The State Bank of Pakistan (SBP) has increased Workers’ remittances by a significant 50.7% during June 2020 to reach record high USD 2,466.2 million compared with USD 1,636.4 million in June 2019. Similarly, on a cumulative basis, workers’ remittances increased to a historic high level of USD 23,120.7 million during FY20, witnessing a growth of … Read more
The State Bank of Pakistan has announced that all banks in the country will be observing 9 am to 5:30 pm office hours Monday to Friday. According to the circular issued by the SBP, these timings will be effective from July 13 (Monday) till further orders. It will also include prayer and lunch breaks from … Read more
The US Dollar has decreased against Pakistani Rupee. According to the data released by the State Bank of Pakistan, the US Dollar has become 19 paise cheaper in the interbank market. [embedpost id=”50366″ slug=”gold-prices-increase-by-rs-2400-in-pakistan”] The Forex dealers said, the dollar fell from 166.95 to close at Rs 166.76 in the interbank market. Interbank closing #ExchangeRate … Read more
The State Bank of Pakistan has reduced the markup rate on investment under SBP’s Temporary Economic Refinance Facility (TERF) to 5% (from 7%) and on Long Term Financing Facility. According to the details, SBP reduces markup rate on investment under SBP’s Temporary Economic Refinance Facility (TERF) to 5% (from 7%) and on Long Term Financing … Read more
The value of the US Dollar has risen again. According to a statement issued by the State Bank of Pakistan, the US Dollar has risen by 23 paise in the interbank market. [embedpost id=”50366″ slug=”gold-prices-increase-by-rs-1000-in-pakistan”] The Forex dealers said, the dollar has increased from 166.72 to close at Rs 166.95 in the interbank market. Interbank … Read more
The value of the US dollar has risen again. According to a statement issued by the State Bank of Pakistan, the US dollar has risen by 51 paise in the interbank market. [embedpost id=”50366″ slug=”dollar-to-pkr-today-1-usd-to-pkr-6th-july-2020″] The Forex dealers said, the dollar has risen from PKR 166.21 to PKR 166.72 in the interbank market. Interbank closing … Read more
The US dollar has decreased. According to a statement issued by the State Bank of Pakistan, the dollar has become cheaper by Rs 1.17 in the interbank market. [embedpost id=”50366″ slug=”btc-to-usd-todays-1-bitcoin-to-usd-price-on-2nd-jul-2020″] According to Forex dealers, the dollar has fallen from 168.05 to 166.88 in the interbank market. Interbank closing #ExchangeRate for today: https://t.co/yQMFlkqUDl pic.twitter.com/PDjhjQw2xR — … Read more
The US Dollar decreased on the second day of the trading week. According to the details, during the second day of the business week, the US Dollar decreased by 13 paise against the Pakistani rupee. [embedpost id=”50366″ slug=”usd-to-pkr-us-dollars-loses-33-paisas-today-30th-june-2020″] The data released by the State Bank of Pakistan said, the US currency decreased by 13 paise, … Read more
State Bank of Pakistan will be closed for public transactions on Wednesday, July 1, 2020 on the occasion of “Bank Holiday”. According to a statement issued by the State Bank of Pakistan, the SBP will be closed for public transactions on Wednesday, July 1, 2020 on the occasion of “Bank Holiday”. [embedpost id=”50366″ slug=”state-bank-of-pakistan-brings-policy-rate-to-7″] It … Read more
The Asian Development Bank (ADB) and the World Bank has given by $1 billion to Pakistan on Wednesday (Jun 24). According to the details, Pakistan has received $500 million each from the Asian Development Bank (ADB) and the World Bank after which $1 billion has been increased in the foreign exchange reserves of the country. … Read more
The US Dollar has decreased in interbank market. According to the data released by the State Bank of Pakistan, the US Dollar has decreased by 34 paise in the interbank market. The Forex dealers said, the dollar fell from Rs 164.58 to Rs 164.24 in the interbank market. Interbank closing #ExchangeRate for today: https://t.co/tjOVidP2fn pic.twitter.com/SOrj4z4V8j … Read more
The third round of budget negotiations between Pakistan and the International Monetary Fund (IMF) have been successful in which some important decisions have been considered. The budget talks between Pakistan and the IMF have also agreed to increase salaries and pensions, and the IMF has agreed that electricity and gas will not be expensive until … Read more
The value of the dollar has risen again today (Jun 9). According to the data released by the State Bank of Pakistan, the US Dollar has risen by 71 paisa in the interbank market. Forex dealers said, the dollar has risen from Rs 163.62 to Rs 164.33 in the interbank market. Interbank closing #ExchangeRate for … Read more
The value of the dollar has risen again. According to the data released by the State Bank of Pakistan, the value of the US Dollar has risen by 32 paisa in the open market. The Exchange Companies Association said, the dollar increased to Rs 163.62 from Rs 163.30 after increasing 32 paisa. Interbank closing #ExchangeRate … Read more
The State Bank of Pakistan (SBP) has released a report on the impact of Coronavirus pandemic on the economy. According to the SBP, the coronavirus has affected trade, remittances and investment, while the global economy has also suffered. The report said lower oil prices benefited importing countries. SBP stated that the Coronavirus has affected business … Read more
State Bank of Pakistan (SBP) has enhanced refinance limits under its Rozgar Scheme to finance up to 100% of wages/salaries of businesses with average 3month wage bill of up to Rs500mn for onward payments for April, May and June, 2020. In its latest press release, mentioned on twitter handle, SBP) has enhanced refinance limits under … Read more
Federal Government has allocated Rs 30 billion under a credit risk sharing facility for the banks spread over four years to share the burden of losses due to any bad loans in future. According to the latest press release by State Bank of Pakistan Federal Government has allocated thirty billion rupees to support bank lending to … Read more
Prime Minister Imran Khan has said that the Ehsaas emergency cash program is underway and meanwhile government is seeking to offer business incentives. Imran Khan took to Twitter and wrote “Today State Bank of Pakistan (SBP) has announced incentives for businesses as part of our policy of balancing between protecting people through a targeted lock-down … Read more
SBP Governor Says, Inflation Would Decrease in Coming Days due to Coronavirus outbreak. Reza Baqir, Governor State Bank of Pakistan, said the inflation is expected to decrease in the coming days’ and the central bank ready to “take action” regarding the interest rate in a pandemic situation. He said the central bank decided the interest … Read more
State Bank of Pakistan (SPB) has extended its relief package to borrowers availing loans under Refinance Schemes. According to the details, State Bank has allowed similar relaxations, as provided under the relief package, on its concessional refinance schemes. Under various refinance schemes loans are provided with preferential terms and conditions to promote growth in priority … Read more
American business and financial services Moody’s has stated that On March 26th, State Bank of Pakistan (SBP), the country’s central bank, cut its policy rate 150 basis points to 11%, reduced banks’ capital conservation buffers (CCB) 100 basis points to 1.5%, relaxed terms for new and existing loans and announced other forbearance measures to increase … Read more
State Bank of Pakistan (SBP) announced to relax loans for households and businesses in light of the ongoing coronavirus pandemic which is expected to severely shake the Pakistani economy. SBP stated in a series of Tweets “in collaboration with the Pakistan Banks Association (PBA) — was aimed at helping people “manage their finances through this … Read more
The State Bank of Pakistan (SBP) reduced interest rates to 11 percent. The State Bank’s Monetary Policy Committee’s decision came in a wake of economic difficulties due to ongoing Coronavirus pandemic. SBP called an emergency meeting in which decision made to reduce by 150 basis points. The policy rate has dropped by 150 basis points … Read more
The State Bank of Pakistan (SBP) has declared the recent spike in inflationary pressure as a ‘transitory’ phenomena. The SBP says that the headline inflation of 14.6 percent was broadly in line with projection of the central bank. Although the recent spike in inflation had surprised many economic experts, the state bank has taken the … Read more
ISLAMABAD: The federal government has asked the State Bank of Pakistan (SBP) to divest its entire shareholding in House Building Finance Company (HBFC), which will pave the way for the housing finance company’s privatisation, officials say. According to the Finance Division, HBFC is a public limited company in which the government held 62.50% shares while the … Read more
PTI Government’s efforts to boost the foreign exchange reserves have shown the results as the reserves held by the central bank have shot up to one and a half year, striking the $10-billion mark. The foreign exchange reserves held by the central bank increased 18% on a weekly basis, according to data released by the … Read more
The State Bank of Pakistan (SBP) has enhanced payment limit against freelance services from $1,500 to $5,000 per month, it said in a statement. The measure was taken to broaden the scope of business to customer transactions through home remittance channel. It aims to facilitate freelancers by allowing them to route funds through the economical … Read more
State Bank of Pakistan has released its Annual Report on The State of Pakistan’s Economy for the fiscal year 2018-19 today. According to the report, several policy measures were taken during the year to manage the twin deficits crisis. In particular, adjustment of exchange rate to market fundamentals, curtailment in public sector development expenditure, and … Read more
