According to the National Savings Department, the profit rate for savings accounts has been reduced from 16% to 13.5%, representing a decline of 250 basis points. This adjustment aligns with the overall revision of interest rates for certain savings schemes. In addition to the changes in savings account rates, the profit rates for regular income […]
The State Bank of Pakistan in a statement said that “the total foreign reserves of Pakistan surged to US$16.62 billion supported by recent Asian Development Bank (ADB) loan transfer, while the SBP reserves crossed $12 billion as of November 29, 2024.” According to the SBP, the total liquid foreign exchange reserves held by the central […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.50 and Rs 279.00 respectively. The price of the Euro increased by 85 paise to close at Rs 292.98 against the last day’s closing of Rs 292.13, according to the State […]
According to details, the funds will be used to establish stable aviation fuel reserves in the country. A private aviation fuel storage facility is planned to be set up in Sheikhupura, Punjab. The loan falls under the climate support framework aimed at financing infrastructure projects. The initiative is expected to reduce carbon emissions in the […]
According to sources, the price of high-speed diesel has increased by Rs 12.14 per liter since October 16, while the price of petrol has risen by Rs 5.07 per liter during the same period. The government has increased the price of high-speed diesel three times and petrol twice over the past month and a half. […]
Moreover, as per the live rates provided on the Binance website, the Bitcoin to US dollar rate today is $98,760.09 as of 10:31 AM PST. Bitcoin has experienced major increases since the United States elected Donald Trump as president, as investors anticipate that the new administration will implement more favorable policies for cryptocurrencies. It is […]
Bitcoin has jumped more than double in value this year and is up about 40% in the two weeks since Trump was elected as the next president of the US. Bitcoin to US Dollar Rate Today According to the Binance website’s live rates, the value of Bitcoin stands at $98,960.95 till 11:00 am PST. Bitcoin […]
The data showed that the inflows of remittances during October were recorded at US$ 204 million as compared to US$ 168 million in September and US$ 165 million in August 2024, according to the latest data released by the State Bank of Pakistan (SBP). These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis […]
Pakistan’s current account has posted a surplus for the third consecutive month driven by robust growth in remittances and exports. The current account posted a deficit of $287 million in October 2023, the SBP reported. In the first four months of the previous fiscal year, the current account deficit stood at $1.528 billion, highlighting a […]
The decision was taken in a Monetary Policy Committee (MPC) meeting of the central bank chaired by SBP Governor Jameel Ahmad. “At its meeting today, the Monetary Policy Committee (MPC) decided to cut the policy rate by 250 basis points to 15 percent, effective from November 5, 2024. The Committee noted that inflation has declined […]
