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Karachi: The Pakistani Rupee (PKR) appreciated by 09 paisa against the US Dollar (USD) on Tuesday in the interbank market, as reported by the State Bank of Pakistan (SBP). The greenback closed at Rs 278.61, compared to the previous day’s closing rate of Rs 278.70, reflecting a marginal improvement in the local currency’s value. In …
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The State Bank of Pakistan (SBP) is pleased to announce the results of the art competition held for the design of a new series of banknotes. The local artists and designers who participated are commendable for showcasing their creativity on this important occasion. After careful review by a committee comprising esteemed experts from relevant fields, …
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Karachi: The State Bank of Pakistan (SBP) reported a decline of $36.4 million in the country’s foreign exchange reserves over the past week. As of August 30th, the total reserves decreased from $14.7763 billion to $14.7399 billion. Read: Daily Crime Rate in Karachi Drops, Says Additional IG Sindh at KATI Meeting According to the SBP, despite …
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The Pakistani Rupee (PKR) slightly devalued by Rs 0.6 against the US Dollar in interbank trading on Tuesday, closing at Rs 278.70. This marks a minor decline from the previous day’s closing rate of Rs 278.64. According to news reports, The Forex Association of Pakistan (FAP) reported that in the open market, the buying and …
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The State Bank of Pakistan (SBP) has designated Domestic Systemically Important Banks (D-SIBs) for the year 2024. This decision is part of the ongoing effort to ensure financial stability in the country and aligns with the framework introduced by the SBP in April 2018. The framework is designed to meet international standards while considering both …
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SBP Maintains 22% Policy Rate: Monetary Policy Statement In its recent announcement, the State Bank of Pakistan (SBP) upheld the policy rate at 22 percent after careful evaluation of economic conditions. The announcement was made after the meeting of Monetary Policy Committee in Karachi on Monday March 18, 2024 Despite a decline in inflation since …
The Pakistani rupee had been going up for five days in a row, but on Tuesday, it lost 0.24% on the interbank market. On the interbank market, the local unit ended the day at 262.51 against the US dollar. This was down Rs0.63 from Monday’s close, when it was at 261.88. Pakistan’s real effective exchange …
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Karachi: The State Bank of Pakistan released today its Annual Report on the State of Pakistan’s Economy reviewing the fiscal year 2020-21. According to the report, Pakistan’ economy rebounded during FY21, with real GDP growth rising to 3.9 percent. Importantly, this expansion in economic activity was accompanied by a 10-year low current account balance that …
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Karachi: The State Bank of Pakistan (SBP) has revised Prudential Regulations (PRS) for Consumer Financing. This targeted step will help to moderate demand growth in the economy, leading to slower import growth and thus supporting the balance-of-payments. The changes in the PRs effectively prohibit financing for imported vehicles, and tighten regulatory requirements for financing of …
KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is scheduled to announce the policy rate at 4:30 p.m. today (Monday). Due to the present economic scenario, experts predict that the interest rate will remain at 7%. SBP Governor Dr Reza Baqir stated in July’s policy statement that the policy rate …
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