KARACHI: State Bank of Pakistan (SBP) on Thursday issued the following Karachi Interbank Offered Rates (KIBOR) on October 21, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.22 | 7.72 |
| 2 – Week | 7.26 | 7.76 |
| 1 – Month | 7.33 | 7.83 |
| 3 – Month | 8.08 | 8.33 |
| 6 – Month | 8.44 | 8.69 |
| 9 – Month | 8.71 | 9.21 |
| 1 – Year | 8.93 | 9.43 |
Karachi, October 21, 2021: The State Bank of Pakistan (SBP) has issued the official exchange rates for Thursday, October 21, 2021.
(more…)KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the following Karachi Interbank Offered Rates (KIBOR) on October 20, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.22 | 7.72 |
| 2 – Week | 7.26 | 7.76 |
| 1 – Month | 7.31 | 7.81 |
| 3 – Month | 7.83 | 8.08 |
| 6 – Month | 8.20 | 8.45 |
| 9 – Month | 8.52 | 9.02 |
| 1 – Year | 8.81 | 9.31 |
Karachi, October 20, 2021: The State Bank of Pakistan (SBP) has released the official exchange rates for Wednesday, October 20, 2021.
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KARACHI: Pakistan’s current account deficit has ballooned to $3.4 billion during first quarter (July – September) of the current fiscal year 2021/2022 (1QFY22) owing to significant widening in trade deficit.
According to balance of payment (BOP) statistics released by the State Bank of Pakistan (SBP) on Tuesday, the current account deficit widened to $3.4 billion during the first quarter of the current fiscal year as compared with a surplus of $865 million in the corresponding period of the last fiscal year.
The country’s trade deficit has swollen by massive 102.10 per cent to $11.75 billion during the quarter under review as compared with the deficit of $5.81 billion in the corresponding quarter of the last fiscal year.
The import bill registered a sharp growth of 66.11 per cent to $18.75 billion during July – September of the current fiscal year as compared with $11.29 billion in the same period of the last fiscal year.
Meanwhile, the exports have also exhibited a growth of 28 per cent to $6.99 billion during the quarter under review as compared with $5.47 billion in the same period of the last fiscal year.
Overseas Pakistanis have remitted $8.034 billion during first quarter (July – September) of the fiscal year 2021/2022.
The home remittances during the first quarter registered a rise of 12.5 per cent when compared with $7.143 billion in the corresponding period of the last fiscal year.
The inflows of remittances were $2.7 billion in September 2021 as compared with $2.28 billion in the same month of the last year, showing an increase of 17.1 per cent.
The current account deficit narrowed in September 2021 to $1.113 billion when compared with the deficit of $1.47 billion in August 2021.
The current account deficit was $1.916 billion in the last fiscal year 2020/2021.
KARACHI: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on October 18, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.22 | 7.72 |
| 2 – Week | 7.25 | 7.75 |
| 1 – Month | 7.30 | 7.80 |
| 3 – Month | 7.76 | 8.01 |
| 6 – Month | 8.16 | 8.41 |
| 9 – Month | 8.46 | 8.96 |
| 1 – Year | 8.74 | 9.24 |
Karachi, October 18, 2021 – The State Bank of Pakistan (SBP) has released the latest exchange rates for various foreign currencies against the Pakistani Rupee (PKR) on Monday, October 18, 2021.
(more…)KARACHI: State Bank of Pakistan (SBP) on Friday issued the following Karachi Interbank Offered Rates (KIBOR) on October 15, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.21 | 7.71 |
| 2 – Week | 7.25 | 7.75 |
| 1 – Month | 7.29 | 7.79 |
| 3 – Month | 7.71 | 7.96 |
| 6 – Month | 8.10 | 8.35 |
| 9 – Month | 8.38 | 8.88 |
| 1 – Year | 8.60 | 9.10 |
KARACHI: The State Bank of Pakistan (SBP) has made it mandatory for its regulated entities (REs) including banks, microfinance banks, payment system operators and payment system providers to provide digital means of payments to their corporate clients to enable businesses for sending and receiving their payments.
Ina statement issued on Friday, the central bank said the SBP has now made it mandatory for its regulated entities (REs) including banks, microfinance banks, payment system operators and payment system providers to provide digital means of payments to their corporate clients to enable businesses for sending and receiving their payments.
SBP, in its recent Circular, has asked its regulated entities to facilitate their institutional clients including corporations, companies, and partnerships for making large value payments through digital channels.
Regulated entities are now required to extend online portals/platforms for digital payments & receipts of corporates including online interbank fund transfer services, online bill/invoice sharing and payment services like over the Counter (OTC) digital payments services/facilities, card payments using Point of Sale (POS) terminals, QR codes, mobile devices, ATMs, Kiosk or any other digital payments enabled device.
In order to monitor the progress of implementation of these instructions, SBP has advised banks to submit roadmap of implementing these measures within 30 days.
Banks are also required to submit quarterly progress reports to SBP on the number of businesses facilitated for digitization of their payments and receipts.
SBP expects that these measures would increase documentation of value chains and help businesses manage their large value transactions more effectively.
The initiative will also facilitate implementation of Federal Board of Revenue’s recently introduced measures on integration of businesses with FBR system and conducting of corporate payments through digital means.
Regulated entities are also required to make all efforts to onboard non-corporate players including Sole Proprietors, SMEs and MSMEs for the provision of digital payments.
KARACHI: State Bank of Pakistan (SBP) on Friday announced that banks shall remain closed on October 19, 2021 on the occasion of Eid Milad-un-Nabi (Sallallahu Alayhi Wa-Sallam).
In a statement, the central bank said that it will remain closed on Tuesday, October 19, 2021 (i.e. 12th Rabi-ul-Awal, 1443 A.H.)
on the occasion of Eid Milad-un-Nabi (Sallallahu Alayhi Wa-Sallam).
Similar instructions have been also communicated to chief executives and presidents of commercial banks, Development Financial Institutions (DFIs) and Microfinance Banks (MFBs).