Tag: StateBankOfPakistan
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Pakistan’s Imports from China decrease 11.30% in 11 months
Pakistan’s imports from China have decreased by 11.30% in 11 months.
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SBP cuts the interest rate to 7 per cent
KARACHI: The State Bank of Pakistan (SBP) announced it had slashed the policy rate by 100 base points to bring the interest rate down to 7%. According to a tweet by the SBP’s official Twitter account, the decision had been taken by the Monetary Policy Committee that met today under the chairmanship of Governor, Dr…
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Pakistan Remittance Initiative Allows Remittances from 200 Countries with JS Bank
Press Release, Karachi, June 3, 2020: Launched to facilitate secure, cheap and rapid remittances by overseas Pakistani’s, the Pakistan Remittance Initiative (PRI) is a joint initiative of the State Bank of Pakistan, Ministry of Overseas Pakistanis and Ministry of Finance. Remittances play a crucial role in Pakistan’s economy, providing a much-needed inflow of dollars to…
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SBP cuts down interest rates by another one per cent
The State Bank of Pakistan (SBP) has issued a monetary policy under which it has decided to reduce interest rates by another one per cent. After a 1% cut, the interest rate has come down to 8%. Interest rates have been cut by 5.25% in the last two months. According to the SBP, the inflation rate…
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The Dollar Rate Increases Yet Again
Karachi, 7th May: The US Dollar has risen 25 paise against the rupee during the fourth trading day of the week across the country. The dollar started trading at Rs 160.30 on the interbank market today. According to the details, Pakistan has been witnessing fluctuations in the US currency in the last few days. After…
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SBP sets ‘Nisab for Zakat’ at Rs 46,329 for Ramazan 2020
State Bank of Pakistan (SBP) has announced that the federal government has set the ‘Nisab for Zakat’ at Rs 46,329. According to a notification, “No deduction of Zakat at source shall be made in case the amount standing to the credit of an account is less than Rs46,329 on the first day of Ramzan ul…
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Coronavirus: SBP to disinfect and quarantine currency notes
Lahore, 26th March: The State Bank of Pakistan has issued instructions to all the banks in the country to keep the currency notes in quarantine, after the spike in the coronavirus cases in Pakistan. According to the reports of Baaghi TV, State Bank has issued orders to keep the currency notes in isolation to control…
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Rupee slips slightly against dollar in interbank
ISLAMABAD, Feb 10 (APP): The exchange rate of Pakistani rupee against US dollar decreased by 03 paisas to close at Rs 154.43 on Monday against the last day’s trading of Rs 154.40, State Bank of Pakistan (SBP) reported. In the open market, the buying and selling rates of Pakistani rupee against dollar stood at Rs…
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Rupee strengthens against dollar in interbank
ISLAMABAD, Feb 7 (APP): The exchange rate of Pakistani rupee against US dollar increased by 09 paisas to close at Rs154.40 on Friday against the last day’s trading of Rs 154.49, State Bank of Pakistan (SBP) reported. In the open market, the buying and selling rates of Pakistani rupee against dollar stood at Rs 154.2…
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Dollar gains 05 paisa in interbank
ISLAMABAD, Jan 07 (APP): The exchange rate of US dollar against Pakistani rupee gained Rs 0.07 in interbank on Tuesday and was traded at Rs 155 against Rs 154.95 of last trading day, State Bank of Pakistan (SBP) reported. The SBP further reported that in interbank the price of Euro appreciated by Rs 0.09 and…