KARACHI: The State Bank of Pakistan (SBP) on Friday issued the Karachi Interbank Offered Rates (KIBOR) as of July 22, 2022. These rates are a critical indicator of the cost of borrowing in the interbank market and are utilized as a benchmark for various lending and investment products.
(more…)Tag: SBP
-
SBP’s customer forex rates – July 22, 2022
On Friday, July 22, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, disclosing the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
(more…) -
Pakistan’s forex reserves decline to $15.24 billion
KARACHI: Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022, State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.
READ MORE: Pakistan’s forex reserves drop to $15.61 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 $11.986 billion.
The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.
READ MORE: Pakistan’s forex reserves deplete to $15.74 billion
The SBP attributed the decline in foreign exchange reserves to external debt repayments.
It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.
READ MORE: State Bank’s reserves dip to 32-month low at $8.238 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 declined by $10.817 billion.
The commercial banks held foreign exchange increased to $5.913 billion by week ended July 15, 2022 when compared with $5.893 billion a week ago, showing a rise of $20 million.
READ MORE: Pakistan’s central bank reserves shrink to one month import cover
-
SBP issues KIBOR rates – July 21, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as on July 21, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.29 14.79 2 – Week 14.39 14.89 1 – Month 14.53 15.03 3 – Month 14.96 15.21 6 – Month 15.43 15.68 9 – Month 15.49 15.99 1 – Year 15.55 16.05 -
SBP’s customer forex rates – July 21, 2022
On Thursday, July 21, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, revealing the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
(more…) -
SBP issues KIBOR rates – July 20, 2022
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as on July 20, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.29 14.79 2 – Week 14.41 14.91 1 – Month 14.58 15.08 3 – Month 14.94 15.19 6 – Month 15.41 15.66 9 – Month 15.48 15.98 1 – Year 15.53 16.03 -
NKATI asks SBP to stop free-fall in rupee value against dollar
KARACHI: Industrialists of North Karachi Trade and Industry (NKATI) have urged the State Bank of Pakistan (SBP) to stop free-fall of rupee against the US dollar.
In a statement, NKATI President Faisal Moiz Khan has urged the State Bank of Pakistan (SBP) to take measures for stabilizing the local currency as dollar breached Rs226 level in the interbank foreign exchange market.
READ MORE: NKATI launches industrial area beautification
“The SBP should adopt effective strategies to stabilize the rupee and curb the continued appreciation of the dollar,” he added.
President NKATI said that rising the dollar will have very negative effects on the industrial production activities while the country’s economy will also be badly affected and a storm of inflation will come.
The ongoing political ups and downs in the country are in place but the central bank needs to play its role as a regulator to prevent the dollar from soaring and the rupee from falling.
READ MORE: NKATI urges PM Imran to reduce petroleum prices
Moiz said that the continued appreciation of the dollar against the rupee has led to an enormous increase in industrial costs, making Pakistani products less competitive in export markets and unsustainably increasing commodity prices in domestic markets.
“The appreciation of the dollar has more than doubled the cost of industrial raw materials, making it difficult to sustain production activities, and the industrial community fears that if the rupee continues to depreciate and the dollar continues to rise, timely fulfilment of export orders will not be possible,” he informed.
READ MORE: Pakistan raises petrol price to record high at Rs160/liter
NKATI president further said that the energy crisis, high rates of electricity, gas, taxes have already significantly increased the cost of production and now the continuous increase in the value of the dollar will sink the industries, which will lead to flood of unemployment and domestic exports will also be affected, so the central bank should adopt a strategy to curb the dollar price hike, otherwise it will become difficult to run the industries.
-
SBP’s customer forex rates – July 20, 2022
On Wednesday, July 20, 2022, the State Bank of Pakistan (SBP) issued the foreign exchange rates for customers, disclosing the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
(more…) -
SBP issues KIBOR rates – July 19, 2022
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as on July 19, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 14.41 14.91 2 – Week 14.50 15.00 1 – Month 14.63 15.13 3 – Month 14.89 15.14 6 – Month 15.44 15.69 9 – Month 15.50 16.00 1 – Year 15.53 16.03 -
SBP’s customer forex rates – July 19, 2022
On Tuesday, July 19, 2022, the State Bank of Pakistan (SBP) released the foreign exchange rates for customers, outlining the buying and selling prices of various currencies against the Pakistani Rupee (PKR).
(more…)