SBP
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SBP foreign exchange reserves fall to near nine-year low
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[ad_1] In this file photo taken on April 22, 2022 US dollar coins and banknotes are seen displayed on a table, in London. — AFP The State Bank of Pakistan-held (SBP) foreign exchange reserves plummet to a near nine-year low as the cash-strapped nation made external debt repayments. The central bank released weekly data showing…
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Traders protest outside SBP against non-clearance of containers | The Express Tribune
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[ad_1] KARACHI: Traders of Karachi came out on the streets and protested outside the State Bank of Pakistan (SBP) on Thursday against the non-clearance of containers and embargo on letters of credit (LCs) due to a lack of foreign exchange in the country. On the appeal of Karachi Timber Merchants Group (KTMG) against the non-acceptance…
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Good news for businesses, SBP withdraws import restrictions from January 2
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[ad_1] The State Bank of Pakistan building in Karachi. — AFP/File The State Bank of Pakistan (SBP) Tuesday notified its decision to withdraw the restrictions placed on imports with effect from January 2, 2023to provide a relief for industries and businesses. The official circular issued in this regard read: “Attention of the authorised dealers (ADs)…
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SBP forex reserves fall to level less than 40 days of imports
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[ad_1] An undated image of a currency dealer counting $100 notes. — AFP/File The foreign exchange reserves held by the State Bank of Pakistan (SBP) plunged over $500 million to their lowest level since April 2014 during the week that ended on December 16, the central bank said on Thursday. The central bank, in its weekly…
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SBP governor assures Pakistan will pay debts ‘on time’ | The Express Tribune
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[ad_1] Governor State Bank of Pakistan (SBP) Jameel Ahmad has provided assurances that Pakistan will pay all its debts “on time” and that foreign exchange reserves are expected to increase during the second half of the financial year. In the latest episode of the SBP podcast series, governor SBP clarified that during the next seven…
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No restrictions imposed on LCs for import of crude oil, LNG: SBP
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[ad_1] An undated image of the State Bank of Pakistan building in Karachi. — AFP/File The State Bank of Pakistan (SBP) Thursday clarified that no restrictions have been imposed on the opening of Letters of Credit (LCs) or contracts for the import of crude oil, liquefied natural gas (LNG) and other petroleum products. “Such information…
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SBP governor assures Pakistan to repay $1bn bond 3 days before due date
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[ad_1] State Bank of Pakistan Governor Jameel Ahmad. — Twitter/@StateBank_Pak ISLAMABAD: State Bank of Pakistan (SBP) Governor Jameel Ahmad Friday assured that country will repay a $1 billion international bond on December 2 — three days before its due date. In a post-monetary policy briefing, Ahmad said that the bond repayment, which matures on December…
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SBP jacks up interest rate to 16% — highest since 1999
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[ad_1] The State Bank of Pakistan (SBP) building in Karachi. — AFP/File KARACHI: Contrary to market expectations, the State Bank of Pakistan (SBP) raised its key policy rate by 100 basis points to 16% — the highest level since 1999 — on Friday amid elevated inflation as the economy struggles to recover from floods that caused…
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Pakistan to repay $1b bond early: SBP governor | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan will repay a $1 billion international bond on December 2, three days before its due date, the governor of the State Bank of Pakistan (SBP) told a briefing on Friday. There has been growing uncertainty about the ability of Pakistan to meet external financing obligations with the country in the midst of…
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SBP forex reserves tick up $3m to $7.96bn
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[ad_1] In this file photo taken on April 22, 2022 US dollar coins and banknotes are seen displayed on a table, in London. — AFP/File KARACHI: State Bank of Pakistan’s (SBP) foreign exchange reserves edged up by $3 million to $7.96 billion as of November 11, 2022, data released by the central bank on Thursday…
