Pakistan’s foreign exchange reserves dropped to $18.968 billion during the week ended February 9 from $19.354 billion a week ago, the central bank reported on Thursday.
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Pakistan’s foreign exchange reserves dropped to $18.968 billion during the week ended February 9 from $19.354 billion a week ago, the central bank reported on Thursday.
The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell $277 million to $12.834 billion, owing to external debt servicing and other official payments. The foreign exchange reserves of commercial banks increased to $6.134 billion as compared to $6.122 billion during the previous week.
might lift interest rates four times weighed on the currency this year. The Aussie Dollar also fell against a basket of currency during the said period.
US Federal Reserve Chair Jerome Powell was the reagent behind the
“I think each of us is going to be taking the developments since the December meeting into account and writing down our new rate paths as we go into the March meeting,” Powell told reports. “We’ve seen some data that will, in my case, add some confidence to my view that
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inflation is moving up to target. We’ve also seen strength around the globe and we’ve seen fiscal policy become more stimulative.”
Investors took his word as a signal and such had an impact in the
financial market situation during the session. This has consequently increased the values of the US bond yields and the US dollar. However, a decline on US stocks was seen as well.
Investors took his word as a signal and such had an impact in the financial market situation during the session. This has consequently increased the values of the US bond yields and the US dollar. However, a decline on US stocks was seen as well.
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