In addition, "a large part of the foreign exchange
purchases made by the economic actors was financed by dinar credits obtained from the banking sector, even with the pledge of certain currencies in certain cases.
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'This is also indicative of Jamaica's commitment to a successful foreign exchange
industry, one that is comparable to international standards,' she added.
Generally speaking, the increase in foreign exchange
reserves cannot only enhance the ability of macro-control, but also help maintain the international reputation between the country and enterprises, expand international trade, attract foreign investment, reduce domestic corporate financing costs, prevent and resolve international financial risks.
'Secondly, we analyzed our import bill and encouraged manufacturers to consider local options in sourcing their raw materials, by restricting access to foreign exchange
on 41 items.
It said all online foreign exchange
brokers or money managers not licensed by the Authority should cease trading immediately.
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President, Rahim Madhavji has said, "It's an honour to be ranked so well two years running.
We will need a mix of everything from hauling in foreign exchange
hoarded abroad to borrowing from other international financial institutions, seeking foreign commercial loans, launching sovereign bonds and issuing dollar-denominated certificates of investment for overseas Pakistanis.
Last October it opened its fifth foreign exchange
service center at a Uijeongbu branch, after ones in Ansan and Ojang-dong in Seoul, Gimhae in South Gyeongsang Province and Gwangju in Gyeonggi Province.
It was also agreed that the CBL, working along with NAFEBOL, will consider establishing a Joint Task Force that will include the CBL, NAFEBOL, the Liberian National Police, and the Paynesville and Monrovia City Corporations to weed out illegal foreign exchange
operators from the streets.
In an interesting development, the government, confessing before the National Assembly (NA) that Pakistan's external debt bearing capacity has deteriorated further last year, admitted that except one, all external debt sustainability indicators have weakened.The government, in its Debt Policy Statement 2017-18, has admitted that during the last fiscal year the country's external debt has increased at a rapid pace as compared to its foreign exchange
Summary: Net foreign exchange
assets fell from 14,102 MTD at the end of 2015 to 13,155 MTD at the end of October 2016.