Money and banking drive economic activity by facilitating transactions, savings, and investments. Banks manage financial resources, offer credit, and regulate money supply, ensuring stability and growth in Pakistan’s financial sector.
KARACHI: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on September 27, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.22 | 7.72 |
| 2 – Week | 7.26 | 7.76 |
| 1 – Month | 7.31 | 7.81 |
| 3 – Month | 7.53 | 7.78 |
| 6 – Month | 7.89 | 8.14 |
| 9 – Month | 8.14 | 8.64 |
| 1 – Year | 8.35 | 8.85 |
KARACHI: The Pak Rupee (PKR) fell to a historic low at Rs169.60 to the dollar on Monday despite measures of State Bank of Pakistan (SBP) to support the balance of payment.
The rupee ended Rs169.60 to the dollar from last Friday’s closing of Rs169.08 in the interbank foreign exchange market.
Currency experts said that the rupee was under pressure from the start of the trading as the market was opened after two weekly holidays.
They said that rising international oil prices also putting pressure on demand for foreign currency.
Previously, the local currency recorded an all-time low of Rs169.12 on September 15, 2021.
Last week the State Bank of Pakistan (SBP took measures to discourage import payments for imported vehicles. The central bank put restrictions on bank financing for imported cars.
Karachi, September 27, 2021 – The State Bank of Pakistan (SBP) has released the official exchange rates for customers on Monday, September 27, 2021.
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KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 27, 2021 (The rates are updated at 11:12AM):
| Currency | Buying | Selling |
| Australian Dollar | 122.00 | 124.00 |
| Bahrain Dinar | 386.60 | 388.36 |
| Canadian Dollar | 135.00 | 137.00 |
| China Yuan | 23.70 | 23.85 |
| Danish Krone | 23.40 | 23.70 |
| Euro | 199.00 | 200.50 |
| Hong Kong Dollar | 16.60 | 16.85 |
| Indian Rupee | 2.03 | 2.10 |
| Japanese Yen | 1.41 | 1.44 |
| Kuwaiti Dinar | 481.50 | 484.00 |
| Malaysian Ringgit | 36.40 | 36.75 |
| NewZealand $ | 96.25 | 96.95 |
| Norwegians Krone | 17.45 | 17.70 |
| Omani Riyal | 392.50 | 394.50 |
| Qatari Riyal | 39.70 | 40.30 |
| Saudi Riyal | 45.50 | 46.00 |
| Singapore Dollar | 123.50 | 125.00 |
| Swedish Korona | 18.10 | 18.35 |
| Swiss Franc | 159.60 | 160.50 |
| Thai Bhat | 4.80 | 4.90 |
| U.A.E Dirham | 47.20 | 47.70 |
| UK Pound Sterling | 234.00 | 236.50 |
| US Dollar | 170.60 | 171.60 |
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
Bearer prize bonds of major denominations including Rs40,000/-, Rs25,000/- and Rs15,000/- will become worthless after September 30, 2021 if no date extension announcement comes from the government.
The last date for encashment or exchanging the bearer prize bonds with denominations of Rs40,000/-, Rs25,000/- and Rs15,000 is September 30, 2021, which was already extended from May 31, 2021.
In order to comply with the Financial Action Task Force (FATF) for the prevention of money laundering and terror financing, the government had decided to document the financial instruments by the withdrawal of bearer prize bonds.
So far the government has decided to withdraw prize bonds of four denominations including Rs40,000/-, Rs25,000/-, Rs15,000 and Rs7,500. However, the last date for exchanging Rs7,500 denomination bearer prize bonds is December 31, 2021.
The government started withdrawal of bearer prize bonds with Rs40,000 denomination on June 24, 2019. Later, on December 10, 2020, the government announced to discontinue the circulation of Rs25,000 denomination prize bonds. In April 2021, the finance ministry announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold.
It is likely the finance ministry extend the date for encashment / exchanging the bearer prize bonds beyond September 30, 2021. However, the decision in this regard has not been taken so far.
The finance ministry has issued the following procedure for encashment/exchanging the bearer prize bonds.
01. Conversion to Premium Prize Bonds (Registered): The bonds can be converted to premium prize bonds (registered) of denomination of Rs25,000/- and Rs40,000/- (subject to the adjustment of differential amount) through 16 field offices of State Bank of Pakistan (SBP)’s Banking Services Corporation, and branches of six commercial banks i.e. National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited and Bank Alfalah Limited.
02. Replacement with Special Saving Certificates (SSC) / Defence Saving Certificates (DSC): The bonds can be replaced with SSC/DSC through the 16 field offices of SBP Banking Services Corporation, authorized commercial banks and National Savings Centers.
03. Encashment at Face Value: The bonds will only be encashed by transferring the proceeds to the bond holder’s bank account through the 16 field offices of SBP Banking Services Corporation as well as the authorized commercial bank branches and to the Saving Accounts at National Saving Centers.
KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 25, 2021 (The rates are updated at 11:06AM):
| Currency | Buying | Selling |
| Australian Dollar | 122.50 | 124.50 |
| Bahrain Dinar | 386.60 | 388.36 |
| Canadian Dollar | 134.50 | 136.50 |
| China Yuan | 23.70 | 23.85 |
| Danish Krone | 23.40 | 23.70 |
| Euro | 199.50 | 201.00 |
| Hong Kong Dollar | 16.60 | 16.85 |
| Indian Rupee | 2.03 | 2.10 |
| Japanese Yen | 1.41 | 1.44 |
| Kuwaiti Dinar | 481.50 | 484.00 |
| Malaysian Ringgit | 36.40 | 36.75 |
| NewZealand $ | 96.25 | 96.95 |
| Norwegians Krone | 17.45 | 17.70 |
| Omani Riyal | 392.50 | 394.50 |
| Qatari Riyal | 39.70 | 40.30 |
| Saudi Riyal | 45.50 | 46.00 |
| Singapore Dollar | 124.00 | 125.50 |
| Swedish Korona | 18.10 | 18.35 |
| Swiss Franc | 159.60 | 160.50 |
| Thai Bhat | 4.80 | 4.90 |
| U.A.E Dirham | 47.00 | 47.50 |
| UK Pound Sterling | 233.00 | 235.50 |
| US Dollar | 170.40 | 171.40 |
Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.
KARACHI: State Bank of Pakistan (SBP) on Friday issued the following Karachi Interbank Offered Rates (KIBOR) on September 24, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.19 | 7.69 |
| 2 – Week | 7.24 | 7.74 |
| 1 – Month | 7.30 | 7.80 |
| 3 – Month | 7.51 | 7.76 |
| 6 – Month | 7.88 | 8.13 |
| 9 – Month | 8.10 | 8.60 |
| 1 – Year | 8.27 | 8.77 |
KARACHI: The Pak Rupee (PKR) continued its slide against the dollar on Friday in the interbank foreign exchange market.
The rupee fell by five paisas to close at Rs169.08 to the dollar from the previous day’s closing of Rs168.03 in the interbank foreign exchange market.
The rupee depreciated despite the initiatives taken by the State Bank of Pakistan (SBP) to support the balance of payment.
The SBP a day earlier issued revised Prudential Regulations (PRS) for Consumer Financing. The targeted step will help to moderate demand growth in the economy, leading to slower import growth and thus supporting the balance-of-payments, the SBP said.
The changes in the regulations effectively prohibit financing for imported vehicles, and tighten regulatory requirements for financing of domestically manufactured/ assembled vehicles of more than 1000 cc engine capacity and other Consumer Finance facilities like personal loans and credit cards, the SBP added.
The local currency is near to make another historic low. The rupee hit all-time low of Rs169.12 on September 15, 2021.
Karachi, September 24, 2021 – The State Bank of Pakistan (SBP) has released the exchange rates for customers on Friday, September 24, 2021.
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The State Bank of Pakistan (SBP) on Friday said that the decision had been made by the Board members of the corporation in their meeting held on September 06, 2021.
This enhanced guarantee amount now provides full protection up to 95 per cent of the eligible depositors.
The main objective of the deposit protection scheme is to safeguard depositors’ interests and further enhance their trust in the country’s banking sector.
The deposit protection facility is applicable to all eligible depositors and does not require any further subscription or registration of depositors.
The guarantee amount or protected deposit becomes payable to eligible depositors only if the State Bank of Pakistan declares a bank as a failed bank and is not payable under any other circumstances.