ISLAMABAD – The federal government has increased profit rates on all national savings schemes by up to 4 percent, days after a surge in the State Bank of Pakistan’s policy rate.
Central Directorate of National Savings has increased the rate of return on Special Savings Certificates from 13 percent to 17.13 percent.
The rate on Savings Accounts (SA) has been increased by 4 percent to 18.50pc, and Short Term Savings Certificates (STSC) to 19.82pc with a surge of 3.86pc. The rate of Bahbood Savings Certificates (BSC) and Pensioners Benefit Account (PBA) saw an increase of 2.64 percent to 16.56 percent.
Earlier, the central bank revealed that investors take out Rs32.38 billion from saving schemes in February this year with a total disinvestment of Rs285.73 billion in the first eight months of the current fiscal year 2023.
The recent development comes days after the State Bank of Pakistan jacked up its key interest rate to a record 21 percent in its last Monetary Policy Committee meeting on April 04 to tackle back-breaking inflation.
Pakistani currency saw minor adjustment against global currencies on April 17, 2024. US dollar was being quoted at 277.4 for buying and 280.4 for selling.
Euro comes down to 293.15 for buying and 296.1 for selling while British Pound stands at 344.25 for buying, and 347.6 for selling.
UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 277.4 | 280.4 |
Euro | EUR | 293.15 | 296.1 |
UK Pound Sterling | GBP | 344.25 | 347.6 |
U.A.E Dirham | AED | 75.45 | 76.2 |
Saudi Riyal | SAR | 73.3 | 74.05 |
Australian Dollar | AUD | 181 | 182.5 |
Bahrain Dinar | BHD | 739.38 | 747.38 |
Canadian Dollar | CAD | 201 | 203 |
China Yuan | CNY | 38.45 | 38.85 |
Danish Krone | DKK | 40.45 | 40.85 |
Hong Kong Dollar | HKD | 35.57 | 35.92 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 902.26 | 911.26 |
Malaysian Ringgit | MYR | 58.24 | 58.84 |
New Zealand Dollar | NZD | 164.75 | 166.75 |
Norwegians Krone | NOK | 25.38 | 25.68 |
Omani Riyal | OMR | 722.1 | 730.1 |
Qatari Riyal | QAR | 76.37 | 77.07 |
Singapore Dollar | SGD | 204.5 | 206.5 |
Swedish Korona | SEK | 25.72 | 26.02 |
Swiss Franc | CHF | 307.11 | 309.61 |
Thai Bhat | THB | 7.61 | 7.76 |
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