Foreign Currency deposits remain stagnant in January

News Image

MG News | February 12, 2020 at 04:56 PM GMT+05:00

0:00

February 22, 2019 (MLN):  Foreign Currency Deposits during the month of January  2020 stood at $7.6 billion, increased marginally as compared to deposits recorded in January 2019.

While on a month-on-month basis, it remained the same, revealed State Bank of Pakistan (SBP) data on foreign currency deposits and its utilizations released today.  

The lacklustre growth in foreign currency deposits is mainly associated with PKR stability, as investors are reluctant to convert their savings into dollar deposits to evade the negative impact of PKR appreciation.

According to the data, foreign currency deposits by Residents stood at $6.778 billion during the month under review which was weakened marginally both on a monthly basis and yearly basis.

As these deposits help to finance large fiscal and external current account deficits, during the month $549 million has been utilized to finance country’s exports whereas, $664 million has been utilized for import financing.

Further, $1.48 billion has been placed with SBP, while $54 million and $564 million placed within Pakistani banks and outside Pakistan respectively.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg