Islamabad—In a significant development, the Senate Standing Committee on Economic Affairs has called for strict measures against commercial banks allegedly involved in currency manipulation and over-invoicing while opening Letters of Credit (LCs).
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SBP Issues Foreign Exchange Rates for September 23, 2024
Today, September 23, 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 Extends Validity of Cash Dollar Imports for Exchange Companies Until June 2025
Karachi, September 23, 2024 – The State Bank of Pakistan (SBP) has announced an extension in the validity period for the import of cash US dollars by exchange companies until June 30, 2025. This decision comes as a continuation of the SBP’s earlier facility, which allowed exchange companies to import up to 50% of the value of their export consignments in cash US dollars.
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SBP Issues Foreign Exchange Rates for September 20, 2024
Today, September 20, 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 Deposits Surge 18% YoY in August 2024: SBP
Karachi, September 19, 2024 – Bank deposits in Pakistan surged by 18% year-on-year (YoY) in August 2024, according to data released by the State Bank of Pakistan (SBP) on Thursday. Total deposits reached Rs 30.78 trillion by the end of August 2024, up from Rs 26.11 trillion during the same period in 2023.
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Pakistan’s Net Forex Reserves Up $31 Million in a Week
Karachi, September 19, 2024 – Pakistan’s net foreign exchange reserves increased by $31 million during the week ending September 13, 2024, according to the State Bank of Pakistan (SBP). The country’s total forex reserves now stand at $14.827 billion, up from $14.796 billion recorded on September 6, 2024.
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SBP Issues Foreign Exchange Rates for September 19, 2024
Today, September 19, 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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Banking Sector Grows 11.5% in H1CY24: SBP Report
Karachi, September 18, 2024 – The State Bank of Pakistan (SBP) reported on Wednesday that the country’s banking sector experienced a robust growth of 11.5% during the first half of the calendar year 2024 (H1CY24). In its mid-year performance review, covering the period from January to June 2024, the SBP attributed this growth primarily to an expansion in the banking sector’s asset base, driven by a surge in investments.
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Pakistan’s Current Account Deficit Contracts by 81% in 2MFY25
Karachi, September 18, 2024 – Pakistan’s current account deficit witnessed a sharp contraction of 81% during the first two months (July–August) of the current fiscal year 2024-25, according to a report released by the State Bank of Pakistan (SBP) on Wednesday. The deficit fell to $171 million, compared to $893 million in the corresponding period of the previous fiscal year.
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SBP Issues Foreign Exchange Rates for September 18, 2024
Today, September 18, 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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