Saudi Arabia ready to invest more in Pakistan amid currency crisis
Saudi Crown Prince Mohammad Bin Salman instructs studying investment increase to reach $10b, deposits to $5b. Saudi Arabia ready to…
State Bank of Pakistan
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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…
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…
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…