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, July 11, 2024 – The Pakistani Rupee continued its downward trend against the US dollar, closing at PKR 278.61 in the interbank market on Thursday.
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Karachi, July 10, 2024 – The State Bank of Pakistan (SBP) has officially declared bank holidays in observance of Ashura e Moharram. In a circular addressed to all banks, the SBP confirmed that it will remain closed on July 16th and 17th, 2024, corresponding to Tuesday and Wednesday, to mark the occasion of Ashura (9th and 10th Moharram 1446 A.H).
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Karachi, July 10, 2024 – The Pakistani Rupee depreciated by 11 paisas to settle at PKR 278.51 against the US dollar at the close of trading in the Interbank foreign exchange market on Wednesday.
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Karachi, July 10, 2024 – The State Bank of Pakistan (SBP) on Wednesday announced the appointment of primary dealers (PDs) and special purpose primary dealers (SPPDs) for the financial year 2024-25.
(more…)Karachi, July 9, 2024 – Pakistan received $30.25 billion in workers’ remittances during the fiscal year 2023-24, according to a report by the State Bank of Pakistan (SBP) released on Tuesday. This represents an 11 percent increase compared to the $27.33 billion received in the preceding fiscal year.
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Karachi, July 9, 2024 – The US dollar weakened against the Pakistani Rupee on Tuesday, closing at PKR 278.40 in the interbank foreign exchange market. This marks a slight decrease of 10 paisas from the previous day’s closing of PKR 278.50.
(more…)Karachi, July 8, 2024 – On Monday, the Pakistani Rupee weakened against the US dollar by 12 paisas, driven by high foreign currency demand at the beginning of the week.
(more…)Karachi – July 7, 2024 – The Pakistani Rupee is expected to hold steady against the US dollar in the coming week, starting July 8th, 2024. This forecast comes after a week of relatively stable trading, with the rupee closing at approximately 278.50 per dollar in the interbank market.
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KARACHI, July 5, 2024 – Bill Winters, Group CEO of Standard Chartered Bank, expressed optimism about Pakistan’s potential and reaffirmed the bank’s commitment to continued investment during his visit to the Overseas Investors Chamber of Commerce and Industry (OICCI) on Friday.
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Karachi, July 5, 2024 – United Bank Limited (UBL) has successfully concluded the sale of its entire shareholding in United National Bank Limited (UNBL) UK, marking a strategic shift aimed at enhancing its financial position and shareholder returns.
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