KARACHI: State Bank of Pakistan (SBP) on Friday issued the Karachi Interbank Offered Rates (KIBOR) as of December 17, 2021.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.84 | 10.34 |
| 2 – Week | 9.89 | 10.39 |
| 1 – Month | 9.98 | 10.48 |
| 3 – Month | 10.32 | 10.57 |
| 6 – Month | 11.12 | 11.37 |
| 9 – Month | 11.19 | 11.69 |
| 1 – Year | 11.24 | 11.74 |
KARACHI: Pakistan’s total foreign investment surged by 73 per cent during the first five months of the current fiscal year, according to data released by the State Bank of Pakistan (SBP) on Friday.
The total foreign investment increased to $455.5 million during July – November 2021/2022 as compared with $263.4 million in the same period of the last fiscal year.
The total foreign private investment registered a growth of 1.8 per cent to $534 million during the first five months of the current fiscal year as compared with Rs525 million in the same period of the last fiscal year.
Out of total foreign private investment, the Foreign Direct Investment (FDI) registered a growth of 12.3 per cent to $797.7 million during the first five months of the current fiscal year as compared with $710 million in the corresponding period of the last fiscal year.
The other component of the foreign investment, the portfolio investment registered a decline of 42 per cent. The portfolio investment recorded an outflow of $263 million during the first five months of the current fiscal year as compared with the outflow of $185.5 million in the corresponding period of the last fiscal year.
The foreign public investment recorded an increase of 70 per cent due to decline in outflow of investment against debt securities. The outflow in debt securities recorded $79 million during July – November of fiscal year 2021/2022 as compared with the outflow of $261 million in the same period of the last fiscal year.
Karachi, Pakistan – On Friday, the State Bank of Pakistan (SBP) unveiled the official exchange rates for December 17, 2021, providing customers with essential information based on the weighted average rates of commercial banks.
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KARACHI: Pakistan’s foreign exchange reserves declined by $123 million to $25.028 billion by the week ended on December 10, 2021, the State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country were $25.151 billion by the week ended December 03, 2021.
The official reserves of the State Bank came down by $90 million to $18.568 billion by the week ended December 10, 2021 as compared with $18.658 billion a week ago.
Similarly, the foreign exchange reserves held by commercial banks fell by $33 million to $6.46 billion by the week ended December 10, 2021 as compared with $6.493 billion a week ago.
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as of December 16, 2021.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.85 | 10.35 |
| 2 – Week | 9.89 | 10.39 |
| 1 – Month | 10.00 | 10.50 |
| 3 – Month | 10.56 | 10.81 |
| 6 – Month | 11.28 | 11.53 |
| 9 – Month | 11.27 | 11.77 |
| 1 – Year | 11.31 | 11.81 |
Karachi, Pakistan – On Thursday, the State Bank of Pakistan (SBP) released the official exchange rates for December 16, 2021, offering valuable insights for customers engaged in international transactions.
(more…)KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the Karachi Interbank Offered Rates (KIBOR) as of December 15, 2021.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.83 | 10.33 |
| 2 – Week | 9.90 | 10.40 |
| 1 – Month | 10.01 | 10.51 |
| 3 – Month | 10.49 | 10.74 |
| 6 – Month | 11.01 | 11.26 |
| 9 – Month | 11.08 | 11.58 |
| 1 – Year | 11.19 | 11.69 |
Karachi, Pakistan – On Wednesday, the State Bank of Pakistan (SBP) unveiled the official exchange rates for December 15, 2021, providing customers with crucial information based on the weighted average rates of commercial banks.
(more…)KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as of December 14, 2021.
Following are the latest KIBOR rates:
| Tenor | BID | OFFER |
| 1 – Week | 9.50 | 10.00 |
| 2 – Week | 9.64 | 10.14 |
| 1 – Month | 9.87 | 10.37 |
| 3 – Month | 10.62 | 10.87 |
| 6 – Month | 11.29 | 11.54 |
| 9 – Month | 11.39 | 11.89 |
| 1 – Year | 11.47 | 11.97 |
KARACHI: The State Bank of Pakistan (SBP) on Tuesday revised Foreign Exchange Manual related to remittances for petroleum sector operating under petroleum concession agreements.
The central bank invited attention of Authorized Dealers is drawn towards Para 27 of Chapter 14 of Foreign Exchange Manual in terms of which SBP notified the process of remittance for Petroleum Sector.
Based on representations received from various stakeholders, it has been decided to amend Para 27 of Chapter 14, as under:
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27. Remittance for Petroleum Sector Operating under Petroleum Concession Agreement(s):
Authorized Dealers are allowed to effect remittances, on account of purchase of Oil and Gas from Oil & Gas Exploration and Production (E&P) Companies operating in Pakistan under Petroleum Concession Agreements. All such remittances may be effected by the Authorized Dealer after satisfying itself about the genuineness of the transaction by reviewing the following documents:
Request letter from the applicant (Remitter).
Copy of duly executed valid Concession Agreement (to be submitted once during the validity period).
Details of Seller’s Working Interest.
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Copy of valid underlying agreement/contract etc. between Applicant (purchaser) and seller (to be submitted once during validity period) – wherever applicable.
Form “M” duly filled signed and stamped by the applicant
Invoices complying the above mentioned underlying agreements, with complete details including quantity, description of goods, price, and conversion rate duly signed and stamped by the seller.
Verification of each invoice by a designated senior officer of the buying company along with stamp and signature.
Foreign Exchange allocation /No objection/approval of Ministry of Finance, where applicable.
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Undertaking from the applicant to the effect that no payment has been made against the invoice(s) in question. The undertaking can also be made part of the request letter.”
In case of any exemption from documentary requirements stipulated above, the authorized dealer shall approach Foreign Exchange Operations Department, SBP-Banking Services Corporation Karachi with proper rationale and recommendations.