Karachi, February 15, 2022 – The State Bank of Pakistan (SBP) has published the latest exchange rates for various foreign currencies against the Pakistani Rupee (PKR) on Tuesday, February 15, 2022.
(more…)Tag: State Bank of Pakistan
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SBP issues KIBOR rates on February 14, 2022
KARACHI: State Bank of Pakistan (SBP) on Monday issued the Karachi Interbank Offered Rates (KIBOR) as of February 14, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.76 10.26 2 – Week 9.79 10.29 1 – Month 9.86 10.36 3 – Month 10.18 10.43 6 – Month 10.54 10.79 9 – Month 10.63 11.13 1 – Year 10.73 10.23 -
Customers’ exchange rates on February 14, 2022
KARACHI: The State Bank of Pakistan (SBP) on Monday issued customers’ exchange rates for February 14, 2022. The exchange rate is on the basis of weighted average rates of commercial banks.
The SBP said the data is compiled and disseminated for information only. These exchange rates are estimates that quoted by various commercial banks to their clients.
The banks provide their indicative exchange rates for commercial transactions with customers.
CURRENCY BUYING SELLING AED 47.6987 47.8097 AUD 124.6648 124.9624 CAD 137.5099 137.8206 CHF 189.1961 189.6379 CNY 27.5406 27.6028 EUR 198.6804 199.1552 GBP 237.0812 237.6435 JPY 1.5170 1.5206 SAR 46.6725 46.7793 USD 175.0763 175.4991 -
Remittances increase to record $18 billion in 7 months
KARACHI: The inflows of workers’ remittances have increased to record $18 billion during the first seven months (July – January) 2021/2022, the State Bank of Pakistan (SBP) said on Friday.
The remittances registered an increase of 9.35 per cent during the period under review when compared with $16.46 billion received during first seven months of the last fiscal year.
READ MORE: Exchange companies get incentive for dollar surrender
The SBP said that during the first seven months of 2021/2022, remittances have risen to a record $18 billion.
At $2.14 billion in January 2022, workers’ remittances remained above $2 billion for the 20th consecutive month.
READ MORE: Incentives approved for exchange companies on dollar surrender
Remittances declined by 5 per cent compared to January 2021, partly reflecting an easing of travel restrictions. Compared to the previous month, they fell by 14.9 per cent due to seasonality.
READ MORE: Pakistan’s remittances fall by 6.6% in November 2021
Remittance inflows during January 2022 were mainly sourced from Saudi Arabia ($540 million), United Arab Emirates ($374 million), United Kingdom ($320 million) and United States of America ($208 million).
READ MORE: ECC approves loyalty program for home remittances
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SBP issues KIBOR rates on February 11, 2022
KARACHI: State Bank of Pakistan (SBP) on Friday issued the Karachi Interbank Offered Rates (KIBOR) as of February 11, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.73 10.23 2 – Week 9.77 10.27 1 – Month 9.82 10.32 3 – Month 10.16 10.41 6 – Month 10.52 10.77 9 – Month 10.62 11.12 1 – Year 10.70 11.20 -
SBP imposes Rs1.45 billion penalty on 18 banks in 2021
KARACHI: The State Bank of Pakistan (SBP) has imposed Rs1.45 billion as monetary penalty on 18 financial institutions for violating regulatory provisions during the year ended December 31, 2021.
According to data compiled by PkRevenue.com related to significant action taken during the year 2021, the SBP imposed Rs1.45 billion as monetary penalty on 18 financial institutions.
The central bank issues data of significant actions against banks on quarterly basis. The detail of imposition of monetary penalty during each quarter of 2021 is as: January – March, Rs 97.6 million; April – June, Rs 525.25 million; July – June, Rs465.04 million; and October – December Rs58 million.
READ MORE: SBP imposes penalty of Rs58 million on five banks
The banks mostly violated regulatory provisions related to foreign exchange and general banking operations. Further, banks were also found violating instruction pertaining to anti-money laundering (AML) and counter financing of terrorism (CFT).
Besides, the banks had also violated instructions pertaining to customer due diligence (CDD) and know your customer (KYC).
READ MORE: SBP slaps Rs280 million penalty on National Bank
The details of penalty imposed on 18 banks is as follow:
01. Habib Bank Limited: Rs39.77 million
02. MCB Bank: Rs299.1 million
03. MCB Islamic Bank Limited: Rs 37.1 million
04. United Bank Limited: Rs49 million
05. Bank Alfalah Limited: Rs11.1 million
READ MORE: SBP imposes monetary penalty on eight banks
06. First Women Bank Limited: Rs31.57 million
07. Sindh Bank Limited: Rs62.18 million
08. Soneri Bank Limited: Rs12.6 million
09. Zarai Taraqiati Bank Limited: Rs75.76 million
10. The Punjab Provincial Cooperative Bank Limited: Rs32.5 million
11. Pak Brunai Investment Company Limited: Rs10.45 million
12. National Bank of Pakistan (NBP): Rs291 million
READ MORE: Habib Bank pays penalty of Rs42.2 million to SBP
13. Silk Bank Limited: Rs132.44 million
14. Industrial and Commercial Bank of China-Pakistan Branches: Rs13.54 million
15. Bank Alhabib Limited: Rs 13.68 million
16. The Bank of Punjab: Rs 12.54 million
17. Standard Chartered Bank (Pakistan) Limited: Rs11.04 million
18. Askari Bank Limited: Rs10.3 million
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Customers’ exchange rates on February 11, 2022
KARACHI: The State Bank of Pakistan (SBP) on Friday issued customers’ exchange rates for February 11, 2022. The exchange rate is on the basis of weighted average rates of commercial banks.
The SBP said the data is compiled and disseminated for information only. These exchange rates are estimates that quoted by various commercial banks to their clients.
The banks provide their indicative exchange rates for commercial transactions with customers.
CURRENCY BUYING SELLING AED 47.5578 47.6689 AUD 124.2552 124.5426 CAD 136.9387 137.2553 CHF 188.2125 188.6418 CNY 27.4636 27.5230 EUR 198.7180 199.1838 GBP 236.1727 236.7234 JPY 1.5035 1.5070 SAR 46.5364 46.6432 USD 174.5579 174.9807 -
Pakistan foreign exchange reserves rise to $23.72 billion
KARACHI: Pakistan’s foreign exchange reserves increased significantly to $23.72 billion owing to inflows from International Monetary Fund (IMF) and Sukuk proceeds.
The total liquid foreign exchange reserves of the country rose by $1.637 billion to $23.721 billion by week ended February 04, 2022.
The foreign exchange reserves of the country were $22.084 billion by week ended January 28, 2022, the State Bank of Pakistan (SBP) said on Thursday.
The official reserves of the State Bank increased by $1.61 billion to $17.337 billion by week ended February 04, 2022 as compared with $15.727 billion a week ago.
The SBP said that the rise in foreign exchange reserves due to inflows of $ 1,053 million received from IMF under EFF program and proceeds against Pakistan International Sukuk Bond issuance of $1,000 million.
The foreign exchange held by commercial banks also increased by $25 million to $6.384 billion by week ended February 04, 2022 as compared with $6.357 billion a week ago.
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SBP issues KIBOR rates on February 10, 2022
KARACHI: State Bank of Pakistan (SBP) on Thursday issued the Karachi Interbank Offered Rates (KIBOR) as of February 10, 2022.
Following are the latest KIBOR rates:
Tenor BID OFFER 1 – Week 9.73 10.23 2 – Week 9.77 10.27 1 – Month 9.84 10.34 3 – Month 10.15 10.40 6 – Month 10.53 10.78 9 – Month 10.62 11.12 1 – Year 10.70 11.20 -
Customers’ exchange rates on February 10, 2022
KARACHI: The State Bank of Pakistan (SBP) on Thursday issued customers’ exchange rates for February 10, 2022. The exchange rate is on the basis of weighted average rates of commercial banks.
The SBP said the data is compiled and disseminated for information only. These exchange rates are estimates that quoted by various commercial banks to their clients.
The banks provide their indicative exchange rates for commercial transactions with customers.
CURRENCY BUYING SELLING AED 47.6714 47.7824 AUD 125.5087 125.7944 CAD 138.0574 138.3703 CHF 189.3244 189.7747 CNY 27.5525 27.6128 EUR 199.9577 200.4259 GBP 236.7872 237.3628 JPY 1.5130 1.5166 SAR 46.6477 46.7545 USD 174.9777 175.4005