The foreign currency investment made by overseas Pakistanis through the Roshan Digital Account (RDA) reached a 19-month high at $182 million in March 2024, which indicated an increase in confidence of expatriate Pakistanis in the national economy. According to the State Bank of Pakistan’s (SBP) data, the inflows increased by 29% to $182 million as compared to the investment of $141 million in F
World Bank’s (WB) Global Director for Governance, Arturo Herrera Gutierrez, on Thursday stressed the need for ‘bold’ fiscal reforms to address Pakistan’s debt distress and achieve macroeconomic stability. Speaking at a lecture organised by the Pakistan Institute of Development Economics (PIDE), Gutierrez highlighted the urgency of sustainable fiscal reforms, drawing from international experienc
Pakistani currency on Thursday hit a five-week low at Rs278.48 against the US dollar in the inter-bank market, maintaining its downward trend over the past one month amid speculation about lower supply of the foreign currency and an uptick in its demand in the market. According to the State Bank of Pakistan’s (SBP) data, the rupee shrank 0.03%, or Rs0.09, and closed at Rs278.48 against the gree
The central bank has purchased over $5 billion from the market during this fiscal year, a record amount that is equal to two-thirds of Pakistan’s official foreign exchange reserves and also far higher than the size of the International Monetary Fund (IMF) bailout package. While the central bank’s intervention has kept foreign currency reserves stable at $8 billion despite heavy debt repayments,
AS a new-found stability settles across the land all eyes are turning towards its durability. The current account has been registering persistent surpluses for a number of months now, and looks set to complete this fiscal year in positive territory if present trends continue. The primary balance on the fiscal account was also in surplus until December, with all indications suggesting it will comfo