Tag Archives: SBP


payments SBP state bank of pakistan new mechanismbanks fined SBP anti-money launderingState Bank interest rate State Bank of Pakistan Coronavirus Coronavirus pandemic pandemic COVID-19SBP State bank of Pakistan lockdown private banks ATms digital onlineSBP policy rate 75bps economic challenges global coronavirus outbreakSBP BPS policy rate state bank of pakistan

SBP introducing new mechanism to enhance EODB

08 August, 2020 7:30 pm 7:30 pm

KARACHI (92 News) – State Bank of Pakistan has decided to introduce a new mechanism to enable the companies in the country to make instant payments for acquiring digital services from the globally recognized digital service provider companies In a statement, the State Bank said now the local companies can access various services from these … Read More


payments SBP state bank of pakistan new mechanismbanks fined SBP anti-money launderingState Bank interest rate State Bank of Pakistan Coronavirus Coronavirus pandemic pandemic COVID-19SBP State bank of Pakistan lockdown private banks ATms digital onlineSBP policy rate 75bps economic challenges global coronavirus outbreakSBP BPS policy rate state bank of pakistan

15 Pakistani banks fined for violating anti-money laundering laws

07 July, 2020 5:29 pm 5:29 pm

ISLAMABAD (92 News) – The State Bank of Pakistan (SBP) has imposed heavy fines on 15 commercial banks for violating anti-money laundering and terror financing laws. According to the reports, the SBP penalised 15 banks for violating customer due diligence, foreign exchange. The collective fine amounts to Rs1.68 billion and was imposed from March to … Read More


SBP, reduces, markup rate, 5%, 7%, refinance schemes

SBP reduces markup rate to 5% from existing 7% on two refinance schemes

07 July, 2020 5:48 pm 5:48 pm

KARACHI (92 News) – Taking cognizance of the negative fallout of COVID-19 pandemic for the economy, State Bank of Pakistan (SBP) has decided to reduce the end user markup rate to five percent from seven percent. According to a press release issued by the SBP on Wednesday, the end user markup rates have been curtailed … Read More


SBP, reduces, interest rate, 100 basis points, 8 percent

SBP reduces interest rate by 100 basis points to 8 percent

05 May, 2020 4:25 pm 4:25 pm

ISLAMABAD (92 News) – The State Bank of Pakistan (SBP) has further reduced the interest rate by 100 basis points to eight percent. It was decided during a meeting of the monetary policy committee (MPC) on Friday. “This decision reflected the MPC’s view that the inflation outlook has improved further in light of the recent … Read More


SBP, new currency notes, Eid

SBP not to issue new currency notes on Eidul Fitr

05 May, 2020 8:33 pm 8:33 pm

KARACHI (92 News) – The State Bank of Pakistan (SBP) has announced not to issue new currency notes on Eidul Fitr. The decision has been taken to stop the spread of coronavirus and maintain social distancing. The new currency notes will not be given to citizens. The SBP, in a letter, has issued directions to … Read More


Rupee Dollar US dollar highest level currency SBPUS Dollar dollar pakistani rupees KSE KSE index points market interbank 156.35

US dollar hits highest level of country’s history against Pakistani Rupee

03 March, 2020 3:03 pm 3:03 pm

KARACHI (92 News) – US dollar hits highest level of country’s history against Pakistani Rupee as Pakistan’s central bank lost its clutch on the US dollar as it appreciated to Rs166.13—its highest ever on Thursday. The value of the US dollar against the rupee rose Rs4.53 to Rs166.13 in the interbank market. The dollar rate … Read More


SBP, reduces, interest rate, 100 basis points, 8 percent

SBP reduces interest rate by 150bps to 11 percent

03 March, 2020 7:23 pm 7:23 pm

KARACHI (92 News) – The State Bank of Pakistan has reduced the interest rate by 150 basis points, bringing it to 11 percent from 12.50 percent. The SBP spokesman said that the interest rate had been reduced keeping in view the current economic situation of the country. He said that the policy rate has been … Read More


payments SBP state bank of pakistan new mechanismbanks fined SBP anti-money launderingState Bank interest rate State Bank of Pakistan Coronavirus Coronavirus pandemic pandemic COVID-19SBP State bank of Pakistan lockdown private banks ATms digital onlineSBP policy rate 75bps economic challenges global coronavirus outbreakSBP BPS policy rate state bank of pakistan

SBP directs all banks to remain open across country during lockdown

03 March, 2020 10:34 am 10:34 am

KARACHI (92 News) – The State Bank of Pakistan (SBP) directed all the banks to remain open across Pakistan during lockdown owing to the coronavirus pandemic. The SBP announced a change in bank timings as several cities of the country are under a lockdown due to coronavirus outbreak. The notification regarding the new timings also … Read More


payments SBP state bank of pakistan new mechanismbanks fined SBP anti-money launderingState Bank interest rate State Bank of Pakistan Coronavirus Coronavirus pandemic pandemic COVID-19SBP State bank of Pakistan lockdown private banks ATms digital onlineSBP policy rate 75bps economic challenges global coronavirus outbreakSBP BPS policy rate state bank of pakistan

SBP decreases policy rate by 75bps to tackle coronavirus outbreak

03 March, 2020 6:42 pm 6:42 pm

KARACHI (92 News) – The State Bank of Pakistan (SBP) on Tuesday announced to cut its policy rate by 75 basis points to 12.50 from 13.25 to tackle the economic challenges posed by the global coronavirus outbreak. The SBP’s Monetary Policy Committee (MPC) which met today took stock of the dominant development of the coronavirus … Read More


SBP, policy rate, 13.25 %, two months

SBP unveils new monetary policy for next two months

01 January, 2020 9:56 pm 9:56 pm

KARACHI (92 News) – State Bank of Pakistan (SBP) has unveiled its monetary policy for the next two months. Announcing the monetary policy decision at a news conference, SBP Governor Dr Reza Baqir said that the SBP has to keep the interest rate unchanged at 13.25 per cent, saying supply side inflation continued to exert … Read More


adviser on Finance foreign reserves Hafeez Shaikh SBP

Foreign exchange reserves of SBP increased by $1.8bn: Hafeez Shaikh

12 December, 2019 3:07 pm 3:07 pm

ISLAMABAD (92 News) – Adviser on Finance Abdul Hafeez Shaikh has said that the foreign exchange reserves of State Bank of Pakistan (SBP) increased by 1.8 billion dollars during this period. In a tweet on Friday, the adviser also said that the current account deficit reduced by 73 per cent during the first five months … Read More


SBP maintains current interest rate of 13.25pc for next two months

09 September, 2019 2:25 am 2:25 am

KARACHI (92 News) – State Bank of Pakistan  (SBP) Monday announced the monetary policy for next two months, maintaining the rate of interest unchanged at 13.25 percent. According to a press release issued by SBP on Monday, the rupee has strengthened modestly against the US dollar. It is said that the external sector continued to … Read More


KARACHI (92 News) – The US dollar fell by Rs.85 to reach Rs159.20 in the interbank market on Wednesday as the trading is continuing for the day. The benchmark KSE-100 index increased 50 points to push up the index. On Tuesday, the US dollar rose in the interbank market, inching up by 1.04 paisa to reach Rs160.90. The rupee maintained downward drive for the seventh straight session ahead of the likely hike in key interest rate. The rupee further weakened Rs1.04 to Rs160.90 to the US dollar in intra-day trade in the inter-bank market. The benchmark KSE-100 index decreased 110 points to push down the index less than 33,150 points. The State Bank of Pakistan (SBP) is strongly expected to hike key interest rate by 100 basis points to rein the future inflation in the afternoon. Last week, Pakistan received the first tranche of a loan of $991.4 million from the International Monetary Fund (IMF) under the under Extended Fund Facility (EFF). According to the State Bank of Pakistan (SBP), following the loan from the IMF, the country’s foreign exchange reserves now stand at above $15.0431 billion. The interbank rate is the benchmark rate to determine the value of dollar and sets the direction for open market rates. Since the open market or cash market rate usually remains higher than the interbank rate, the open market is likely to follow a similar trend throughout the day. The final rates for both cash and interbank market are compiled in the evening when businesses close.

Dollar slightly moves down after yesterday’s surge

07 July, 2019 11:28 am 11:28 am

KARACHI (92 News) – The US dollar fell by Rs.85 to reach Rs159.20 in the interbank market on Wednesday as the trading is continuing for the day. The benchmark KSE-100 index increased 50 points to push up the index. On Tuesday, the US dollar rose in the interbank market, inching up by 1.04 paisa to … Read More


Inflation tsunami ready SBP increases interest rate 13.25%

Inflation tsunami ready as SBP increases interest rate to 13.25%

07 July, 2019 7:10 pm 7:10 pm

KARACHI (92 News) – The State Bank of Pakistan has increased the interest rate by 100 bps to 13.25 percent for the next two months from July 17. Addressing a press conference on Tuesday, SBP Governor Reza Baqir said that the inflation would further increase this year and the interest rate had been increased due … Read More


Qatar Pakistan first tranche UAE Saudi Arabia SBP State Bank of Pakistan

Pakistan gets first tranche of $500 million from Qatar

06 June, 2019 4:19 pm 4:19 pm

ISLAMABAD (92 News) – Pakistan on Saturday has received the first tranche of US $500 million from Qatar that will help to boost the foreign-exchange reserves of the country. According to details, the first installment of $500 million was deposited to the State Bank of Pakistan (SBP). The aid from Qatar will boost the foreign … Read More