SBP meets bank CEOs to discuss FX

News Image

MG News | November 19, 2021 at 09:42 AM GMT+05:00

0:00

November 19, 2021 (MLN): The State Bank of Pakistan (SBP) met the CEOs of different banks to discuss the position of foreign exchange reserves, and the positive developments in this matter, said a press release issued yesterday.

“The current account was negatively affected by the recent increase in imports. Also, the outflow of dollars due to the Afghanistan issue was also responsible for declining FX reserves. The relationship with IMF is also getting better and positive news on the matter is expected shortly,” it added.

However, SBP has taken outstanding measures to counter these problems and build a positive perception about the currency's stability. With regards to the Pakistani rupee, it was said that PKR’s position will be better once the Saudi funds arrive and Oil Facility comes through.

In this regard, it was suggested that undue currency positions are to be avoided. The internal staff and customers, need to be given clear communication about the stability of the environment and that it is moving in the positive direction, it noted.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 155,384.51
274.67M
0.61%
944.82
ALLSHR 95,133.57
856.28M
0.49%
465.41
KSE30 47,466.99
137.10M
0.74%
347.09
KMI30 227,645.22
99.71M
0.67%
1519.50
KMIALLSHR 63,888.06
353.11M
0.50%
319.01
BKTi 41,761.78
72.20M
0.33%
138.95
OGTi 31,619.14
7.57M
0.41%
130.35
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 115,220.00 117,240.00
114,940.00
-2045.00
-1.74%
BRENT CRUDE 67.14 67.52
66.78
0.15
0.22%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-1.20
-1.41%
ROTTERDAM COAL MONTHLY 93.00 0.00
0.00
0.05
0.05%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 62.90 63.24
62.52
0.21
0.34%
SUGAR #11 WORLD 15.90 15.98
15.80
0.11
0.70%

Chart of the Day


Latest News
September 15, 2025 at 05:53 PM GMT+05:00

Gold price in Pakistan remain unchanged


September 15, 2025 at 05:47 PM GMT+05:00

PIBTL swings to loss in FY25


September 15, 2025 at 05:30 PM GMT+05:00

KAPCO reports significant profit decline in FY25



Top 5 things to watch in this week

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