Tag Archives: SBP

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

SBP State Bank Of pakistan prize bond State bank of pakistan FBR Federal Board of Revenue

SBP directs to ban sale of Rs40,000 Prize Bond

06 June, 2019 3:34 pm 3:34 pm

Karachi (92 News) – The State Bank of Pakistan (SBP) has directed all the banks to ban the sale of unregistered Rs40,000 Prize Bonds from today (Tuesday, June 24). The expiry date for enchantments of these bonds is March 31, 2020 after that the bonds will become useless since they would no longer be included … Read More

SBP BPS policy rate state bank of pakistan

SBP increases policy rate by 150 bps to 12.25% effective from tomorrow

05 May, 2019 5:56 pm 5:56 pm

KARACHI (92 News) – State Bank of Pakistan has increased the policy rate by 150 basis points to 12.25 per cent on Monday (today). In a statement issued after the meeting of Monetary Policy Committee in Karachi today, the central bank said the new rate will be in effect from tomorrow. It said that economic … Read More

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IMF, WB officials appointed as SBP governors in past: Iftikhar Durrani

05 May, 2019 12:03 am 12:03 am

ISLAMABAD (92 News) – Responding to the statement of PPP Chairman Bilawal Bhutto, Special Assistant to Prime Minister on Media Iftikhar Durrani on Wednesday said that the officials from World Bank (WB) or the International Monetary Fund (IMF) had been appointed as the governor State Bank of Pakistan (SBP) in the past. “It was not … Read More

IMF, employee, appointment, SBP, governor, big mistake, Asif Zardari

IMF employee’s appointment as SBP governor is a big mistake: Asif Zardari

05 May, 2019 3:04 pm 3:04 pm

ISLAMABAD (92 News) – PPP co-chairman Asif Zardari has said that the appointment of an employee of the International Monetary Fund (IMF) as State Bank of Pakistan (SBP) governor is a big mistake. Talking to the media on Wednesday, he said that technocrats do not belong to anyone. He said that the PPP would launch … Read More

Bilawal Bhutto, PM Imran Khan, control, tongue

PPP decides to strongly oppose appointment of Dr Reza Baqir

05 May, 2019 9:49 pm 9:49 pm

ISLAMABAD (92 News) – The Pakistan Peoples’ Party PPP has decided to strongly oppose the appointment of Dr Reza Baqir as Governor State Bank of Pakistan (SBP). Speaking to the journalists in the parliament house on Monday, PPP Chairman Bilawal Bhutto Zardari said, “The government has lack of leadership. It seems the government is compromising … Read More

Finance, Minister, Asad Umar, decides, quit

Pakistan has decided principle to start IMF mission: Asad Umar

04 April, 2019 9:29 am 9:29 am

WASHINGTON (92 News) – Minister for Finance Asad Umar said that Pakistan has decided in principle to start IMF mission and the decision has been taken in the best interest of national economy. Speaking to the journalists in US, the minister said that the programme with the International Monetary Fund (IMF) would soon be completed … Read More

Dollar, continues, soar, touches, all-time high, Rs153, interbank

Dollar rate rises by 26 paisas in interbank market

04 April, 2019 8:59 pm 8:59 pm

KARACHI (92 News) – Dollar rate in interbank market increased by 26 paisas and it was trading at Rs141.35 in the inter-bank market on Wednesday. The rupee’s value is dropping against the US dollar, as it hits highest level of Rs141.35 today after surge of 26 paisas in the inter-bank market. The experts had predicted … Read More

Pakistan China 2.1 billion $2.1 billion State Bank of Pakistan SBP Dr Khaqan Najeeb Finance MInistry Finance Ministry Spokesperson BoP

Pakistan receives $2.1 billion from China

03 March, 2019 5:40 pm 5:40 pm

ISLAMABAD (92 News) – Pakistan on Monday received 2.1 billion US dollar from China, which would ensure balance of payment stability. In a tweet, Finance Ministry’s Spokesman Dr Khaqan Najeeb confirmed that China deposited worth of RMB 15Bn equiv to $2.1Bn received in State Bank of Pakistan (SBP). “Deposit of RMB 15Bn equiv. to $2.1Bn … Read More

SBP, interest rate, 25 bps, 10.25%

SBP increases interest rate by 25 bps, fixes it at 10.25%

01 January, 2019 6:47 pm 6:47 pm

ISLAMABAD (92 News) – The State Bank of Pakistan (SBP) has announced a 25 basis point increase in the interest rate, taking it to 10.25 percent with effect from February 1 as part of its new monetary policy. This was stated by the SBP Governor Tariq Bajwa while announcing the new monetary policy at a … Read More

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PM reviews Naya Pakistan Housing Program

01 January, 2019 9:36 am 9:36 am

ISLAMABAD (92 News) – Prime Minister Imran Khan has reviewed all the key progress in Naya Pakistan Housing Program. The prime minister chaired a meeting to review Naya Pakistan Housing Program. He directed to provide all possible assistance and facilities to the low income people in the realization of their dream of having their own … Read More

ECC allows export of 100,000 tons of sugar

12 December, 2018 5:46 pm 5:46 pm

ISLAMABAD (92 News) – The Economic Coordination Committee (ECC) on Tuesday allowed the export of 100,000 tons of sugar. Addressing the South Asia summit, Finance Minister Asad Umar said that the meeting had decided to start the crushing season early and help of the provinces will be sought in this regard. He said that they … Read More