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SBP prepones meeting to hike key policy rate | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) on Tuesday preponed its meeting to Thursday regarding the matter of hiking up its key policy rate by 100-200 basis points on the recommendation of the International Monetary Fund (IMF). The policy rate currently stands at a 24-year high of 17%. The central bank, through its Twitter handle,…
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Govt agrees to increase interest rate by 200bps | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has accepted another pre-condition of the International Monetary Fund (IMF) for the release of $1.1 billion critical funding – a part of $6.5 billion bailout package – as the government agreed to increase the policy (interest) rate which stands at 17% by two per cent or 200 basis point. The increase is…
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Pakistan ‘agrees’ to raise policy rate by 2% under IMF pressure
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[ad_1] The International Monetary Fund’s building. — AFP/File As the economic crisis in Pakistan worsens with depleting foreign currency reserves barely enough to pay for three weeks worth of imports, the country agreed on Saturday before the International Monetary Fund (IMF) to increase the policy rate by 2% — one of the conditions to secure…
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Gold rate rises in Pakistan despite recovery in rupee
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[ad_1] An undated image of a customer looking at the gold bangles at a store. — AFP/File Gold regained lost ground on Thursday, as bargain hunting trickled in after prices dropped a day earlier in response to the continued recovery of the Pakistani rupee against the US dollar. Data released by the All-Pakistan Sarafa Gems…
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Gold rate increases by Rs2,800 per tola in Pakistan
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[ad_1] An undated image of gold jewellery displayed at a store. — AFP/File As bargain hunting trickled in after rates dropped a day earlier in response to the continued recovery of the rupee against the US dollar, gold regained lost ground on Saturday. According to data released by the All-Pakistan Sarafa Gems and Jewellers Association…
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Currency dealers remove cap on dollar-rupee exchange rate | The Express Tribune
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[ad_1] KARACHI: The currency dealers have unanimously decided to stop artificially keeping rupee overvalued against US dollar in open market and let the rupee-dollar exchange rate depreciate to its actual value. Speculations suggest rupee could gradually devalue to the level of black currency market in a couple of days. The domestic currency was available at…
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SBP raises key interest rate to 25-year high of 17%
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[ad_1] State Bank of Pakistan Governor Jameel Ahmad addresses a press conference in Karachi on January 23, 2023. — AFP KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) Monday raised the key interest rate by 100 basis points (bps), taking it to 17% — the highest since October 1997. In…
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Monetary policy: SBP likely to raise interest rate today
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[ad_1] A representational image of the State Bank of Pakistan (SBP) building. — AFP/File The State Bank of Pakistan (SBP) is scheduled to meet today (January 23) to assess developments on the economic front and announce its monetary policy for the next seven weeks. Conflicting movements in economic indicators suggest the worst is not yet…
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SBP set to raise policy rate to rein in inflation | The Express Tribune
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[ad_1] KARACHI: Pakistan’s central bank is highly expected to jack up its key policy rate by 100 basis points (bps) to 17% at the monetary policy review on Monday (Jan 23) ahead of the revival of International Monetary Fund (IMF) loan programme. “Implementation of the loan programme is feared to push inflation reading to multi-decade…
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Price hike: Gold rate climbs to Rs178,800 per tola in Pakistan
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[ad_1] A photo of a jewellery shop in Kerala, India. — AFP/File Gold and silver prices jumped to new highs in Pakistan on Tuesday as the rupee lost further ground against the US dollar, prompted by a liquidity crunch that has forced an increase in safe-haven buying. According to All Pakistan Sarafa Gems and Jewellers Association, price…
