KARACHI, November 07, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for November 07, 2022.
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Karachi Interbank Offered Rates KIBOR – November 03, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on November 03, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.95 15.45 2 – Week 14.99 15.49 1 – Month 15.08 15.58 3 – Month 15.52 15.77 6 – Month 15.60 15.85 9 – Month 15.62 16.12 1 – Year 15.64 16.14 READ MORE: Karachi Interbank Offered Rates KIBOR – November 03, 2022
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State Bank issues foreign exchange rates on November 04, 2022
KARACHI, November 04, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for November 04, 2022.
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Pakistan FX reserves rise to $14.69 billion after ADB transfer
KARACHI: Pakistan foreign exchange reserves have increased by $1.527 billion to $14.69 billion by week ended October 28, 2022 after transfer of funds from Asian Development Bank (ADB).
The country’s foreign exchange reserves increased to $14.689 billion by week ended October 28, 2022 as compared with $13.162 billion a week ago i.e. October 21, 2022, State Bank of Pakistan (SBP) said on Thursday.
READ MORE: SBP’s weekly forex reserves dip by $157 million to $7.44 billion
The ADB released the fund amounting $1.5 billion to Pakistan on October 26, 2022.
The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $12.539 billion.
The official foreign exchange reserves of the State Bank also increased by $1.473 billion to $8.913 billion by week ended October 28, 2022 when compared with $7.44 billion a week ago.
READ MORE: Pakistan’s weekly forex reserves increase nominally
The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP dropped by $11.233 billion.
READ MORE: Pakistan’s forex reserves continue to fall; deplete to $13.25 billion
Previously, the central bank received $1.16 billion from the International Monetary Fund (IMF) under Extended Fund Facility (EFF) program, which increased the official reserves to $8.8 billion. But scheduled repayment gradually depleted the official reserves of the central bank.
READ MORE: Pakistan’s forex reserves decline to $13.59 billion
The foreign exchange held by commercial banks witnessed an increase of $44 million to $5.766 billion by week ended October 28, 2022 as against $5.722 billion a week ago.
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Karachi Interbank Offered Rates KIBOR – November 03, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on November 03, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.94 15.44 2 – Week 15.00 15.50 1 – Month 15.08 15.58 3 – Month 15.52 15.77 6 – Month 15.59 15.84 9 – Month 15.60 16.10 1 – Year 15.62 16.11 READ MORE: Karachi Interbank Offered Rates KIBOR – November 02, 2022
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State Bank issues foreign exchange rates on November 03, 2022
KARACHI, November 03, 2022 – The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for November 03, 2022.
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Pakistan, China sign agreement for RMB clearance
KARACHI: The central banks of Pakistan and China have signed an agreement for establishing RMB (Chinese currency) clearing arrangement.
State Bank of Pakistan (SBP) and Peoples Bank of China (PBoC) have signed an MOU on establishing RMB (Chinese currency) clearing arrangements in Pakistan, according to a statement issued on Wednesday.
The MOU was signed by Governor SBP Jameel Ahmad and Governor PBoC Yi Gang.
The establishment of the RMB clearing arrangement in Pakistan will further boost usage of RMB for cross-border transactions among Chinese and Pakistani enterprises and financial institutions.
This will also promote bilateral trade and investment between the two countries.
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Karachi Interbank Offered Rates KIBOR – November 02, 2022
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as on November 02, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.94 15.44 2 – Week 15.00 15.50 1 – Month 15.08 15.58 3 – Month 15.52 15.77 6 – Month 15.59 15.84 9 – Month 15.62 16.12 1 – Year 15.65 16.15 READ MORE: Karachi Interbank Offered Rates KIBOR – November 01, 2022
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Final chance to encash bearer prize bonds: SBP
KARACHI: The final chance has been given to public to exchange or encash bearer prize bonds with various denominations by June 30, 2023.
The State Bank of Pakistan (SBP) in a statement on Wednesday said that the federal government had given another opportunity to the public to get the withdrawn prize bonds of Rs.7500, 15,000, 25,000 and Rs. 40,000 redeemed/encashed by June 30, 2023.
READ MORE: Pakistan-issued prize bonds expire on June 30, 2022
Earlier, the government had fixed deadline of June 30, 2022, for redemption/encashment of these prize bonds, however, considering that some of the prize bond holders could not get their bonds redeemed a final opportunity has been given for encashment of prize bonds till June 30, 2023.
READ MORE: SBP directs banks to accept bearer prize bonds
The investors of aforesaid prize bonds have following options of encashment or exchange: Encashment at Face Value; Conversion to Premium Prize Bonds of Rs. 25,000 and/or Rs. 40,000 (Registered); Replacement with Special Savings Certificates (SSC) or Defense Savings Certificates (DSC).
READ MORE: Prize bond (bearer) holders given 3 months to document
The prize bonds can be redeemed from SBP Banking Services Corporation office and branches of commercial banks across the country till 30th June 2023. The SBP has issued necessary instructions to commercial banks to accept requests from general public for encashment or exchange of the prize bonds till the extended date.
READ MORE: History of Prize Bonds in Pakistan
The members of general public holding these are encouraged to avail this final opportunity and get their prize bonds redeemed before June 30, 2023. These prize bonds shall not be en-cashable or exchangeable after the expiry of the extended deadline, thereby rendering them worthless.
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State Bank issues foreign exchange rates on November 02, 2022
KARACHI, November 02, 2022 – The State Bank of Pakistan (SBP) has released the foreign exchange rates for November 02, 2022.
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