A currency dealer counts US dollars at a store in Karachi. — AFP/File Deposits placed with the SBP matured in January 2025. Prime Minister Shehbaz confirmed the postponement during Tuesday’s meeting. Foreign exchange reserves amount to $16,450.9 million. The United Arab Emirates (UAE) has confirmed the refinancing of its two deposits of $1 billion each, … Read more
State Bank of Pakistan Governor Jameel Ahmad speaking at an event organized by the Federation of Pakistan Chambers of Commerce and Industry in Karachi on January 9, 2025. — Screenshot/GeoNews The head of the SBP expresses his hope for greater stability in the economy. Jameel says SBP is dedicated to achieving its inflation targets. He … Read more
SBP Governor Jameel Ahmad addresses a press conference in this undated photo. — AFP/File Ahmed says the country’s actual external debt stands at over $100.08 billion. “Controlling external accounts to pave the way for economic growth.” The SBP governor expects remittances to exceed $35 billion this year. KARACHI: State Bank of Pakistan (SBP) Governor Jameel … Read more
A person pays with their cellphone with the instant electronic payment method at a store on April 1, 2024. — Reuters The share of digital payments in Q4FY24 increased to 27%. Retail transactions witness an 8% increase in volume in Q1FY25. 251 million (13%) transactions processed via OTC channels. KARACHI: Amid the government’s relentless efforts … Read more
An active broker under surveillance at the PSX on November 28, 2024. — INP The capital market extended its upward trajectory on Tuesday, exceeding the 117,000 point mark for the first time. Investor optimism remained strong, supported by the State Bank of Pakistan’s (SBP) policy rate cut yesterday, improving macroeconomic indicators and expectations of a … Read more
Jameel Ahmad, Governor of the State Bank of Pakistan. — X/@StateBank_Pak Ahmed says risk factors have persisted despite the decline in headline inflation. The addition of a future rise in inflation would not be a cause for concern. “It will take 4 to 6 quarters to see the full impact of the key rate changes.” … Read more
A logo of the State Bank of Pakistan (SBP) is pictured on a reception desk at its headquarters in Karachi, Pakistan, July 16, 2019. — Reuters SBP cuts policy rate to 13% in today’s meeting. The consumer price index for November stood at 4.9%. This brings total cuts to 900 basis points since June. and … Read more
A worker walks past the headquarters of the Asian Development Bank (ADB) in this file photo. -Reuters Influx to help increase the country’s import coverage and stabilize the rupee. Aims to foster Pakistan’s perseverance in the face of disasters. The SBP’s foreign exchange reserves stood at $11.42 billion as of November 22. The central bank … Read more
This photo shows both sides of a Rs55 commemorative coin issued by the SBP on the 555th Jayanti of Guru Nanak Dev Ji. —SBP The State Bank of Pakistan on Friday issued a commemorative coin to mark the 555th Jayanti (birth anniversary) of Guru Nanak Dev Ji, the founder of the Sikh religion. Nanak’s birth … Read more