News Muncher - searching for china

1 year, 4 months ago

Pakistan granted rollover on $2.4bn Chinese loan: minister

China has granted Pakistan a two-year rollover on a $2.4 billion loan, Islamabad said Thursday, giving the debt-saddled nation breathing space in its balance-of-payments crisis. Soaring inflation, shrinking dollar reserves and crippling foreign debt led Pakistan to the brink of default before a pivotal $3 billion IMF bailout was granted earlier this month. Finance Minister Ishaq Dar said China's EXIM …

Pakistan Imf Billion Loan

1 year, 6 months ago

Dedollarisation: China's state-owned banks cut interest rates on dollar deposits to boost forex trade in yuan

Firstpost

China is prepping its yuan to become the next dollar and the global reserve currency. In the latest salvo fired at the dollar, China has told its state-owned banks to substantially reduce interest on dollar deposits, a Reuters report said. In China, interest rates offered by the banks on dollar deposits of $50,000 and above have been capped at 4.3 …

China Interest Rates Interest Yuan Rates Dollar Deposits

1 year, 8 months ago

Pakistan Central Bank’s Forex Reserves Decrease by $354 Million; Now Stand at $4.2 Billion

News 18

The forex reserves held by Pakistan’s central bank decreased by another $354 million to $4.2 billion, according to the State Bank of Pakistan. “During the week ended on March 24, 2023, SBP’s reserves decreased by $354 million to $4,244.3 million due to external debt repayment,” the SBP said in a statement. Total liquid foreign reserves held by the country stood …

Pakistan Sbp Reserves Decrease

1 year, 10 months ago

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves

News 18

Watching warily Pakistan plunging into the worst economic crisis with prospects of defaulting on foreign loans, China which holds Islamabad’s largest debt on Monday said it backed measures taken by its “all-weather friend” to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion …

China Pakistan Sri Lanka Bank Debt Billion Lanka

1 year, 11 months ago

Pakistan imports threatened as forex reserves hit eight-year low

Firstpost

Pakistan has just $11.4 billion in reserves – enough to pay for just three weeks of imports, traders and economists say Karachi: Pakistan’s central bank forex reserves have plunged to an eight-year low of $5.6 billion, posing a serious challenge for the country in financing imports. Coupled with another $5.8 billion held by commercial banks, the nation has $11.4 billion …

Imf Karachi Pakistan

2 years, 2 months ago

More global forex turmoil ahead

China Daily

A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. Huge forex interventions As the world economy is teetering at the edge of still another global recession, the Fed's belated and aggressive tightening is causing huge monetary shocks in the world economy. Nevertheless, these huge forex interventions take place in the most …

Global India China Japan World Crisis Billion

3 years, 5 months ago

Foreign exchange reserves comfortable: Pankaj Chaudhary

Live Mint

India’s foreign exchange position is comfortable with a reserve of $608.9 billion as on 25 June, minister of state for finance Pankaj Chaudhary informed the Lok Sabha on Monday. India is the fifth largest holder of foreign exchange reserves after China, Japan, Switzerland and Russia, the minister said in a written reply to a question. India’s reserves are comfortable in …

India Reserve

3 years, 5 months ago

India still vulnerable to 2013-like capital flight due to US monetary tightening, but forex reserves boost resilience

Live Mint

India's $600 billion in reserves should help it fight market volatility from any U.S. monetary tightening, but analysts and traders warn a slowing economy and an expanding fiscal deficit still make it particularly vulnerable to capital flight. While India's increased currency reserves are expected to boost resilience this time -- $604 billion now compared with $270 billion in 2013 -- …

India Fed Rbi Rupee Reserves

3 years, 6 months ago

PBOC raises requirement for banks' forex deposits