The State Bank of Pakistan (SBP) has raised its benchmark policy rate by a significant 1400 basis points to 21 per cent over the past 18 months to address the economic challenges being faced by the country.
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Pakistan’s banking sector exposed to sovereign borrowing
Pakistan’s banking sector is facing growing risks due to its increasing exposure to the government, according to a report issued by the World Bank.
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SBP extends implementation date for IFRS 9 for larger banks and DFIs
The State Bank of Pakistan (SBP) has extended the effective implementation date of the International Financial Reporting Standards (IFRS) 9 for banks and development finance institutions (DFIs).
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Pakistan’s foreign exchange reserves decline to $9.565 billion due to external repayment
Pakistan’s foreign exchange reserves have declined by $195 million to $9.565 billion due to repayment of foreign debt, State Bank said on Thursday.
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SBP issues Rs50 commemorative coin to mark golden jubilee of Constitution
State Bank of Pakistan (SBP) on Thursday announced to issue Rs50 commemorative coin to mark Golden Jubilee of the Constitutions 1973.
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SBP’s weighted average customer exchange rates on April 13, 2023
KARACHI: The State Bank of Pakistan (SBP) on Thursday issued foreign exchange rates for April 13, 2023.
READ MORE: Today foreign currency rates in PKR – April 13, 2023
The exchange rate is on the basis of weighted average rates of commercial banks.
Following are the buying and selling of foreign currencies in Pakistan Rupee (PKR):
CURRENCY BUYING SELLING UAE Dirham (AED) 77.5525 77.6629 Australian Dollar (AUD) 190.8969 191.2033 Canadian Dollar (CAD) 212.0317 212.3333 Swiss Franc (CHF) 317.3986 317.8582 Chinese Yuan (CNY) 41.4283 41.4809 Euro (EUR) 312.7853 313.2355 UK Pound (GBP) 355.4868 356.0064 Japanese Yen (JPY) 2.1361 2.1391 Saudi Riyal (SAR) 75.8590 75.9702 US Dollar (USD) 284.6199 285.0360 READ MORE: SBP’s weighted average customer exchange rates on April 12, 2023
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Public awaits SBP’s decision on issuing fresh currency notes for Eid-ul-Fitr
KARACHI: As the end of Ramazan approaches, Pakistanis are eagerly anticipating the celebration of Eid-ul-Fitr, which involves the tradition of giving money as a gift to loved ones, especially children.
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Karachi Interbank Offered Rates KIBOR – April 12, 2023
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as on April 12, 2023.
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SBP’s weighted average customer exchange rates on April 12, 2023
KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued foreign exchange rates for April 12, 2023.
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SBP revises instructions regarding retention of export proceeds
State Bank of Pakistan (SBP) on April 11, 2023 revised the instructions regarding retention period of export proceeds with authorized dealers upon realization.
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