Sri Lanka’s foreign exchange pile rose for the first time in five months, likely due to deferment of payments to India under an Asian Clearing Union, even as the nation scrambles for credit lines to ease shortages. The stockpile rose to $1.92 billion at the end of […]
reserves
India’s Forex Reserves Rise By USD 3.854 Billion
India’s foreign exchange reserves increased by USD 3.854 billion to USD 601.363 billion in the week ended May 27, according to RBI data. In the previous week, the reserves rose by USD 4.230 billion to USD 597.509 billion. During the reporting week, the rise in forex reserves […]
Pak has forex to pay for 2 months of imports, reserves slip below $10 bn
Pakistan’s foreign exchange reserves fell below $10 billion, threatening to spill over into a fullblown economic crisis unless policy makers secure a loan from the International Monetary Fund. The stockpile decreased by $366 million in the week ended May 27 to stand at $9.72 billion, the central […]
10 African countries with the largest foreign exchange reserves
Just yesterday, President Yoweri Museveni of Uganda stressed that his government cannot afford to subsidise imports of essential foods and commodities, because doing so would be disastrous to his country’s paltry $4.5 billion foreign reserves. Other African countries have also taken steps to protect their foreign exchange reserves. In a […]
Pakistan forex reserves plunge to lowest level since Dec 2019: Report
Cash-strapped Pakistan’s foreign exchange reserves have dropped to their lowest level since December 2019, owing to an increase in current account and trade deficits, higher external debt payments and dried dollar inflows, according to a media report on Friday. As per data from Pakistan’s central […]
Forex reserves dip to 7-month low as central bank sells greenbacks
Taipei, May 5 (CNA) Taiwan’s foreign exchange reserves at the end of April fell to the lowest in seven months as the central bank continued to cut its holdings of U.S. dollars in a bid to prevent further weakness of the local currency, the central bank said Thursday. Data compiled […]
Forex reserves down $3.271 bn to $600.423 bn, says RBI data
The country’s foreign exchange reserves decreased by USD 3.271 billion to USD 600.423 billion in the week ended April 22, RBI data showed. In the previous week, the reserves had declined by USD 311 million to USD 603.694 billion. […]
Pakistan has a ‘strategy’ to boost shrinking forex reserves: FM | Business and Economy News
Karachi, Pakistan – Despite its fast-shrinking foreign exchange reserves which will inhibit imports of essential fuel, cooking oil and pulses, Pakistan says it will not be in dire straits like neighbouring Sri Lanka and that it has a “strategy” to boost its reserves. “No chance of default, none,” said Pakistan’s […]
Nepal bans import of luxurious items to save declining forex reserves
Nepal has formally banned the import of cars and other luxurious goods, including whisky and tobacco and have introduced two public holidays, citing a liquidity crunch and declining foreign exchange reserves, despite government assurances that the economy will not go into a tailspin like Sri Lanka. […]
‘India builds up forex reserves as China, others eye foreign assets’
With countries led by China focussing on accumulating assets abroad rather than boosting foreign exchange (forex) reserves, global forex reserves as a share of GDP have fallen from 15.4 per cent of GDP to below 14 per cent in the last six years, says a research report from Credit Suisse. […]