SBP to announce new Financial Coverage on July 16

KARACHI: The State Financial institution of Pakistan (SBP) will announce its new financial coverage on July 16 (Tuesday), ARY Information reported on Friday.

The Financial Coverage Committee of SBP is scheduled to satisfy on Tuesday at SBP Head Workplace Karachi to determine about Financial Coverage, mentioned a press assertion issued by SBP.

SBP governor, Dr Reza Baqir will unveil the choice of the MPC at a press convention at 4:00 p.m on the identical day, the assertion additional added.

In the meantime, Pakistan’s overseas trade reserves dipped US$189 million to US$14,259.three in the course of the week ending on July 5.

Based on the State Financial institution of Pakistan, the nation’s whole liquid overseas reserves stood at US$14,259.three million on July 5.

Learn Extra: Rate of interest jacked as much as 12.25 per cent in SBP’s newest financial coverage

The break-up of the overseas reserves place is as follows:

Overseas reserves held by the State Financial institution of Pakistan: US$ 7,083.6 million; internet overseas reserves held by business banks: US$ 7,175.7   million; whole liquid overseas reserves: US$  14,259.three million.

The overseas reserves noticed a lower owing to the nation’s exterior financing necessities, together with funds on account of exterior debt servicing.

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