Tag: state bank of pakistan

  • Rs500 old currency notes to become obsolete after 30th

    SLAMABAD: The State Bank of Pakistan (SBP) has again asked the public to exchange old currency notes of Rs500 with the new one because the former will become obsolete after September 30. The SBP also reminded all the banks including micro-finance banks (MFBs) operating in the country to facilitate general public in exchanging Rs500 old…

  • Pakistan textile traders end strike

    Commodity traders in Pakistan were slightly relieved Monday after All Pakistan Textile Mills Association called off spinning industry’s strike to protest against 15% regulatory duty on the export of yarn. Strike was called off after APTMA leadership met with Prime Minister of Pakistan Syed Yousuf Raza Gilani. Declaring the end of strike, APTMA Chairman Ejaz…

  • Pakistan Recieves $5.7 Billion in Remittances

    Noting a 17 percent increase in remittances, State Bank of Pakistan Wednesday said that Non-Resident Pakistanis have send home nearly $5.7 billion between July 2009 to February 2010. During the same period in previous fiscal year, Pakistanis living abroad had sent $4.9 billion. For economies like Pakistan, funds repatriated by non-residents to family and friends…

  • Pakistan Stops Financing Crude Oil Imports

    As of yesterday State Bank of Pakistan will not sell foreign exchange to banks for financing the crude oil imports. SBP had given banks a full working week to get prepared for securing funding from the international market. The present measure has been adopted in the wake of Pakistan rupee losing 53 paisa or 0.6 per…

  • Pakistan To Swap Currency With China

    [poll id=”55″] The sources in the Pakistan Ministry of Finance told Dawn that they are considering entering into currency swap agreements with China and Malaysia for containing the declining foreign exchange reserves. According to the sources the foreign investment has declined by 25 per cent. The Ministry has already asked the State Bank to work…