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, June 10, 2024 – In a move aimed at providing much-needed relief to the economy, the State Bank of Pakistan (SBP) has announced a reduction in the benchmark policy rate by 150 basis points, bringing it down to 20.5 percent.
(more…)
PkRevenue.com – The State Bank of Pakistan (SBP) is poised to make a pivotal decision regarding the benchmark policy rate on Monday, June 10, 2024.
(more…)
PkRevenue.com – The Pakistani Rupee is anticipated to maintain its stability against the US dollar in the upcoming week beginning June 10, 2024.
(more…)PkRevenue.com – Pakistan has achieved a historic milestone by recording all-time high monthly remittances of $3.24 billion in May 2024, according to official data released on Friday by the State Bank of Pakistan (SBP).
(more…)
In a positive turn for the Pakistani economy, the rupee on Friday regained 19 paisas against the US dollar, closing at PKR 278.20 from the previous day’s PKR 278.39 in the interbank foreign exchange market. This appreciation was primarily driven by inflows from export receipts and remittances.
(more…)PkRevenue.com – The Pakistani Rupee weakened by 9 paisas against the US dollar on Thursday, reflecting increased demand for the foreign currency due to rising foreign payments.
(more…)
PkRevenue.com – JazzCash, Pakistan’s leading mobile wallet and digital financial services platform, has achieved a significant milestone by surpassing 11 million active app users.
(more…)
Elevate, a London and Dubai-based fintech company, has successfully raised $5 million in financing to expand its services into South Asia.
(more…)PkRevenue.com – The Governor of the State Bank of Pakistan (SBP), Jameel Ahmed, chaired the inaugural Steering Committee Meeting aimed at implementing priority sector initiatives recommended by the Pakistan Banks’ Association (PBA).
(more…)
PkRevenue.com – The Pakistani rupee maintained stability against the US dollar on Wednesday, closing at PKR 278.30 in the interbank foreign exchange market. This stability is attributed to positive economic signals, particularly following Prime Minister Shehbaz Sharif’s recent visit to China.
(more…)