Thursday , 17 January 2019

Tag Archives: SBP

PM Khan assures working on rupee value stability

Govt working on mechanism to avoid rupee devaluation: PM Prime Minister Imran Khan on Monday said the State Bank of Pakistan (SBP) did not inform the government before devaluing the rupee last week and they are now working on a mechanism to ensure this does not happen in the future. In a meeting with TV anchors and reporters in the federal capital, …

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Dollar up against Pak rupee

Rupee weakens against dollar The rupee weakened against the dollar at Rs133.93/Rs134.11 in the inter-bank market on Monday compared with Friday’s close of Rs133.88/Rs134.07, according to the State Bank of Pakistan (SBP). Last month, the rupee strengthened after Saudi Arabia agreed on a $6-billion assistance package for Pakistan. Earlier in October, a slump in the value of the rupee came …

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Customer data secure, Banks security intact

Banks say security systems intact to protect customer data Commercial banks on Wednesday said they have strengthened security systems and increased surveillance to protect their data from any potential cyber assault in the wake of a recent hacking attack on a bank. Major banks, including HBL, Faysal Bank, Bank Al Habib, Allied Bank, First Women Bank, Silk Bank, and Telenor …

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Filling reserves with “more” loans

Govt takes $450m loan to prop up sliding forex reserves Pakistan has obtained a $450-million short-term foreign commercial loan from a Credit Suisse-led consortium of banks aimed at arresting the slide in official foreign currency reserves that have depleted $4.4 billion in just one year. The consortium consists of Credit Suisse AG, United Bank Limited and Allied Bank Limited, sources …

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Currency traders being given incentives to improve dollar supply

In order to enhance the dollar supply in open currency market, the State Bank of Pakistan (SBP) on Tuesday gave the assurance that it would withdraw condition of 10 percent dollar surrendering by the Exchange Companies in the interbank market. The SBP convened a meeting of Exchange Companies to discuss the various issues particularly exchange rate. The meeting was chaired …

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Why the leading economists disagree with IMF’s Pakistan report card

The three-year programme under the IMF’s Extended Fund Facility (EFF) has now come to an end. Pakistan has received $6.1 billion loan from the IMF under this programme. During the tenure of the programme, Pakistan was required to undertake wide – ranging structural reforms and implement the type of macroeconomic policy that would restore macroeconomic stability, gradually promote economic growth …

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