KARACHI: State Bank of Pakistan (SBP) on Monday issued following Karachi Interbank Offered Rates (KIBOR) on July 05, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.90 | 7.40 |
| 2 – Week | 6.95 | 7.45 |
| 1 – Month | 7.01 | 7.51 |
| 3 – Month | 7.20 | 7.45 |
| 6 – Month | 7.42 | 7.67 |
| 9 – Month | 7.51 | 8.01 |
| 1 – Year | 7.57 | 8.07 |
KARACHI: The State Bank of Pakistan (SBP) on Monday issued customers’ exchange rates on the basis of weighted average rates of commercial banks.
The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients.
They are compiled from the Exchange Rate sheets issued daily by various Commercial Banks providing their indicative Exchange Rates for commercial transactions with customers.
| CURRENCY | BUYING | SELLING |
| AED | 43.0063 | 43.1013 |
| AUD | 118.6700 | 118.9271 |
| CAD | 127.9000 | 128.1731 |
| CHF | 171.1654 | 171.5309 |
| CNY | 24.4594 | 24.5100 |
| EUR | 187.1909 | 187.6133 |
| GBP | 218.3152 | 218.7980 |
| JPY | 1.4205 | 1.4237 |
| SAR | 42.0931 | 42.1838 |
| USD | 157.8287 | 158.1920 |
KARACHI: State Bank of Pakistan (SBP) on Saturday said that overseas Pakistanis have deposited $1.56 billion through Roshan Digital Account during past 10 months.
The SBP said that since its launch by the Prime Minister of Pakistan on September 10, 2020, Roshan Digital Account has attracted significant interest from overseas Pakistanis.
“According to the new web page released today, 181,556 accounts have been opened from 171 countries across the world and $ 1.562 billion has been deposited in these accounts through end-June 2021.”
In line with SBP’s commitment to transparency in its key policy measures, SBP from today has begun releasing regular data on the progress of Roshan Digital Account (RDA).
This web page will be updated on a monthly basis. This periodic update was also requested by market participants.
Since its launch by the Prime Minister of Pakistan on 10th September 2020, Roshan Digital Account has attracted significant interest from overseas Pakistanis.
According to the new web page released today, 181,556 accounts have been opened from 171 countries across the world and $1.562 billion has been deposited in these accounts through end-June 2021.
The webpage shows monthly trends in the number of accounts opened, deposits, and investments in Naya Pakistan Certificates (NPCs) and the stock market.
The data shows an accelerating trend across all these dimensions over the last few months. June 2021 saw the highest monthly amount of deposits ($ 310 million) and NPC investments ($ 233 million) since the launch of Roshan Digital Account. As of end-June 2021, $ 1050 million has been invested in NPCs, with $621 million in conventional NPCs and $429 million in Islamic NPCs.
Roshan Digital Account is a landmark initiative of the State Bank which seamlessly connects the Pakistani diaspora to the Pakistani financial system and economy.
For the first time, it allows overseas Pakistanis to open a bank account in Pakistan in a completely digital manner, without needing to visit any bank branch or embassy.
The account enables overseas Pakistanis to undertake all kinds of banking transactions in Pakistan, including paying school and utility bills for their families, funds transfer, e-commerce, car financing through Roshan Apni Car and making charitable donations through Roshan Samaaji Khidmat.
At the same time, the account provides exclusive investment opportunities in Naya Pakistan certificates offering attractive returns in both conventional and Shariah-compliant forms, as well as the Pakistani stock market and real estate.
The tax treatment is simple, freeing overseas Pakistanis from the need to file a tax return in Pakistan on income derived from investments through the account. Importantly, the account is fully repatriable, giving overseas Pakistanis the comfort of being able to remit the money in their accounts back to where they live without any difficulty.
KARACHI: State Bank of Pakistan (SBP) on Friday said that requirement of Electronic Form-E (EFE) will be eliminated for carrying out exports through Pakistan Single Window (PSW).
In this regard SBP has notified revisions in foreign exchange regulations for export of goods from Pakistan (Chapter 12 of the Foreign Exchange Manual).
The key changes include amendments in regulations to facilitate export transactions through the Pakistan Single Window when it becomes operational.
This will eliminate the requirement of Electronic Form-E (EFE) for carrying out exports from Pakistan.
Another key amendment introduced in the revised export regulations is the framework for facilitating Pakistani exporters/ entrepreneurs to sell their products through international digital marketplaces including Amazon, e-Bay, Ali Baba under Business to Business to Consumer (B2B2C) e-Commerce model.
These regulations would pave the way for Pakistani exporters particularly the SME exporters to reach out to millions of international consumers for selling their products. This would open up the window of new opportunities for the Pakistani business community and result in boosting the economic activity and creation of new employment opportunities in the entire value chain.
It is pertinent to mention here that considering the market dynamics and keeping pace with changing business environment, SBP is in process of revising the foreign exchange regulations, in consultation with relevant stakeholders in a phased manner. The primary objective of these revisions is to promote ease of doing business by simplifying the existing instructions, removing the redundancies and delegating more powers to the Authorized Dealers for facilitation of the stakeholders.
Earlier, SBP and Pakistan Customs had joined hands in 2015 and switched from manual export form to electronic export form by implementing EFE Module in WeBOC system. EFE is an electronic declaration submitted by exporters to the Pakistan Customs and is required before filing of Goods Declaration to the Pakistan Customs for clearance of each export consignment. However, once the Pakistan Single Window (PSW) becomes operational, the requirement for EFE will be eliminated thus enhancing ease of doing business for exporters. PSW system is a facility that will allow parties involved in trade and transport to lodge standardized information and documents with a single-entry point to fulfil all import, export, and transit-related regulatory requirements. The system will help reduce the time and cost of doing business by making trade related business processes more efficient, transparent and consistent.
KARACHI: State Bank of Pakistan (SBP) on Friday issued following Karachi Interbank Offered Rates (KIBOR) on July 02, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.91 | 7.41 |
| 2 – Week | 6.95 | 7.45 |
| 1 – Month | 7.01 | 7.51 |
| 3 – Month | 7.20 | 7.45 |
| 6 – Month | 7.42 | 7.67 |
| 9 – Month | 7.51 | 8.01 |
| 1 – Year | 7.57 | 8.07 |
Islamabad, July 2, 2021 – The State Bank of Pakistan (SBP) has officially released the exchange rates for various currencies on July 2, 2021, providing a reference for banks and financial institutions for customer transactions. These rates serve as a benchmark for buying and selling different foreign currencies against the Pakistani Rupee (PKR).
(more…)
The State Bank of Pakistan (SBP) has released the Karachi Interbank Offered Rates (KIBOR) for various tenors on June 30, 2021.
(more…)KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued customers’ exchange rates on the basis of weighted average rates of commercial banks.
The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients.
They are compiled from the Exchange Rate sheets issued daily by various Commercial Banks providing their indicative Exchange Rates for commercial transactions with customers.
| CURRENCY | BUYING | SELLING |
| AED | 42.8161 | 42.9103 |
| AUD | 118.1931 | 118.4502 |
| CAD | 126.8434 | 127.1192 |
| CHF | 170.5525 | 170.9182 |
| CNY | 24.3727 | 24.4233 |
| EUR | 187.0357 | 187.4509 |
| GBP | 217.6191 | 218.1011 |
| JPY | 1.4221 | 1.4253 |
| SAR | 41.9074 | 41.9981 |
| USD | 157.1288 | 157.4921 |
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued following Karachi Interbank Offered Rates (KIBOR) on June 29, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 6.89 | 7.39 |
| 2 – Week | 6.94 | 7.44 |
| 1 – Month | 7.01 | 7.51 |
| 3 – Month | 7.20 | 7.45 |
| 6 – Month | 7.43 | 7.68 |
| 9 – Month | 7.50 | 8.00 |
| 1 – Year | 7.57 | 8.07 |
KARACHI: The State Bank of Pakistan (SBP) on Tuesday issued customers’ exchange rates on the basis of weighted average rates of commercial banks.
The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients.
They are compiled from the Exchange Rate sheets issued daily by various Commercial Banks providing their indicative Exchange Rates for commercial transactions with customers.
| CURRENCY | BUYING | SELLING |
| AED | 43.0956 | 43.1891 |
| AUD | 119.5800 | 119.8363 |
| CAD | 128.1818 | 128.4549 |
| CHF | 171.9564 | 172.3258 |
| CNY | 24.5207 | 24.5713 |
| EUR | 188.5228 | 188.9393 |
| GBP | 219.3855 | 219.8765 |
| JPY | 1.4301 | 1.4333 |
| SAR | 42.1791 | 42.2707 |
| USD | 158.1534 | 158.5167 |