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Current Account witnesses USD 160 million surplus in Dec 2011, 6MFY12 CAD reaches USD 2.154 billion – Alfalah Securities Limited

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by January 18, 2012 Brokerage

Karachi: Pakistan’s current account has witnessed a surplus of USD 160mn in December 2011 as against USD 868 million in the same period last year, whereby taking the cumulative 6MFY12 current account deficit to USD 2.154 billion from USD 2.314 billion in the 5MFY12.

According to Alfalah Securities Limited, a surplus in the current account for December is attributable to sky rocketing remittances being recorded at USD 1.085 billion for the month, which has covered the impact of high trade imbalance witnessed at USD 1.025 billion during December 2011. Alfalah Securities Limited believes the inflow of remittances if witnessed at current pace would serve as a cushion against the country’s high trade deficit and would keep the Pak Rupee and forex reserves stable.

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