The index gained 851.11 points, or 0.98%, to reach 88,045.64 points. According to Mohammed Sohail, CEO of Topline Securities, the rally was driven by local investors aggressively buying shares amid falling bond yields and expectations of a substantial cut in the monetary policy rate. “The locals are buying aggressively due to falling bond yields and […]
“SBP has cut its benchmark interest rate for three consecutive meetings by 450 basis points to 17.5 percent from a record 22 percent. The next meeting on Nov 4 may see the central bank reduce the policy rate, Muhammad Aurangzeb in an interview with Bloomberg in Washington on the sidelines of the IMF meeting. Pakistan’s […]
According to a statement issued by the central bank, total liquid foreign reserves held by the country stood at $16.11 billion. Net foreign reserves held by commercial banks stood at $5.09 billion. “During the week ended on 11-Oct-2024, SBP reserves increased by US$ 215 million to US$ 11,022.7 million,” it said. The central bank did […]
The e-banking attracted more customers due to its efficient and instant payment solutions, and its transactions have grown at a steady pace over the years. According to the State Bank of Pakistan’s (SBP) annual review of the payment system, Pakistan witnessed a notable rise in digital payments. The increase in trending has raised the digital […]
In a statement issued here, the central bank said that in terms of growth during September 2024, remittances increased by29 percent on a year-on-year basis “Remittances inflows during July 2024 were mainly sourced from Saudi Arabia (US$681.3 million), United Arab Emirates (US$560.3 million), United Kingdom (US$ 423.6 million), and, the United States of America (US$274.9 […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 278.50 and Rs 280 respectively. The price of the Euro decreased by Rs1.32 to close at Rs 307.31 against the last day’s closing of Rs 308.63, according to the State Bank […]
The move has been taken after an unprecedented Rs3.4 trillion profit by the State Bank of Pakistan (SBP) due to a record-high 22pc interest rate, which has now dropped to 16%. According to a notification issued by the Debt Management Office (DMO) of the Ministry of Finance, Pakistan, the scope of the Government Securities Buyback […]
According to data shared by the central bank, Pakistan’s total foreign exchange reserves stood at US$ 14—82 billion as of September 13. Meanwhile, the country’s net foreign reserves held by commercial banks stood at US$5.31 billion. “During the week ended on 13-Sep-2024, SBP reserves increased by US$ 43 million to US$ 9,509.6 million,” the statement […]
The local unit (PKR) appreciated by 10 paisa against the US dollar (USD) and closed at Rs 278.16 against the previous day’s closing of Rs 278.44. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.00 and Rs 280.85 respectively. […]
According to the statistics, exports to the United States in July this year stood at 476.017 million dollars, which is 7.26 percent higher than the same period last year. The exports to the UAE witnessed an increase of 7.74 percent. Similarly, the exports to Britain and China stood at 183.303 million dollars and 160.100 million […]
