Today, November 6, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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Bank Holiday Declared for Allama Iqbal Day on November 9, 2024
Karachi, November 6, 2024 – In observance of Allama Iqbal Day, the State Bank of Pakistan (SBP) has announced a bank holiday for all commercial banks, development financial institutions, and microfinance banks (MFBs) across the country on November 9, 2024.
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SBP Approves Pilot Operations for Electronic Money Institutions
Karachi, November 5, 2024 – The State Bank of Pakistan (SBP) has granted in-principle approval to two companies—Toko Lab Private Limited and Accept Technologies Private Limited (PayMob)—to establish operations as an Electronic Money Institution (EMI) and a Payment System Operator (PSO)/Payment Service Provider (PSP), respectively. This pivotal decision marks a progressive step towards fostering innovation in the financial technology sector.
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SBP Issues Foreign Exchange Rates for November 5, 2024
Today, November 5, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Projects Rs 1.3 Trillion Interest Expense Savings on Rate Cuts
Karachi, November 4, 2024 – The State Bank of Pakistan (SBP) projects significant fiscal savings following its recent policy rate cuts, estimating that total interest expenses for the fiscal year 2024-25 will decrease to Rs 8.5 trillion from the initially budgeted Rs 9.8 trillion.
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SBP Slashes Benchmark Policy Rate by 250 Basis Points to 15%
Karachi, November 4, 2024 – In a bold move, the State Bank of Pakistan (SBP) announced a significant reduction in the country’s benchmark interest rate by 250 basis points (bps), bringing it down to 15%. The central bank’s decision, effective from November 5, 2024, reflects growing confidence in the ongoing disinflation trend, with inflation moderating closer to the SBP’s medium-term target range.
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SBP Issues Foreign Exchange Rates for November 4, 2024
Today, November 4, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Issues Foreign Exchange Rates for November 1, 2024
Today, November 1, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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Pakistan’s Foreign Exchange Reserves Rise by $32 Million
Karachi, October 31, 2024 – Pakistan’s foreign exchange reserves posted a modest uptick, increasing by $32 million over the past week, as revealed by the latest data from the State Bank of Pakistan (SBP) on Thursday.
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SBP Issues Foreign Exchange Rates for October 31, 2024
Today, October 31, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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