ISLAMABAD: Saudi Crown Prince Mohammed bin Salman has announced a $3 billion financial deposit for Pakistan, underscoring Riyadh’s continued support for Islamabad’s economic stability and close bilateral ties. According to informed sources, the Crown Prince recently sent Saudi Arabia’s finance minister on a brief visit to Pakistan to reassure the leadership. The message conveyed that […]
Pakistan foreign exchange reserves
Pakistan’s forex reserves rise by $1.26 million
Pakistan’s State Bank of Pakistan reported an increase of $1.26 million in foreign exchange reserves last week. The rise reflects gradual improvement in the country’s external financial position. The development is significant for trade stability and currency management. According to data released by the central bank, reserves reached $16.353 billion following the $1.26 million increase. […]
Pakistan’s outlook changed to negative from stable: Moody’s International
SINGAPORE: Moody’s Investors Service on Wednesday affirmed Pakistan’s B3 rating’s outlook was changed to negative from stable. A report issued by Moody’s International stated that the decision to change the outlook to negative was driven by the heightened external vulnerability risk. According to the report, Pakistan’s forex reserves had fallen to the lowest level, with […]
Pakistan’s forex reserves depletion fastest in Asia: Bloomberg
Bloomberg, a United States (US) based financial company, revealed that Pakistan’s dollar reserves were depleting rapidly. As per Bloomberg’s assessment of the International Monetary Fund’s data, Pakistan’s dollar reserves had fallen by about a fifth in the previous year to reach $13.5 billion and were expected to drop to as low as $2.2 billion by […]