ISLAMABAD -More Good news coming for Pakistan on the economic front as theForeign inflows, reduced trade and fiscal deficits to bring down thepressure on Pakistani Rupee and the Reserves.
The consistent inflows of foreign exchange have built up Pakistan’sreserve levels and they have touched almost $16 billion.
According to the State Bank of Pakistan (SBP), the forex reserves surged to$15.99 billion by the end of 29 November, 2019 with fresh inflows of $431million in the last week.
They include foreign reserves of $9.11 billion held by the central ban (aneight-month high mark) and $6.88 billion held by commercial banks.
The improvement in the foreign exchange reserves depicts the healthyconfidence of investors on Pakistan’s economy coupled with the measurestaken by the government and the central bank alike. It also strengthens thevalue of Rupee against Dollar.
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In this fiscal year 2019-20, the reserves of the central bank haveincreased by $1.8 billion. The FX swaps and forward liabilities havereduced by $1.95 billion between June-October 2019.
The increase in the liquid SBP reserves and the reduction of the swaps /forward liabilities reflect the build-up of FX buffers.
The stabilizing situation of the foreign exchange reserves is one of theimportant indicators for the economic stability of the country besidescurrent account surplus, growth in export values and etc.
