KARACHI – The State Bank of Pakistan (SBP) has released the foreign exchange rates for October 24, 2022, providing a snapshot of the value of the Pakistani Rupee (PKR) against major international currencies.
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Foreign direct investment in Pakistan plunges by 47% in 1QFY23
Foreign Direct Investment (FDI) into Pakistan has plunged by 47 per cent during first quarter (July – September) 2022/2023, according to data released by State Bank of Pakistan (SBP).
The central bank said that the FDI fell to $253 million during the first quarter of the current fiscal year as compared with $479 million in the corresponding quarter of the last fiscal year.
READ MORE: FATF removes Pakistan from grey list
The inflows under the FDI recorded 31.7 per cent decline to $395 million during the quarter under review as compared with $579 million in the same quarter of the last year.
On the other hand, the outflow under the FDI significantly increased by 42.5 per cent to $142 million during July – September 2022/2023 as compared with $99.6 million in the same period of the last fiscal year.
READ MORE: Asian Bank approves $1.5 billion to finance Pakistan
The total foreign private investment into the country fell by 36.3 per cent to $241.3 million during the quarter under review when compared with $379 million in the corresponding quarter of the last fiscal year.
The portfolio investment in the capital market registered massive decline in outflow during the quarter under review. The outflow of portfolio investment recorded $12.1 million during the first quarter of the current fiscal year as compared with the outflow of $100.5 million in the same quarter of the last year.
READ MORE: Pakistan’s weekly forex reserves increase nominally
The foreign public investment under the head of debt securities recorded an outflow of $18.2 million during the first quarter of the fiscal year 2022/2023 as compare with inflow of $980 million in the same quarter of the last fiscal year.
The total foreign investment including private and public recorded a decline of 83.6 per cent to $223 million during the first quarter of the current fiscal year as compared with $1.36 billion in the same quarter of the last fiscal year.
READ MORE: Current account deficit declines by 37% to $2.21 billion in first quarter
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Karachi Interbank Offered Rates KIBOR – October 21, 2022
KARACHI: State Bank of Pakistan (SBP) on Friday issued the Karachi Interbank Offered Rates (KIBOR) as on October 21, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.96 15.46 2 – Week 15.01 15.51 1 – Month 15.09 15.59 3 – Month 15.53 15.78 6 – Month 15.58 15.83 9 – Month 15.59 16.09 1 – Year 15.60 16.10 READ MORE: Karachi Interbank Offered Rates KIBOR – October 20, 2022
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State Bank’s foreign exchange rates – October 21, 2022
KARACHI – The State Bank of Pakistan (SBP) has disclosed the foreign exchange rates for October 21, 2022, providing crucial information on the value of the Pakistani Rupee (PKR) against major international currencies.
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Pakistan’s weekly forex reserves increase nominally
Pakistan’s weekly foreign exchange reserves increased nominally to $13.251 billion by week ended October 14, 2022, State Bank of Pakistan (SBP) said on Thursday.
The country’s foreign exchange reserves were at $13.247 billion by a week ago i.e. October 7, 2022.
READ MORE: Pakistan’s forex reserves continue to fall; deplete to $13.25 billion
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 $13.977 billion.
The foreign exchange reserves of the SBP also remained unchanged at $7.597 billion by week ended October 14, 2022 as compared the level a week ago.
READ MORE: Pakistan’s forex reserves decline to $13.59 billion
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 $12.549 billion.
Experts said that falling foreign exchange reserves would reverse the recent gain in value of the Pakistani Rupee (PKR). The PKR make a 13-session winning streak. The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 220.95 on October 20, 2022. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.
READ MORE: State Bank’s forex reserves shrink to $8 billion
Earlier, SBP received US$ 1,166 million from IMF under EFF program, which increased the official reserves to $8.8 billion.
The foreign exchange reserves held by commercial banks increased marginally to $5.654 billion by week ended October 14, 2022 as compared with $5.65 billion a week ago.
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Karachi Interbank Offered Rates KIBOR – October 20, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on October 20, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.98 15.48 2 – Week 15.01 15.51 1 – Month 15.08 15.58 3 – Month 15.51 15.76 6 – Month 15.55 15.80 9 – Month 15.58 16.08 1 – Year 15.60 16.10 READ MORE: Karachi Interbank Offered Rates KIBOR – October 19, 2022
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State Bank’s foreign exchange rates – October 20, 2022
KARACHI – The State Bank of Pakistan (SBP) has provided an update on foreign exchange rates for October 20, 2022, shedding light on the value of the Pakistani Rupee (PKR) against major international currencies.
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Current account deficit declines by 37% to $2.21 billion in first quarter
KARACHI: Pakistan’s current account deficit has recorded a decline of 37 per cent to $2.21 billion during first quarter (July – September) of fiscal year 2022/2023, according to official data released on Wednesday.
The current account deficit of the country was $3.53 billion in the same quarter of the last fiscal year.
READ MORE: Pakistan current account deficit narrows by 19% in July – August
State Bank of Pakistan (SBP) on Wednesday issued the summary of balance of payments for the first quarter of the current fiscal year.
Contraction in current account deficit can be attributed to significant fall in trade deficit. The trade deficit also contracted by 21.32 per cent to $9.22 billion during first quarter of the current fiscal year as compared with the deficit of $11.72 billion in the same quarter of the last fiscal year.
READ MORE: Pakistan current account deficit widens by 42% in July 2022
Import bill of the country for the quarter under review sharply declined by 12.37 per cent to $16.4 billion as compared with $18.71 billion in the corresponding quarter of the last fiscal year.
On the other hand, exports of the country recorded an increase of 2.62 per cent to $7.18 billion during July – September of the current fiscal year as compared with $6.99 billion in the same period of the last fiscal year.
READ MORE: Pakistan’s FY22 current account deficit widens to $17.41 bn
However, inflow of home remittances slipped by 6.34 per cent to $7.68 billion during first quarter of the current fiscal year 2022-2023. The inflow of remittances was $8.2 billion in the corresponding quarter of the last year.
The balance of payment posted a deficit of $316 million in the month of September 2022 which was much lower to the deficit of $1.15 billion in the same month of the last year. The deficit is also lower when compared with the deficit of $676 million in the month of August 2022.
READ MORE: Pakistan’s CAD balloons to $15.19 billion in 11 months
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Karachi Interbank Offered Rates KIBOR – October 19, 2022
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as on October 19, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.99 15.49 2 – Week 15.03 15.53 1 – Month 15.09 15.59 3 – Month 15.47 15.72 6 – Month 15.54 15.79 9 – Month 15.56 16.06 1 – Year 15.61 16.11 READ MORE: Karachi Interbank Offered Rates KIBOR – October 18, 2022
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State Bank’s foreign exchange rates – October 19, 2022
KARACHI – The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for October 19, 2022, providing a snapshot of the value of the Pakistani Rupee (PKR) against major international currencies.
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