Alarming: Foreign exchange reserves plunge to lowest since 2019
With the current foreign exchange reserves position, Pakistan has an import cover of less than one month. Alarming: Foreign exchange…
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AIIB credits SBP account with $500m, Dar confirms
ADB’s financing will provide the fiscal space needed for the government to implement its countercyclical development expenditure package. AIIB credits…
Gold price jumps over 1% in Pakisan
Gold is considered a hedge against higher inflation and a safe store of value in times of uncertainty. Gold price…
SBP hikes policy rate by 100bps to 16pc
Amid the on-going economic slowdown, inflation is increasingly being driven by persistent global and domestic supply shocks that are raising…
SBP’s reserves fall by $134m to $7.8bn
SBP-held foreign exchange reserves fall 1.7%. SBP’s reserves fall by $134m to $7.8bn. Pakistan’s foreign exchange reserves held by the…
Current account deficit shrinks 37% to $2.2bn in first quarter of FY23
Decline in petroleum imports main reason behind decrease. Current account deficit shrinks 37% to $2.2bn in first quarter of FY23….
SBP maintains policy rate at 15pc
Higher food prices could raise average headline inflation in FY23. SBP maintains policy rate at 15pc. The State Bank of…
Commemorative Rs75 banknote available for public
The central bank had revealed the design of the banknote during a ceremony. Commemorative Rs75 banknote available for public. The…
SBP modifies foreign exchange regime
Move aims to promote documentation in forex transactions, encourage public to use banking channels. SBP modifies foreign exchange regime. The…
Pakistan’s current account deficit shrinks by 42% to $703m
SBP cites $0.5b increase in exports; contraction in imports by $0.2b as main reasons. Pakistan’s current account deficit shrinks by…