SBP’s reserves drop to $4.2 billion
The State Bank of Pakistan (SBP)-held foreign exchange reserves dropped to $4.2 billion as state failed to secure external financing. In its bulletin, the SBP said its reserves had fallen $119 million.
SBP foreign reserves decline
Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $170 million in the week ending on April 7 owing to external debt repayments, data released by the central.
SBP-held forex reserves maintain uptrend
The central bank said that its foreign exchange reserves increased by $280 million to $4.6 billion as of the week ended March 17. The net forex reserves held by commercial banks stand.
SBP reserves swell after $700m injection by China
Karachi: Pakistan on Friday received a new $700 million loan from China to help shore up its foreign exchange reserves. The credit facility, made through the state-owned China Development Bank boosted Pakistan’s.
SBP-held forex reserves fall below $3 billion
On Thursday, State Bank of Pakistan (SBP)-held foreign exchange reserves fell below $3 billion to a nine-year low. In a statement, the central bank said that as of the week ended on.
SBP foreign reserves reach $4.6 billion
Islamabad: According to data released by the State Bank of Pakistan (SBP), foreign exchange reserves increased by $258 million to $4.6 billion. The country’s total liquid foreign reserves were $10.44 billion of.
SBP-held reserves plummet below $4.5bn
Pakistan’s central bank forex reserves have plunged to the lowest level since February 2014 after a decline of 22.11%. It has posed a serious challenge for the country in financing imports. The.
Foreign Reserves fall to the lowest since 2014
The State Bank of Pakistan’s (SBP) foreign currency reserves dropped to the lowest since April 2014, central bank figures showed on Thursday. In a statement, the central bank said that the foreign.
Saudi Arabia extends term of loan
On Friday, the State Bank of Pakistan (SBP) announced that Saudi Arabia extended the term for the $3 billion deposited with the central bank. “Implementing the directives of the Custodian of the.
Jameel Ahmad appointed as SBP’s new governor
Karachi: The federal government on Friday appointed Jameel Ahmad as the new governor of the State Bank of Pakistan (SBP). He was previously the central bank’s deputy governor. “In exercise of powers.
Rupee depreciates once again
Karachi: The State Bank of Pakistan (SBP) on Tuesday reversed its uptrend as the local currency lost Rs2.38 due to renewed uncertainty regarding the renewal of the International Monetary Fund (IMF) programme..
State Bank of Pakistan receives $1.05 billion from IMF
Karachi: On Feb 4, the central bank announced that Pakistan received $1.05 billion from the International Monetary Fund (IMF) following the successful conclusion of the sixth review of the External Fund Facility.
‘Pakistan can ride out rising external account pressure’: Governor SBP
State Bank Governor Dr. Reza Baqir said that he believed the country had the capacity and financial cushion to ride out rising external account pressures. The pressure is being ridden by a.
Ex-SBP governor Ishrat Hussain expresses reservation on SBP
Dr Ishrat Hussain, the former governor of the State Bank of Pakistan, has expressed doubts about the law giving the central bank authority.
Shaukat Tarin, the Federal Minister of Finance, introduced the SBP.
Govt to ensure legislation about SBP’s autonomy
On November 22, Shaukat Tarin, Adviser to the Prime Minister on Finance said that the government would assure that the legislation regarding the State Bank of Pakistan’s (SBP’s) autonomy was passed, as.
SBP increases interest rate by 150 bps to 8.75 %
On Friday, The State Bank of Pakistan (SBP) raised its benchmark interest rate by 150 basis points to 8.75 % as it controls surging inflation and uncertainty over the stalled International Monetary.
Govt. trapped into accepting SBP bill
According to individuals familiar with the situation, some Pakistani negotiators convinced the government that accepting a controversial draft of the State Bank of Pakistan (SBP) reform bill would result in the revival.
SBP injects $1.2 billion to defend declining rupee
The State Bank of Pakistan injected $1.2 billion to defend a sinking rupee, according to a new World Bank assessment, and the government’s determination to apply regulatory penalties will not alleviate the.
SBP governor: Negotiations with IMF moving forward positively
Pakistan’s talks with the International Monetary Fund (IMF) are progressing well, according to Governor of the State Bank of Pakistan (SBP) Reza Baqir.
He was speaking to Pakistanis living abroad on Tuesday at.
Pakistan current account deficit falls to $1.11 billion
According to the State Bank of Pakistan (SBP), Pakistan’s current account deficit shrank to $1.113 billion in September from $1.473 billion in August.
In September 2020, the current account balance was $30 million.
SBP to ease limitations for renewable energy solution providers
On Monday, SBP has announced that it has eased the restrictions for renewable energy solution providers under its Refinance Scheme for Renewable Energy to heighten investment in the renewable energy sector. It.
SBP: Biometric Verification necessary for buying $500 or more
The State Bank of Pakistan (SBP) has put another another limitation on buying dollars on the open market, requiring biometric verification for all persons purchasing $500 or more. The dollar, on the.
SBP makes steps to reduce unfavorable foreign currency outflows
The State Bank of Pakistan has implemented the following regulatory measures:
Travelers to Afghanistan will be permitted to bring just USD1,000/- per person each visit. The yearly maximum is.
SBP raises basic points by 25
On Monday, SBP has announced a raise in basic points by 25 in the benchmark policy rate leading to 7.5% for the following two months. The plan will be effective from October.