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, August 14, 2024 – The State Bank of Pakistan (SBP) celebrated the 77th Independence Day of the country with renewed fervor and enthusiasm.
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Karachi, August 12, 2024 – The Pakistani Rupee experienced a slight decline on Monday, slipping 9 paisas to settle at PKR 278.64 against the US dollar by the close of trading on the interbank foreign exchange market.
(more…)KARACHI – Currency dealers are forecasting a stable outlook for the Pakistani rupee in the upcoming week, primarily due to a balanced supply and demand of the US dollar. The market has seen no significant triggers that could lead to volatility. This week, the rupee exhibited minimal fluctuations, with the interbank rate closing at PKR 278.63 per USD on Friday.
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Karachi, August 9, 2024 – Pakistan witnessed a significant surge in workers’ remittances, with inflows rising by 48% Year on Year (YoY) in July 2024, according to data released by the State Bank of Pakistan (SBP) on Friday.
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Karachi, August 9, 2024 – The Pakistani Rupee strengthened against the US Dollar on Friday, closing at PKR 278.55 in the interbank market, marking an appreciation of 14 paisas from the previous day’s rate of PKR 278.69.
(more…)Karachi, August 9, 2024 – A staggering amount of Rs 4.22 billion in bearer prize bonds remains unclaimed following the expiration of the deadline for conversion or exchange on June 30, 2024. According to data released by the State Bank of Pakistan (SBP), many holders of these unregistered prize bonds failed to take action despite multiple extensions provided by the government.
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Karachi, August 8, 2024 – The Pakistani Rupee made a slight recovery on Thursday, gaining 4 paisas against the US dollar in the interbank market. The rupee closed at PKR 278.69 per dollar, a modest improvement from the previous day’s rate of PKR 278.73.
(more…)Karachi, August 8, 2024 – The State Bank of Pakistan (SBP) has officially announced a bank holiday on Wednesday, August 14, 2024, in observance of Pakistan’s Independence Day.
(more…)Karachi, August 7, 2024 – The Pakistani Rupee on Wednesday ended down by 4 paisas against the US dollar at the close of the interbank foreign exchange market. The rupee closed at PKR 278.73 to the dollar, slipping from the previous day’s closing of PKR 278.69.
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Karachi, August 7, 2024 – MCB Bank has announced a record-breaking profit before tax (PBT) for the first half of 2024, reaching Rs 62.7 billion, a 16% increase from the previous year.
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