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Sri Lanka gets $500m South Korean loan

COLOMBO: Sri Lanka said Monday it had secured a $500 million loan from South Korea, a month after a similar loan ...

Published 11 May, 2021 04:39am

Business & Finance

Foreign exchange reserves rise to $3.2trn

BEIJING: China’s foreign exchange reserves, the world’s largest, increased in April from a month earlier,...

Published 08 May, 2021 03:30am

Markets

YOUR RUPEE LAST MONTH

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last month. (April 1 to 30,...

Published 02 May, 2021 03:23am

BR Research

Current account: will the march continue?

Another month of current account (almost) in balance. Based on PBS trade data, market had expected a deficit of over...

Published 26 Apr, 2021 07:25am

Markets

China says increased flexibility in yuan can release market pressure

The yuan briefly firmed to its strongest level against the US dollar in nearly six weeks on Thursday as the greenback weakened.

Published 23 Apr, 2021 11:25am

Business & Finance

SBP’s reserves down by $63m

KARACHI: The State Bank of Pakistan’s foreign exchange reserves decreased by $ 63 million during last week due to...

Updated 23 Apr, 2021 10:01am

BR Research

Weak economy + Covid: a double whammy for FDI

While the situation at external front has been improving, the foreign direct investment climate is dreary as usual....

Published 22 Apr, 2021 07:30am

Business & Finance

President for modernizing dairy sector

ISLAMABAD: President Dr Arif Alvi on Monday emphasized that strengthening and developing the country’s dairy ...

Updated 20 Apr, 2021 10:03am

Print

July-March remittances up 26pc YoY

KARACHI: Workers’ remittance sent by overseas Pakistanis rose by 26 percent during the first nine months of this...

Updated 13 Apr, 2021 09:29am

Print

Sri Lanka gets emergency China loan

COLOMBO: Sri Lanka secured a $500 million loan from China Monday in a desperate bid to shore up its foreign exchange...

Updated 13 Apr, 2021 09:30am

Print

IMF estimates financing needs at $23.643bn

ISLAMABAD: The International Monetary Fund (IMF) has urged all key bilateral creditors to maintain their exposure to...

Updated 09 Apr, 2021 09:25am

Business & Finance

Remittances: SBP invites views on revision of FE manual

KARACHI: Considering the market dynamics and keeping pace with changing business environment, the SBP is in the...

Published 06 Apr, 2021 04:23am

Markets

Your rupee last week

KARACHI: Following currency fluctuations took place in foreign exchange rates

Published 05 Apr, 2021 03:56am

Business & Finance

Russia seen increasing state FX buying

MOSCOW: Russia’s finance ministry is expected to increase its purchases of foreign currency for state reserves to...

Published 03 Apr, 2021 03:41am

Business & Finance

SBP launches a FX Portal for end-to-end digitalization of FX requests

The State Bank of Pakistan (SBP) has launched a Foreign Exchange (FX) Portal for end-to-end digitalization of FX requests.
Currently, customers of 22 banks can submit their cases digitally from their workplace.

Published 27 Mar, 2021 06:21pm

Pakistan

State Bank advises all banks to implement digital portals

It has further been advised that banks must make comprehensive arrangements for any contingency and ensure business continuity in case of disruption in their portals.

Published 16 Mar, 2021 07:27pm

Business & Finance

Paper-based submission of FX related cases to discontinue by June 30: SBP

In this backdrop, 21 ADs have already developed their portals, started onboarding their customers and receiving FX cases digitally, while the rest are in process of developing their digital platforms/ portals.

Updated 16 Mar, 2021 04:34pm

Business & Finance

India's Foreign Exchange reserves becomes world's 4th largest

As per the data of the Reserve Bank of India, the country's FX reserves stood at $ 580.299 billion as of March 05, 2021, dropping by $ 4.255bn.

Published 15 Mar, 2021 10:24am

Markets

Barclays bid rates and maximum rates for payment of interest

KARACHI: Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than...

Published 13 Mar, 2021 04:28am

Opinion

FDI: under-developed, developing economies

A report in press based on facts that during the current period the amount of dividend remitted out of Pakistan on...

Published 03 Mar, 2021 05:49am

Markets

Nigeria naira hits record intra-day low of 429.75 per dollar

The naira opened for trade at 409.50 on Wednesday, exchange data showed, near its weakest on record of 410.50 per dollar reached two weeks ago.
The naira has been quoted at 480 naira to the dollar on the black market since last month, against the official rate of 381 naira set in July and backed by the central bank.

Published 24 Feb, 2021 07:27pm

Business & Finance

SBP initiates foreign exchange digitization

Mohammad Ashraf Khan, Managing Director, SBP Banking Services Corporation, said that the payment would be transparent and online.

Published 17 Feb, 2021 10:24am

Business & Finance

Raiffeisen Bank International buys FX, payment provider Akcenta

RBI said it plans to acquire 70% of Akcenta and its Czech subsidiary would buy the remaining 30%.
RBI, which did not say how much it agreed to pay, expects the acquisition to be closed by end of May.

Published 15 Feb, 2021 05:52pm

Markets

Your rupee last week

KARACHI: Following currency fluctuations took place in foreign exchange rates during the last week. (February 8 to...

Published 15 Feb, 2021 04:53am

Opinion

Liberalizing foreign exchange regime

One important factor in facilitating foreign capital (investment) inflow into the country is to allow it to move out...

Published 14 Feb, 2021 03:49am

Business & Finance

SBP’s reserves down by $82m

KARACHI: Total liquid foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $82 million to...

Updated 12 Feb, 2021 11:46pm

Editorials

Start-ups gain traction

EDITORIAL: In modern tech world, new businesses are growing in a shape which is vastly different from the...

Published 12 Feb, 2021 04:54am

Print

Startups, fintechs and exports: SBP notifies revisions in chapter 20 of FE Manual

KARACHI: The State Bank of Pakistan (SBP) has notified revisions in chapter 20 of the Foreign Exchange Manual to...

Published 11 Feb, 2021 04:34am

Business & Finance

SBP Modernizes Foreign Exchange Regulations to facilitate Startups, Fintechs & Exports

The State Bank of Pakistan (SBP) has notified revisions in chapter 20 of the Foreign Exchange Manual to modernize foreign exchange regulations for facilitating startups, fintechs and exports in Pakistan.

Updated 10 Feb, 2021 09:56pm

Print

Amendment to FE Manual proposed: SBP seeks to facilitate startups to raise convertible debt

KARACHI: The State Bank of Pakistan (SBP) has proposed amendment to the Foreign Exchange Manual to facilitate the...

Updated 10 Feb, 2021 09:39am