Reserves number highlighting containment of C/A deficit

MG News | November 08, 2018 at 07:12 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

By Muzzammil Aslam

The Foreign reserves dropped by USD 228 million during the last two weeks out of which commercial banks reserves dipped USD 83 million. Adjusted SBP reserves declined came in at USD 145 million.

This is very important to consider, assuming no foreign flows poured in the last two weeks, should we assume current account deficit took a huge fall? In my opinion this is likely. Post devaluation and interim budget already markets witnessed a massive slowdown and sales number are not encouraging.

Sentimentally, this is bad and good news. The good news is obviously slowdown in reserves leakage, but bad news is slowdown in economic growth and may spark shortfall in tax revenues, as import slowdown may be the factor behind this.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	167,684.62 77.15M	0.14% 233.48
ALLSHR	101,105.56 334.57M	0.10% 104.55
KSE30	50,139.30 28.69M	0.11% 56.21
KMI30	242,192.81 31.67M	0.40% 971.94
KMIALLSHR	66,020.85 191.82M	0.31% 203.95
BKTi	45,490.36 12.15M	-0.32% -145.87
OGTi	35,569.32 1.79M	0.31% 111.54

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,995.00	80,120.00 78,985.00	250.00 0.31%
BRENT CRUDE	105.23	106.40 105.08	-0.40 -0.38%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-6.75 -5.78%
ROTTERDAM COAL MONTHLY	109.80	109.80 108.15	0.10 0.09%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	100.57	101.82 100.37	-0.45 -0.45%
SUGAR #11 WORLD	15.39	15.41 14.95	0.38 2.53%