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in a statement on Wednesday said that the federal government had given another opportunity to the public to get the withdrawn prize bonds of Rs.7500, 15,000, 25,000 and Rs. 40,000 redeemed/encashed by June 30, 2023.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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Karachi Interbank Offered Rates KIBOR – November 01, 2022
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as on November 01, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.97 15.47 2 – Week 15.01 15.51 1 – Month 15.07 15.57 3 – Month 15.52 15.77 6 – Month 15.60 15.85 9 – Month 15.61 16.11 1 – Year 15.63 16.13 READ MORE: Karachi Interbank Offered Rates KIBOR – October 31, 2022
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State Bank issues foreign exchange rates on November 01, 2022
KARACHI, November 01, 2022 – The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for November 01, 2022.
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Karachi Interbank Offered Rates KIBOR – October 31, 2022
KARACHI: State Bank of Pakistan (SBP) on Monday issued the Karachi Interbank Offered Rates (KIBOR) as on October 31, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.94 15.44 2 – Week 14.99 15.49 1 – Month 15.06 15.56 3 – Month 15.51 15.76 6 – Month 15.59 15.84 9 – Month 15.61 16.11 1 – Year 15.63 16.13 READ MORE: Karachi Interbank Offered Rates KIBOR – October 28, 2022
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State Bank issues foreign exchange rates on October 31, 2022
KARACHI – In a routine update, the State Bank of Pakistan (SBP) released the foreign exchange rates for October 31, 2022. The rates are determined based on the weighted average rates of commercial banks operating in the country.
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Dar advises forex companies to ensure appropriate exchange rate
ISLAMABAD: Finance Minister Ishaq Dar has advised foreign exchange companies to ensure appropriate exchange rate for the betterment of the country.
Federal Minister Senator Mohammad Ishaq Dar held a meeting with heads of all the major Forex Exchange Companies of Pakistan at state Bank of Pakistan (SBP).
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Senior Advisor to Prime Minister (SAPM) on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Governor SBP Jameel Ahmad and senior officers from Finance Division and State Bank of Pakistan attended the meeting.
The Finance Minister highlighting the economic situation of the country stated that the present government with its pragmatic policy decisions has not only arrested the decline but has also set the economy in the right direction.
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Finance Minister also shared the priorities of the present government and expressed resolve of the Government to ensure stable economic and fiscal policies and requested the forex companies to ensure appropriate exchange rate for the betterment of the country.
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The leading Exchange companies of Pakistan showed complete trust in Government’s fiscal and monetary policies and committed to the Finance Minister their full support to ensure economic and financial strengthening of Pakistan.
READ MORE: SBP imposes over Rs290 million as penalty on six commercial banks