SBP Foreign Exchange Reserves Rise by $33 Million, Reaching $9.44 Billion The State Bank of Pakistan (SBP) witnessed a modest increase in its foreign exchange reserves, which rose by $33 million on a weekly basis, bringing the total reserves to $9.44 billion as of August 30, 2024. This marks the second consecutive week of growth in the country’s forex reserves, …
Read More »In a recent report by ACE Money Transfer, a UK-based company, a startling revelation has come to light: illicit activities, including the black market trade and smuggling of United States Dollars (USD), are quietly siphoning off a staggering $23 billion from Pakistan’s economy every year. These clandestine operations, which encompass black market currency trade, oil smuggling, gold smuggling, and challenges …
Read More »Introduction: The State Bank of Pakistan (SBP) has reiterated its firm stance on cryptocurrencies, maintaining a ban on the trading and investment activities related to virtual currencies in the country. Despite the growing global interest in cryptocurrencies, SBP has shown no flexibility in allowing institutions to engage in cryptocurrency businesses within Pakistan. This article delves into the regulatory measures imposed …
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