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.
In the wake of ongoing negotiations with the International Monetary Fund (IMF), analysts predict the Pakistani Rupee (PKR) to maintain its stability against the US Dollar in the upcoming week, commencing from March 18.
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Karachi, March 16, 2024 – Recent speculation regarding the potential introduction of plastic banknotes in Pakistan has been firmly addressed by the State Bank of Pakistan (SBP), which issued a statement on Saturday refuting any such plans.
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Karachi, March 15, 2024 – The State Bank of Pakistan (SBP) announced on Friday that it will unveil its monetary policy on Monday, March 18, 2024.
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Karachi, March 15, 2024 – The US Dollar experienced a decline against the Pakistani Rupee on Friday, settling at PKR 278.74 at the interbank foreign exchange market.
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Islamabad, March 14, 2024 – Pakistan has given the green light for the acquisition of a local microfinance bank by a Dutch-based holding company, marking a significant development in the country’s financial landscape.
(more…)Karachi, March 14, 2024 – In response to challenging economic conditions, bank deposits held by salary earners have surged by an impressive 25 percent, reaching a staggering Rs 3.77 trillion by the end of February 2024, according to official data released on Thursday.
(more…)Karachi, March 14, 2024 – The interbank market closed with stability in the exchange rate between the Pakistani Rupee (PKR) and the US Dollar on Thursday.
(more…)Karachi, March 13, 2024 – In a testament to the digital transformation sweeping Pakistan, the State Bank of Pakistan (SBP) announced on Wednesday that the number of mobile banking users in the country reached an impressive 16 million by the close of December 31, 2023.
(more…)Karachi, March 13, 2024 – In a surprising turn of events, the Pakistani Rupee (PKR) exhibited resilience by strengthening against the US dollar, marking an increase of PKR 0.29.
(more…)Karachi, March 13, 2024 – The State Bank of Pakistan (SBP) has launched an investigation to ascertain the circumstances surrounding the circulation of misprinted Rs 1,000 denomination currency notes.
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