Tag: State Bank of Pakistan
Get the latest State Bank of Pakistan (SBP) news, monetary policy updates, exchange rates, banking regulations, and economic insights.
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SBP increases interest rate by 150bps to 13.75%
KARACHI: The State Bank of Pakistan (SBP) on Monday raised the benchmark interest rate by 150 basis points to 13.75 per cent from 12.25 per cent following the announcement made by the Monetary Policy Committee (MPC). The SBP said that in today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by…
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SBP’s customer forex rates – May 23, 2022
KARACHI, May 23, 2022 — The State Bank of Pakistan (SBP) has unveiled the foreign exchange rates for customers on Monday, May 23, 2022. These rates, determined based on the weighted average rates of commercial banks, offer valuable insights into the current state of the foreign exchange market.
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National Savings connects with Raast payment system
KARACHI: State Bank of Pakistan (SBP) on Sunday announced successful integration of Central Directorate of National Savings (CDNS) with Raast payment system. “Now customers of CDNS can receive their payments directly into their bank accounts without going to branches,” the SBP said. READ MORE: SBP launches free P2P money transfer under Raast Through this integration…
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Foreign investment falls by 57% in 10MFY22: SBP
KARACHI: The inflow of foreign investment into Pakistan fell by over 57 per cent during first 10 months (July – April) 2021/2022 owing to political uncertainty and change of government during the period, according to State Bank of Pakistan (SBP). The total inflow of foreign investment during the period fell to $1.57 billion as compared…
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SBP may increase key policy rate by 100bps: poll
KARACHI: The State Bank of Pakistan (SBP) may increase key policy rate by 100 basis points in the upcoming monetary policy announcement (MPS) on May 23, 2022. Topline Research conducted a poll from leading fund managers to assess their views on country’s economic outlook. Questions were asked on interest rate, inflation, currency, GDP growth and…
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Sending foreign exchange overseas for trading illegal: SBP
KARACHI: The State Bank of Pakistan (SBP) has said that sending foreign exchange outside Pakistan to overseas foreign exchange trading through any payment channel is not allowed. The SBP in a circular issued May 18, 2022 said that it had been observed a number of offshore foreign exchange trading, margin trading and contract for difference…
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SBP makes permission must for import of mobile phone, cars
KARACHI: The State Bank of Pakistan (SBP) has imposed condition for payment on import of mobile phones and motor cars. The SBP issued a circular related import goods making it mandatory for banks to take prior permission for releasing funds for import of motor cars, mobile phones and other machinery. READ MORE: SBP may raise…
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Current account deficit swells to $13.78 bn in 10 months
KARACHI: Pakistan’s current account deficit swelled to $13.78 billion during first 10 months (July – April) of the current fiscal year 2021/2022, State Bank of Pakistan (SBP) said on Friday May 20, 2022. The balance of payment (BoP) witnessed a deficit of $543 million in the same period of the last fiscal year. READ MORE:…
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SBP issues KIBOR rates – May 20, 2022
KARACHI: State Bank of Pakistan (SBP) on Friday issued the Karachi Interbank Offered Rates (KIBOR) as on May 20, 2022. Following are the latest KIBOR rates: Tenor BID OFFER 1 – Week 12.30 12.80 2 – Week 12.53 13.03 1 – Month 13.01 13.51 3 – Month 14.41 14.66 6 – Month 14.62 14..87 9 – Month 14.61 15.11…
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SBP’s customer exchange rates – May 20, 2022
KARACHI, May 20, 2022 – The State Bank of Pakistan (SBP) has issued the official exchange rates for customers on Friday, May 20, 2022. These rates are based on the weighted average rates provided by commercial banks and are meant for informational purposes only, according to an official statement by the SBP. The data released…
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