Rupee falls in open market after exchange cap removal
Dollar closes at 243 in open market. Interbank sees meagre change. Rupee falls in open market after exchange cap removal….
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State Bank withdraws condition of prior approval for imports
SBP directs banks to prioritise import of certain essential items. State Bank withdraws condition of prior approval for imports. The…
Govt raises Naya Pakistan Certificate’s markup rates for foreign investments
Rate of return is now 7% for 3-month investments of $1,000. Govt raises Naya Pakistan Certificate’s markup rates for foreign…
FDI shrinks by 59% to $461m in first six months of FY 2023
Investment in power sector falls to $237 million from $345 million. FDI shrinks by 59% to $461m in first six…
Illegal channels: Pakistan’s remittances fall 19% to $2bn in Dec
Remittances decline 11% to $14.052 billion in first half of FY23. Illegal channels: Pakistan’s remittances fall 19% to $2bn in…
Commercial banks refuse to issue letters of credit to edible oil importers
Edible oil importers, ghee manufacturers told their LoCs can’t be opened at interbank exchange rates. Commercial banks refuse to issue…
Markup rates for export financing raised to 13%
SBP raises export financing markup rates by 200 basis points. Markup rates for export financing raised to 13%. The State…
New Currency Notes with Governor Jameel Ahmad’s Signature to be Issued from Today: SBP
Jameel Ahmad was appointed SBP governor on August 19. New currency notes with Governor Jameel Ahmad’s signature to be issued…
Pakistan’s current account deficit plunges 86% to 19-month low
Pakistan posted deficit of $276 million in November, SBP data shows. Pakistan’s current account deficit plunges 86% to 19-month low….
Pakistan’s remittances drop 14% to $2.1bn in November
Receipts contract by 4.8% in Nov compared to Oct 2022. Pakistan’s remittances drop 14% to $2.1bn in November. Remittances sent…