Saudi development fund renews $3 billion deposit for Pakistan
WEB DESK: The Saudi Development Fund has extended the 3 billion dollar deposit for another year, according to the State Bank of Pakistan the term of the dollar deposit was expiring today. According to the State Bank, the third expansion of the 3 billion dollar deposit received in 2021 is
Pakistan’s liquid foreign reserves surge to $16.62 billion
KARACHI: Pakistan’s total liquid foreign exchange reserves reached $16,620 million as of November 29, 2024, including the net foreign reserves of $4,581.7 million held by the commercial banks. Foreign reserves held by the central bank this year stood at $13,996.3, data released by the State Bank of Pakistan (SBP) revealed
Deadline for Hajj applications may extend due to low submissions
The deadline for Hajj applications is likely to be extended, according to various media reports.
Pakistan receives $500 million ADB loan to tackle climate change crisis
ISLAMABAD: The State Bank of Pakistan has received a $500 million loan from the Asian Development Bank, a statement said. According to SBP, this amount will be added to the foreign exchange hold next week. “This amount is being given by the ADB to deal with the effects of climate
Govt raises above-target amount in PIBs auction
ISLAMABAD: The Government of Pakistan raised above the target amount through the auction of Pakistan Investment Bonds (PIBs). As per data released by the central bank, the government raised Rs 350 billion in the auction. The State Bank says that the target of the auction was to sell PIBs worth
Pakistan’s remittance surge 35 per cent in first four months of FY25
KARACHI: The latest statistics from the State Bank of Pakistan (SBP), issued on Friday, show that remittances by expatriate Pakistani laborers rose by 34.7 per cent in the first four months of the current financial year 2025, hitting $11.8 billion as opposed to $8.8 billion during the same interval last
SBP reserves rise by $18 million, reaching $11.17 billion
The State Bank of Pakistan’s foreign exchange reserves have risen by $18 million, reaching a 30-month high. on Thursday. The State Bank of Pakistan has released the weekly data of foreign exchange reserves, according to which reserves have reached a 30-month high. According to the State Bank, the dollar reserves
State Bank of Pakistan cut its key policy rate
The State Bank of Pakistan (SBP) has announced a cut to its key policy rate by 250 basis after inflation dropped to single digit. “At its meeting today, the Monetary Policy Committee (MPC) decided to cut the policy rate by 250 basispoints to 15 percent, effective from November 5, 2024″,
‘Sell their own flats’: Sheikh Rashid criticises PML-N over PIA privatisation
Former Federal Minister Sheikh Rashid Ahmed, speaking outside an anti-terrorism court in Rawalpindi on Monday, criticized the government for selling Pakistan International Airlines (PIA) and said, "The leaders should sell their own flats instead of national institutions."
PKR dips against USD
Pakistani rupee marginally depreciates on Thursday against the US dollar in the interbank market. According to the data released by the State Bank of Pakistan on Thursday, after a slight increase of 6 paise, the dollar has increased from Rs277.79 to Rs277.85 at the end of business on Thursday. The
