foreign exchange reserves

The way out for the Pakistan

According to Abdul Ghaffar Chaudhry the acting president of Islamabad Chamber of Commerce and Industry the fact of the decreasing foreign exchange reserves led to new opportunities and the next actions of the government will surely get back the confidence of investors and other businessmen in the economy of the country.

South Korean banks

South Korea announced about its bank’s foreign exchange traffic up to $100 billion with the aim to support markets throughout the financial crisis. This decision was taken in cooperation of the country government with the central bank. They have also added that central bank will provide $30 billion in liquidity with the aim to support the banks and exporters of the country as well as to help small banks in obtaining loans from foreign exchange reserves. Furthermore all deals of the banks of the country with international institutions made in foreign exchange from October 2008 to June 2009 will be covered for a period of three years.

Further growth of the China’s foreign exchange reserves

According to the announcement made by the officials of the central bank of the country the foreign exchange reserves of the China increased up to $1.905 trillion at the end of September. However the foreign exchange reserves of the country were also growing throughout the previous quarters of the year and came to the point of $377 billion. But this number shows us a certain gradual decrease in the rate of accumulation that became apparent after the financial crisis affected Chinese economy.

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