#Currencyupdate
1. PKR appreciated in Oct due to better external flows - SBP's forward liabilities are down by $919mn in Oct- implying that PKR is appreciating despite the fact that SBP is buying from the market 1/4
1. PKR appreciated in Oct due to better external flows - SBP's forward liabilities are down by $919mn in Oct- implying that PKR is appreciating despite the fact that SBP is buying from the market 1/4
2. In the last 3 trading days PKR is not appreciating, rather it is actually USD depreciation due to Trump exit - PKR is being depreciated against CYN, Euro and GBP in the last three sessions
3. Current account surplus trend is continued in Oct
2/4
3. Current account surplus trend is continued in Oct
2/4
4. Remittances to remain upbeat till travel is back to pre-Covid normal. According to a survey - many people from middle East used to send money back through friends/family visiting there. Now its coming from formal channels. 3/4
5. Demand of foreign currency through exchange companies is falling due to less travel outside Pakistan. Exchange companies/banks are selling dollar - SBP is buying - evident from reduction in forward labilities. This trend to continue till travel to be at pre-COVID normal 4/4
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