Pakistan's treasury was filled / with dollars overnight

 

Pakistan's treasury was filled / with dollars overnight

Pakistan's treasury was filled with dollars overnight

During one day, 14, while during one week, the reserves of the State Bank increased by more than 180 million dollars, the reserves of the Central Bank exceeded 8 billion 46 million dollars, and the total foreign exchange reserves reached the level of 15 billion 75 million dollars.

Karachi (Pakistan News September 12, 2019) Pakistan's treasury was filled with dollars overnight, 14 in one day and more than 180 million dollars in the reserves of the State Bank in one week, the reserves of the Central Bank Exceeded 8 billion 46 million dollars, total foreign exchange reserves reached the level of 15 billion 75 million dollars. According to the details, Pakistan's foreign exchange reserves continue to increase sharply.

According to the report of a private TV channel, an increase of 140 million dollars has been seen in the reserves of the Central Bank of Pakistan during a single day. While the reserves of the State Bank have increased by more than 18 million dollars during a week. The reserves of the State Bank of Pakistan are continuously increasing and currently, the reserves of the central bank have exceeded 8 billion 46 million dollars.

On the other hand, the reserves of commercial banks have decreased by a few million dollars. Currently, the total foreign exchange reserves of Pakistan have increased from 15 billion 57 million dollars to 15 billion 75 million dollars. Due to the sharp increase in Pakistan's total foreign exchange reserves, the rupee is also stabilizing and the dollar continues to depreciate. During the last 2 months in the currency market of Pakistan, the value of the rupee has increased while the value of the dollar has decreased.

During the last 2 months, the dollar has depreciated by 7 rupees against the rupee. In the currency market of Pakistan, the price of the dollar has decreased from 163 rupees to a little over 156 rupees. However, some increase in the dollar price has been seen in the open market on Thursday. The dollar gained 10 paise against the rupee at the end of the trading day in the open market.

Thus, the price of the dollar reached the level of 156 rupees 60 paise in the open market. However, surprisingly, the increase in the value of the dollar in the open market did not affect the interbank market. Generally, if the dollar is cheap in the open market, the dollar also becomes cheap in the interbank market. While if the dollar is expensive in the open market, the value of the dollar also increases in the interbank market. However, on Thursday, the matter was reversed. In the open market, the dollar became more expensive by 10 paise, while the price of the dollar decreased by 12 paise in the interbank market.

At the end of the business day, the US currency closed 12 paise cheaper at Rs 156.18 at the interbank level.