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  • SBP issues KIBOR rates – May 20, 2022

    SBP issues KIBOR rates – May 20, 2022

    KARACHI: State Bank of Pakistan (SBP) on Friday issued the Karachi Interbank Offered Rates (KIBOR) as on May 20, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week12.3012.80
    2 – Week12.5313.03
    1 – Month13.0113.51
    3 – Month14.4114.66
    6 – Month14.6214..87
    9 – Month14.6115.11
    1 – Year14.6115.11
    SBP issues KIBOR rates – May 19, 2022
  • SBP’s customer exchange rates – May 20, 2022

    SBP’s customer exchange rates – May 20, 2022

    KARACHI, May 20, 2022 – The State Bank of Pakistan (SBP) has issued the official exchange rates for customers on Friday, May 20, 2022. These rates are based on the weighted average rates provided by commercial banks and are meant for informational purposes only, according to an official statement by the SBP.

    The data released by the SBP reflects the exchange rates quoted by various commercial banks to their clients. These rates are indicative and are primarily used for commercial transactions between the banks and their customers. It’s important to note that these rates are estimates and may vary slightly depending on the bank and specific transaction details.

    Here are the buying and selling rates for major foreign currencies in Pakistan Rupees (PKR) as of May 20, 2022:

    • AED (United Arab Emirates Dirham):

    • Buying: PKR 54.5670

    • Selling: PKR 54.6781

    • AUD (Australian Dollar):

    • Buying: PKR 140.9844

    • Selling: PKR 141.2662

    • CAD (Canadian Dollar):

    • Buying: PKR 156.4368

    • Selling: PKR 156.7461

    • CHF (Swiss Franc):

    • Buying: PKR 206.3113

    • Selling: PKR 206.7338

    • CNY (Chinese Yuan):

    • Buying: PKR 29.9190

    • Selling: PKR 29.9825

    • EUR (Euro):

    • Buying: PKR 211.9919

    • Selling: PKR 212.4373

    • GBP (British Pound):

    • Buying: PKR 249.8244

    • Selling: PKR 250.3392

    • JPY (Japanese Yen):

    • Buying: PKR 1.5675

    • Selling: PKR 1.5706

    • SAR (Saudi Riyal):

    • Buying: PKR 53.4045

    • Selling: PKR 53.5099

    • USD (United States Dollar):

    • Buying: PKR 200.2885

    • Selling: PKR 200.7113

    The exchange rates provided by the SBP serve as a benchmark for commercial transactions involving foreign currencies in Pakistan. Individuals and businesses engaging in international trade and finance often refer to these rates for their transactions.

    It’s worth emphasizing that exchange rates are subject to market fluctuations and may change throughout the day. Customers are advised to check with their respective banks for the most up-to-date rates before conducting any foreign currency transactions.

    The SBP continues to play a crucial role in maintaining stability and transparency in the foreign exchange market, ensuring a fair and efficient system for businesses and individuals engaged in cross-border transactions.

  • SBP issues KIBOR rates – May 19, 2022

    SBP issues KIBOR rates – May 19, 2022

    KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on May 19, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week12.2512.75
    2 – Week12.4412.94
    1 – Month12.9513.45
    3 – Month14.4014.65
    6 – Month14.5914.84
    9 – Month14.6115.11
    1 – Year14.6115.11
    SBP issues KIBOR rates – May 18, 2022
  • SBP’s customer exchange rates – May 19, 2022

    SBP’s customer exchange rates – May 19, 2022

    KARACHI, May 19, 2022 – The State Bank of Pakistan (SBP) has issued the official exchange rates for customers on Thursday, May 19, 2022. These rates are derived from the weighted average rates provided by commercial banks and are disseminated for informational purposes only, according to an official statement by the SBP.

    The SBP clarified that the data comprises estimates quoted by various commercial banks to their clients and serves as indicative exchange rates for commercial transactions between banks and customers.

    Here are the buying and selling rates for major foreign currencies in Pakistan Rupees (PKR) as of May 19, 2022:

    • AED (United Arab Emirates Dirham):

    • Buying: PKR 54.4576

    • Selling: PKR 54.5687

    • AUD (Australian Dollar):

    • Buying: PKR 139.7821

    • Selling: PKR 140.0658

    • CAD (Canadian Dollar):

    • Buying: PKR 155.6900

    • Selling: PKR 156.0064

    • CHF (Swiss Franc):

    • Buying: PKR 202.7083

    • Selling: PKR 203.1243

    • CNY (Chinese Yuan):

    • Buying: PKR 29.5715

    • Selling: PKR 29.6283

    • EUR (Euro):

    • Buying: PKR 209.6843

    • Selling: PKR 210.1268

    • GBP (British Pound):

    • Buying: PKR 247.2174

    • Selling: PKR 247.7245

    • JPY (Japanese Yen):

    • Buying: PKR 1.5534

    • Selling: PKR 1.5566

    • SAR (Saudi Riyal):

    • Buying: PKR 53.2962

    • Selling: PKR 53.4028

    • USD (United States Dollar):

    • Buying: PKR 199.8849

    • Selling: PKR 200.3077

    The exchange rates provided by the SBP are crucial for businesses and individuals involved in international trade and finance, serving as a reference point for commercial transactions involving foreign currencies in Pakistan.

    Given the dynamic nature of foreign exchange markets, customers are advised to stay updated with their respective banks for real-time rates before initiating any foreign currency transactions. The SBP continues to uphold its role in promoting transparency and stability in the foreign exchange market, ensuring a fair and efficient system for the benefit of businesses and individuals engaged in cross-border transactions.

  • SBP issues KIBOR rates – May 18, 2022

    SBP issues KIBOR rates – May 18, 2022

    KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as on May 18, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week12.2712.77
    2 – Week12.4412.94
    1 – Month13.0013.50
    3 – Month14.9015.15
    6 – Month14.9315.18
    9 – Month14.7315.23
    1 – Year14.7315.23
    SBP issues KIBOR rates – May 17, 2022
  • SBP’s customer exchange rates – May 18, 2022

    SBP’s customer exchange rates – May 18, 2022

    KARACHI, May 18, 2022 – The State Bank of Pakistan (SBP) has released the official exchange rates for customers on Wednesday, May 18, 2022. These rates are determined based on the weighted average rates provided by commercial banks and are intended for informational purposes only, according to a statement by the SBP.

    The SBP emphasized that the data represents estimates quoted by various commercial banks to their clients and serves as indicative exchange rates for commercial transactions between banks and customers.

    Here are the buying and selling rates for major foreign currencies in Pakistan Rupees (PKR) as of May 18, 2022:

    • AED (United Arab Emirates Dirham):

    • Buying: PKR 53.8366

    • Selling: PKR 53.9476

    • AUD (Australian Dollar):

    • Buying: PKR 138.7710

    • Selling: PKR 139.0561

    • CAD (Canadian Dollar):

    • Buying: PKR 154.1413

    • Selling: PKR 154.4514

    • CHF (Swiss Franc):

    • Buying: PKR 198.6984

    • Selling: PKR 199.1107

    • CNY (Chinese Yuan):

    • Buying: PKR 29.3061

    • Selling: PKR 29.3639

    • EUR (Euro):

    • Buying: PKR 208.1495

    • Selling: PKR 208.5950

    • GBP (British Pound):

    • Buying: PKR 246.3695

    • Selling: PKR 246.8907

    • JPY (Japanese Yen):

    • Buying: PKR 1.5302

    • Selling: PKR 1.5334

    • SAR (Saudi Riyal):

    • Buying: PKR 52.6897

    • Selling: PKR 52.7969

    • USD (United States Dollar):

    • Buying: PKR 197.6082

    • Selling: PKR 198.0310

    Exchange rates play a pivotal role in international trade and finance, and the rates provided by the SBP serve as benchmarks for businesses and individuals involved in foreign currency transactions in Pakistan.

    As foreign exchange markets are subject to constant fluctuations, customers are advised to stay informed with their respective banks for real-time rates before engaging in any foreign currency transactions. The SBP remains committed to ensuring transparency and stability in the foreign exchange market, fostering a fair and efficient system for businesses and individuals participating in cross-border transactions.

  • SBP’s customer exchange rates – May 17, 2022

    SBP’s customer exchange rates – May 17, 2022

    KARACHI, May 17, 2022 – The State Bank of Pakistan (SBP) has issued the official exchange rates for customers on Tuesday, May 17, 2022.

    (more…)
  • SBP issues KIBOR rates – May 17, 2022

    SBP issues KIBOR rates – May 17, 2022

    KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as of May 17, 2022, providing crucial insight into the prevailing interbank borrowing costs within the financial sector. KIBOR serves as a benchmark for a variety of financial products and transactions, influencing everything from corporate lending to personal loans.

    (more…)
  • SBP may raise policy rate by 100bps to 13.25%

    SBP may raise policy rate by 100bps to 13.25%

    KARACHI: The State Bank of Pakistan (SBP) is scheduled to announce monetary policy on May 23, 2022 and may increase the key policy rate by 100 basis points to 13.25 per cent, analysts said on Tuesday.

    According to the analysts at Arif Habib Limited, the monetary policy committee of SBP will convene on Monday (May 23rd, 2022) to announce the last scheduled monetary policy of 2021/2022.

    READ MORE: SBP increases policy rate sharply by 250bps to 12.25%

    They expect the central bank may increase the policy rate by 100 basis points to 13.25 per cent in the upcoming monetary policy statement.

    To recall, in an emergency monetary policy meeting held on April 07, 2022, the SBP increased the benchmark policy rate by 250 basis points to 12.25 per cent.

    The MPC stated that it believed that since the monetary policy meeting held in March 2022, the outlook for inflation had deteriorated and risks to external stability had risen.

    Therefore, these developments necessitated a strong and proactive policy response.

    READ MORE: Policy rate may rise as T-Bill yields increase sharply

    To recall, headline inflation has remained in the double digits since November 2021 mainly on the back of uptick in food and energy prices.

    This phenomenon still continues with headline number hitting almost two years high in April, clocking-in at 13.4 per cent with pressure mainly emanating from higher food and commodity prices.

    In April’s MPS, SBP stated that the average inflation forecasts had been revised upwards to slightly above 11 per cent for fiscal year 2021/2022 before moderating in the next fiscal year.

    Moreover, in the last policy (April 2022), SBP had termed its action of rate hike as ‘decisive’ and a timely measure to ensure that the goal of financial stability.

    READ MORE: State Bank enhances frequency of MP reviews to eight

    In addition, the Governor in post MPS (Analyst) Briefing had hinted at a ‘good news’ regarding IMF but conditional upon certain measures pending at government’s end.

    The next round of meeting with the IMF starts from May 18th (source: news reports) so they expect government to soon consider rolling back of fiscal relief measures in order to get seventh review through, successfully.

    However, this step of government is most likely to further augment inflationary pressure hence, SBP might want to act proactively and consider rate hike in the upcoming policy.

    READ MORE: Key policy rate goes up to 9.75%; SBP raises 250bps in less than month