KARACHI: Pakistan’s total liquid foreign reserves reached $19,810.4 million as of October 3, 2025, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday. The central bank reported that its own reserves stood at $14,420.1 million, while commercial banks held $5,390.3 million during the same period. During the week ending … Read more
The State Bank of Pakistan has launched an electronic bikes and rickshaw scheme under which 116,000 e-bikes and 3,170 rickshaws/loaders will be provided in two phases. In the first phase, 40,000 e-bikes and 1,000 e-rickshaws/loaders will be distributed, while the second phase will see the delivery of 76,000 e-bikes and 2,171 e-rickshaws/loaders. For financing, borrowers … Read more
Karachi: The State Bank of Pakistan (SBP) has announced its new monetary policy, deciding to keep the interest rate unchanged at 11%. The Monetary Policy Committee (MPC) held its second meeting of the year today, chaired by SBP Governor Jameel Ahmad. In the meeting, the committee decided to maintain the policy rate at its current … Read more
Pakistan’s liquid foreign reserves stood at $19,659.5 million as of August 29, 2025. According to the data released by the State Bank of Pakistan (SBP) on Thursday, the central bank held $14,302.5 million in reserves, while commercial banks held $5,357 million. During the week ending August 29, SBP’s reserves increased by $28 million, reaching $14,302.5 … Read more
The State Bank of Pakistan (SBP) has taken a big step toward a cashless economy by launching a pilot project for a Central Bank Digital Currency (CBDC) in partnership with Japanese blockchain company Soramitsu. According to Nikkei Asia, work on the project began earlier this year. The digital Pakistani rupee will run on Soramitsu’s CBDC … Read more
Islamabad: Pakistan is expected to repay more than $23 billion in external debt obligations during the current fiscal year, according to sources familiar with the matter. Of this amount, approximately $12 billion comprises deposits held in two different categories, with hope that friendly nations will grant rollover agreements to avoid immediate repayment. The remaining $11 … Read more
The State Bank of Pakistan (SBP) has issued the guidelines for the Regulatory Sandbox (RSB) under the Payment Systems and Electronic Fund Transfers (PS&EFT) Act, 2007. The objective of these guidelines is to facilitate new and existing entities, including startups, to test their financial solutions under a controlled regulatory environment. The State Bank of Pakistan … Read more
The State Bank of Pakistan (SBP), along with 12 major banks, has started a new campaign called “Go Cashless” in Karachi. This campaign is meant to encourage people to use digital payments instead of cash and help move the country toward a cashless economy. The campaign was officially launched by SBP Deputy Governor Saleem Ullah … Read more
The State Bank of Pakistan has decided to reduces its main interest rate by 1% to 11%. This change, announced after the Monetary Policy Committee meeting, will come into effect on May 6, 2025. The decision was made because inflation dropped sharply in March and April. This was mostly due to lower electricity prices and … Read more
As of April 18, 2025, Pakistan’s total liquid foreign reserves were $15.4 billion. Out of this, the State Bank of Pakistan (SBP) held $10.2 billion, while commercial banks held $5.2 billion. During the week ending April 18, the central bank’s reserves dropped by $367 million due to payments on external debt. This was the second … Read more
Pakistan’s liquid foreign reserves stood at $15,551 million as of March 21, 2025. According to the data released by the State Bank of Pakistan (SBP) on Thursday, liquid foreign reserves held by the central bank stood at 10,606.8 million. As of March 21, 2025, net foreign reserves held by commercial banks stood at $4,944.2 million. … Read more
The State Bank of Pakistan (SBP) plans to issue new currency notes starting in the second half of 2025, as announced by Governor Jameel Ahmad. The new series of notes will feature enhanced security measures and will gradually replace the current currency. The rollout will be conducted one denomination at a time, rather than introducing … Read more
The State Bank of Pakistan (SBP) has reduced its policy rate by 1% (100 basis points), bringing it down to 12%. The widely anticipated decision was announced by SBP Governor Jameel Ahmed after a meeting of the Monetary Policy Committee (MPC) in Karachi on Monday. This marks the sixth consecutive rate cut since June 2024, … Read more
The State Bank of Pakistan (SBP) announced on Thursday that the United Arab Emirates (UAE) has confirmed the rollover of two deposits, each worth $1 billion, placed with Pakistan. The deposits, which were set to mature in January 2025, have now been extended for another year. Earlier this month, Prime Minister Shehbaz Sharif informed the … Read more
The State Bank of Pakistan (SBP) is set to reveal the year’s first monetary policy on January 27, following a Monetary Policy Committee (MPC) meeting scheduled for Monday. During the meeting, key economic indicators will be reviewed to determine any changes in the base interest rate. The SBP governor will announce the committee’s decision at … Read more
KARACHI: Pakistan’s liquid foreign reserves were reported at $16,408.7 million as of December 27, 2024, according to data released by the State Bank of Pakistan (SBP) on Thursday. Out of this total, the central bank’s reserves amounted to $11,710.5 million, while commercial banks held net foreign reserves of $4,698.2 million. The SBP’s reserves saw a … Read more
KARACHI: The State Bank of Pakistan (SBP) injected Rs1,202.65 billion into the market on Wednesday through Reverse Repo Purchase and Shariah-compliant Mudarabah-based Open Market Operations (OMO). The SBP, following the Monetary Policy rate cut to 13%, conducted Open Market Operation, Reverse Repo Purchase (Injection) on December 18, 2024 for 2-day tenor and, as per results … Read more
KARACHI: The State Bank of Pakistan (SBP) announced a significant reduction in its policy rate, cutting it by 200 basis points to 13% during its monetary policy meeting on Monday. The new rate will take effect on December 17, 2024. “At its meeting today, the Monetary Policy Committee (MPC) decided to cut the policy rate … Read more
KARACHI: The US dollar rate in Pakistan further increased by Re0.7 (7 paisa) against Pakistani rupee to Rs277.68 in the interbank market on Monday (Oct 21) as per the State Bank of Pakistan (SBP). However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market … Read more
Car financing in Pakistan slightly increased in September 2024. Automobile financing in Pakistan rose slightly to Rs227.54 billion in September 2024. This uptick breaks a 26-month streak of continuous decline in car financing. ISLAMABAD: Car financing in Pakistan experienced a slight rise in September 2024, increasing to Rs227.54 billion, a 0.11 per cent jump from … Read more
KARACHI: The US dollar rate in Pakistan further decreased by Re0.5 (05 paisa) against Pakistani rupee to Rs277.63 in the interbank market on Wednesday (Oct 2) as per the State Bank of Pakistan (SBP). However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market … Read more
KARACHI – Banks in Pakistan will be closed on Tuesday, September 17, 2024, as the State Bank of Pakistan (SBP) announced a holiday to observe Eid Milad-un-Nabi (SAW). This occasion celebrates the birth of Prophet Muhammad (PBUH). The SBP stated that financial services will be impacted nationwide, with normal banking operations resuming on Wednesday, September … Read more
The State Bank of Pakistan (SBP) has declared a bank holiday on Monday, July 1, 2024. According to a press release issued on Friday, all SBP offices, public and private sector banks, DFIs, and MFBs will be closed for public transactions on this day. However, bank employees are expected to be present at work as … Read more
The State Bank of Pakistan declares July 1, 2024, a bank holiday. All banks, DFIs, and MFBs will be closed for public dealings. The holiday marks the beginning of the fiscal year 2024–25 KARACHI – The State Bank of Pakistan (SBP) has declared July 1, 2024, as a bank holiday to mark the first day … Read more
Remittances from overseas Pakistanis rose by 54% year-on-year to $3.2 billion in May 2024. This marks the highest-ever monthly remittance inflow. On a month-on-month basis, remittances rose by 15% from $2.8 billion in April 202. Remittances from overseas Pakistanis rose by 54% year-on-year to $3.2 billion in May 2024, up from $2.1 billion in the … Read more
Federal Finance Minister Muhammad Aurangzeb announced at a special session of the World Economic Forum (WEF) in Saudi Arabia that the government is considering the introduction of digital currency in Pakistan. This move aims to modernize the country’s financial infrastructure and address challenges related to financial inclusivity. Minister Aurangzeb highlighted Pakistan’s interest in embracing digital … Read more
State Bank of Pakistan won’t issue new currency for Eid, surprising the public. Central bank’s decision breaks Eid currency tradition, disappoints many. Private banks follow State Bank’s policy, leading to emergence of currency mafia. The State Bank of Pakistan has decided not to follow its usual practice of issuing new currency notes during Eid al-Fitr, … Read more
SBP denies rumors of introducing plastic banknotes, calling them unfounded. Reports suggest a switch to polymer notes, but SBP clarifies no such plans are under review. SBP uses locally sourced cotton-based paper for banknotes, supporting domestic industries. Recently, the State Bank of Pakistan (SBP) rejected rumors about introducing plastic banknotes, labeling them as unfounded and … Read more
