With arrival of Eurobond inflows, the State Bank of Pakistan’s (SBP) foreign exchange reserves have surged to all-time high level of USD 21.4 billion mark. In the first week of September, Pakistan has raised some USD 3 billion through a landmark dual-tranche Eurobond issuance, marking its largest-ever global bond transaction in a single offering. The government split USD 3 billion Eurobond i
The State Bank of Pakistan (SBP) Monetary Policy Committee (MPC), in its second meeting in the fiscal year 2026-27, decided to keep the policy rate unchanged at 11.5%. The MPC met for the sixth time this calendar year. The decision was in line with market expectations. The SBP has held the rate steady since raising it by 100 basis points in April, its first increase in nearly three years, af
Oil prices rose on Tuesday as concerns over supply disruptions persisted after attacks on Saudi Arabian energy infrastructure left the kingdom’s East-West pipeline offline and cast doubt on efforts to ease shipping risks in the Gulf. Brent crude futures rose $1.24, or 1.18%, to $106.93 a barrel at 0026 GMT, after climbing 1% previously, while US West Texas Intermediate futures were up $1.29,
Selling pressure was observed at the Pakistan Stock Exchange (PSX) after new Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf, with the benchmark KSE-100 Index shedding nearly 1,500 points during the trading session on Monday. At 1pm, the benchmark index was hovering at 169,032.17, down by 1,479.68 points or 0.87%. Selling was observed in key sectors, including automob
Amid the post-Covid massive inflationary spiral, the fiscally suffocated government with limited days of foreign exchange reserves became massively dependent on the domestic debt market to finance their massive deficits, and amid rising inflation they had to issue massive amount of floating-rate, long-tenor debt instruments to manage extreme rollover risk. For reference, the total cumulative is