Increased FX buffer by $4.8Bln in last five months provides stability to external account: Hafeez Shaikh

By MG News | December 20, 2019 at 01:19 PM GMT+05:00

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December 20, 2019 (MLN): Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh has said that current account deficit is down by 72.6% YoY in November 2019, whereas it was reduced by 73% in first five months of the current financial year as against the corresponding period of last year.

In a tweet, the Adviser said during last five months, increase in State Bank of Pakistan's reserves by $1.8 billion and reduction of $3 billion in FX swaps/forward liabilities increased FX buffer by $4.8 billion which provided further stability to the external account.

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