Sign in Subscribe
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
  • Featured
  • Opinion
    • Comment
    • Editorial
  • Tech
    • Artificial Intelligence
  • World
  • Satire
Sign in
Welcome!Log into your account
Forgot your password?
Create an account
Sign up
Welcome!Register for an account
A password will be e-mailed to you.
Password recovery
Recover your password
Search
Sign inSubscribe
Profit Profit by Pakistan Today
Profit Profit
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
    • Economy

      Pakistan requests IMF adjustment to fiscal targets after Rs744 billion flood…

      FOREX

      Foreign exchange rates in Pakistan for today, October 09, 2025

      Headlines

      Gold price in Pakistan for today, October 09, 2025

      Headlines

      IMF-Pakistan talks end without staff-level deal, further discussions planned

      Headlines

      Govt notifies draft amendments for civil servant asset declarations to meet…

  • Featured
    • Featured

      Can fro-yo make a comeback?

      Cover story

      Why P&G is leaving Pakistan

      Consumer Goods

      Tepid growth for Colgate Palmolive Pakistan

      Editor’s picks

      Trump tariffs expected to boost PEL’s exports to the US

      News Analysis (Premium Content)

      Can Pakistan manage pension reforms with discipline rather than delay?

  • Opinion
    • AllCommentEditorial
      Comment

      Pakistan’s high-stakes crypto experiment

      Comment

      Do Pakistani businesses know how to diversify their business portfolios?

      Comment

      Pakistan’s tax myth: It isn’t the people, its the government

      Comment

      Market maker or market wrecker?

  • Tech
    • AllArtificial Intelligence
      Artificial Intelligence

      Experts project 7–12% GDP growth, 1 million jobs from Pakistan’s new…

      Headlines

      Air Link announces expansion plans with new production facility at Sundar…

      Tech

      OpenAI partners with Etsy, Shopify on ChatGPT payment checkout

      Headlines

      Islamabad IT Park to create 10,000 jobs, completion expected by December…

  • World
  • Satire

Pakistan consuming forex reserves at quickest rate across Asia: Report

By
Monitoring Desk
-
27/03/2018
0
523
Facebook
Twitter
Linkedin
WhatsApp
Email

    LAHORE: Pakistan is burning through its foreign exchange reserves at the quickest rate across Asia even surpassing Cambodia, an economy less than 10th its size.

    The country’s forex reserves have fallen by about a fifth in last year to touch $13.5 billion in February and in comparison, Cambodia has witnessed a rise in its forex reserves by a third to $11.2 billion in January as per data from International Monetary Fund, reported Bloomberg.

    As per Insight Securities, the country’s forex reserves are projected to decline by around $2.2 billon till June this year.

    The country is swathed by a balance of payment crisis, rising current account deficit (CAD) which has widened to 50 percent in the first eight months of FY 2017-18 to $10.8 billion.

    The rise in CAD has been driven by increase in imports as Pakistan’s economy continues growing at around 5 percent.

    Last Tuesday, the central bank allowed the rupee to devaluate against the dollar for the second time since December 2017.

    In a comment to Bloomberg, Head of economics department at Lahore University of Management Sciences (LUMS), Turab Hussain said “Your hot money capital inflows are not coming in. Real conditions of the economy are that exports are not picking up.”

    He added “Bangladesh are the ones that are a stronger economy now.”

    As per data collected by Bloomberg, Kazakhstan and New Zealand have more foreign exchange reserves and are smaller economies than Pakistan.

    • TAGS
    • BALANCE OF PAYMENTS
    • Cambodia
    • current account deficit
    • foreign exchange reserves
    • New Zealand
    • Pakistan's economy
    Facebook
    Twitter
    Linkedin
    WhatsApp
    Email
      Monitoring Desk
      Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

      RELATED ARTICLESMORE FROM AUTHOR

      Headlines

      SBP-held reserves decrease by $74mn due to external debt repayments

      Headlines

      SBP sees uptick of $14.4mn in foreign reserves 

      Headlines

      Pakistan’s forex reserves increase by $4mn to $13.4bn

      Whatsapp Newsletter
      Email Newsletter News Tips
      Profit by Pakistan Today
      Publishing Editor: Babar Nizami -- Editor Multimedia: Umar Aziz Khan -- Senior Editor: Abdullah Niazi -- Editorial Consultant: Ahtasam Ahmad -- Business Reporters: Taimoor Hassan | Shahab Omer l Zain Naeem | Shahnawaz Ali | Ghulam Abbass | Ahmad Ahmadani | Aziz Buneri -- Sub-Editor: Saddam Hussain -- Video Producer: Talha Farooqi -- Director Marketing : Mudassir Alam | Regional Heads of Marketing: Agha Anwer (Khi) | Kamal Rizvi (Lhe) | Malik Israr (Isb ) -- Manager Subscriptions: Irfan Farooq -- Pakistan’s #1 business magazine - your go-to source for business, economic and financial news.
      Contact us: [email protected]
      • Privacy policy
      Copyright © 2025. Pakistan Today. All Rights Reserved.