Money and banking drive economic activity by facilitating transactions, savings, and investments. Banks manage financial resources, offer credit, and regulate money supply, ensuring stability and growth in Pakistan’s financial sector.
Karachi, May 26, 2024 – The Overseas Investors Chamber of Commerce and Industry (OICCI) has recommended the abolition of the windfall profit tax on banks in its proposals for the Budget 2024-25.
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Karachi, May 26, 2024 – The Pakistani Rupee is expected to remain stable against the US dollar in the lead-up to the presentation of the Budget 2024-25, scheduled for next month. This forecast comes amid slight fluctuations observed in the interbank market this week.
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Karachi, May 24, 2024 – The Pakistani rupee gained nine paisas against the US dollar on Friday, buoyed by positive economic developments and market sentiment.
(more…)Karachi, May 23, 2024 – The Pakistani Rupee rebounded on Thursday, reaching PKR 278.30 against the US dollar after a three-day consecutive decline. This gain of 17 paisas from the previous day’s closing of PKR 278.47 in the interbank foreign exchange market marks a positive turn for the local currency.
(more…)Karachi, May 22, 2024 – The Pakistani Rupee experienced its third consecutive day of decline against the US dollar on Wednesday, closing at PKR 278.47 in the interbank foreign exchange market.
(more…)The Pakistani Rupee (PKR) experienced a slight depreciation on Tuesday, falling by 9 paisas against the US dollar in the interbank foreign exchange market.
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Karachi, May 21, 2024 – The inflows into Roshan Digital Accounts (RDAs) saw a 6 percent decline month-on-month (MoM) in April 2024. According to the State Bank of Pakistan (SBP), the inflows into RDAs recorded $171 million in April, down from $182 million in March.
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Karachi, May 20, 2024 – Bank deposits in Pakistan have soared to an unprecedented high, reaching Rs 28.42 trillion by the end of April 2024, according to official data released on Monday.
(more…)Karachi, May 20, 2024 – The Pakistani Rupee (PKR) has depreciated by 9 paisas against the US dollar at the closing of the interbank foreign exchange market on Monday. The rupee ended at PKR 278.30 to the dollar, down from last Friday’s closing of PKR 278.21.
(more…)Karachi, May 19, 2024 – The Pakistan rupee is expected to remain stable against the US dollar in the upcoming week starting May 20, 2024, buoyed by a current account surplus recorded in April 2024.
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