KARACHI - Pakistan observed an 56 percent increase in the wake of foreign direct investment (FDI) during the first quarter of fiscal year 2017-18 on year-on-year basis, the State Bank of Pakistan (SBP) reported on Wednesday.
With an increase of $238.5 million, the inflows surged to $662 million from $423m of last year during the first quarter.
However, foreign exchange reserves showing a positive note as its major sources, including foreign remittance and exports showed growth with the start of new fiscal year.
According to statistical data, Chinese investment rose 216 percent to $430 from $136 on year-on-year basis during the first quarter. The investment makes 65 percent of the total foreign investment.
Only in September, the total FDI was recorded at $204.8m. However, the inflow from China remained $178.7m, from Kuwait $15m and Netherlands $14.5m.
The investment from the United Arab Emirates, United States and Hungry were about $22m each while FDI from France remained $28.5m.
In the wake of overall foreign private investment, an increase of 29.5pc to $583.7m was observed during the quarter.
During the said period, a net outflow of $78.2m in portfolio investment was registered reducing the impact of higher FDI.
Pakistani rupee inches up against US dollar in the open market on 28 March, 2024.
In the open market, the US dollar was being quoted at 278.4 for buying and 281.4 for selling.
Euro moves down to 299.75 for buying and 302.75 for selling while British Pound hovers around 353.75 for buying, and 357.25 for selling.
UAE Dirham AED remains stable at 75.55 whereas the Saudi Riyal saw minor increase, with new rates at 73.70.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 278.4 | 281.4 |
Euro | EUR | 299.75 | 302.75 |
UK Pound Sterling | GBP | 353.75 | 357.25 |
U.A.E Dirham | AED | 75.55 | 76.3 |
Saudi Riyal | SAR | 73.7 | 74.4 |
Australian Dollar | AUD | 182.9 | 184.7 |
Bahrain Dinar | BHD | 739.61 | 747.61 |
Canadian Dollar | CAD | 204.25 | 206.45 |
China Yuan | CNY | 38.74 | 39.14 |
Danish Krone | DKK | 40.30 | 40.70 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 901.14 | 910.14 |
Malaysian Ringgit | MYR | 59.25 | 59.85 |
New Zealand Dollar | NZD | 168.56 | 170.56 |
Norwegians Krone | NOK | 26.19 | 26.49 |
Omani Riyal | OMR | 724.36 | 732.36 |
Qatari Riyal | QAR | 76.57 | 77.27 |
Singapore Dollar | SGD | 206.25 | 208.25 |
Swedish Korona | SEK | 26.89 | 27.19 |
Swiss Franc | CHF | 313.78 | 316.28 |
Thai Bhat | THB | 7.76 | 7.91 |
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