
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India's forex reserves rose over USD 10 bln to hit five-month high
Updated : 3 years, 1 month ago IST
India's foreign exchange reserves rose by USD whopping USD 10.417 billion to USD 572.0 billion in the week ending on January 13.
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CBI raids 18 sites in Mumbai, Bhopal; recovers Rs 94 lakh in Illegal forex
Updated : 3 years, 1 month ago IST
According to CBI statement, it was alleged that during 2014-2016, a huge amount was remitted in foreign exchange (Forex) abroad from the accounts of nine entities through eight nationalised banks by submitting fake import documents such as bills of entry, bills of lading, among others, witho
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Pakistan economic woes may deepen if IMF programme not resumed: Report
Updated : 3 years, 1 month ago IST
IMF is delaying its 24th loan, and the Saudis and the UAE have warned Pakistan that they will no longer serve free lunch.
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There's evidence major central banks diversifying away from USD: Credit Su
Updated : 3 years, 1 month ago IST
At present, the US dollar represents slightly more than 60 per cent of global foreign exchange reserves at central banks, compared to more than 80 per cent in the early 1970s.
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Pakistan: Containers packed with essential items held up at Karachi port a
Updated : 3 years, 1 month ago IST
Banks are refusing to issue new letters of credit for importers due to a shortage of dollars. This has hit the economy which is already suffering due to soaring inflation in the country.
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'Shameful for nuclear power to beg': Pak PM amid worsening financial cris
Updated : 3 years, 1 month ago IST
Pakistan Prime Minister Shehbaz Sharif has said it is a matter of shame that a country, which is a nuclear power, has to beg amid its faltering economy, reported The News International.
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"India is relevant to world ..... Pakistan should recalibrate it's India p
Updated : 3 years, 1 month ago IST
Notably, India last year took over the UK to become the fifth largest economy in the world and is aiming to be the third largest economy in the world by 2037, while Pakistan's economy is running on financial assistance from the global community.
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India's forex reserves dip by USD 1.3 bln in first week of 2023
Updated : 3 years, 2 months ago IST
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, declined by USD 1.747 billion to USD 496,441 billion.
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Pakistan: SBP's forex reserves dwindle to USD 4.5 billion, Islamabad left
Updated : 3 years, 2 months ago IST
According to sources, the development left Pakistan with an import cover of only under a month, as the country grapples with a deteriorating economic crisis while trying to bring down imports amid a dollar shortage.
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India's forex reserves decline by USD 691 million for week ending Dec 23
Updated : 3 years, 2 months ago IST
India's foreign exchange reserves fell by USD 691 million to USD 562.808 billion in the week that ended on December 23, Reserve Bank of India's Bulletin Weekly Statistical Supplement latest data showed.
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State Bank of Pakistan's foreign exchange reserves plunge to 8-year low at
Updated : 3 years, 2 months ago IST
The plunge in forex reserve is a worrisome scenario as it will create problems in the repayment of its huge foreign debts.
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