SBP meets bank CEOs to discuss FX

News Image

By 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 132,929.51
116.40M
-0.33%
-440.63
ALLSHR 82,869.82
431.63M
-0.25%
-211.33
KSE30 40,517.14
37.15M
-0.46%
-188.17
KMI30 191,634.99
46.91M
-0.49%
-945.68
KMIALLSHR 55,702.11
247.05M
-0.24%
-133.61
BKTi 36,162.83
6.03M
-0.43%
-154.34
OGTi 28,352.74
3.54M
-0.67%
-190.22
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,520.00 108,880.00
107,680.00
65.00
0.06%
BRENT CRUDE 69.33 69.50
69.03
-0.25
-0.36%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.90
3.07%
ROTTERDAM COAL MONTHLY 106.00 106.75
106.00
0.25
0.24%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.61 67.97
67.40
-0.32
-0.47%
SUGAR #11 WORLD 16.25 16.46
16.07
-0.13
-0.79%

Chart of the Day


Latest News
July 08, 2025 at 11:39 AM GMT+05:00

Pakistan-Afghanistan railway talks progress


July 08, 2025 at 10:42 AM GMT+05:00

Pakistan moves to regulate crypto with PVARA approval


July 08, 2025 at 09:41 AM GMT+05:00

DFML assembles over 300 EVs for delivery



Top 5 things to watch in this week

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