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 22, 2024 – As the State Bank of Pakistan’s (SBP) monetary policy meeting approaches on July 29, 2024, analysts are anticipating a significant policy shift.
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Karachi, July 22, 2024 – The Banking Mohtasib Pakistan has provided significant monetary relief to banking customers, amounting to Rs 681.07 million, by resolving 12,568 complaints during the first half of the current calendar year, 2024.
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Karachi, July 22, 2024 – The Pakistani Rupee depreciated by 17 paisas against the dollar on Monday, pressured by high foreign currency demand for import payments. The rupee closed at PKR 278.30 to the dollar, down from Friday’s closing rate of PKR 278.13 at the interbank foreign exchange market.
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Karachi, July 19, 2024 – Bank deposits in Pakistan have soared to an unprecedented Rs 31.12 trillion, as reported by the State Bank of Pakistan (SBP) on Friday. This marks a significant 22 percent increase from the Rs 25.51 trillion recorded at the end of June 2023.
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Karachi, July 19, 2024 – The Pakistani Rupee on Friday recovered 4 paisas against the US dollar, buoyed by an improvement in the country’s foreign exchange reserves. The rupee closed at PKR 278.13 to the dollar, compared to the previous day’s closing of PKR 278.17 in the interbank foreign exchange market.
(more…)Karachi, July 19, 2024 – The State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Report for the third quarter (January-March) of the fiscal year 2023-24, offering a comprehensive review of the country’s payment landscape.
(more…)Karachi, July 18, 2024 – The Pakistani Rupee on Thursday ended down by 6 paisas against the US dollar at the closing of the interbank foreign exchange market.
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Karachi, July 16, 2024 – The State Bank of Pakistan (SBP) has reported a significant surge of 13.50% in bank deposits from the private sector during the fiscal year 2023-24, marking a notable increase from the previous year.
(more…)Karachi, July 15, 2024 – The Pakistani Rupee appreciated by 29 paisas against the US dollar on Monday, closing at PKR 278.11 from last Friday’s PKR 278.40 in the interbank foreign exchange market. This uptick in the rupee’s value is attributed to the prevailing optimism surrounding foreign inflows.
(more…)Karachi, July 14, 2024 – The outlook for the Pakistani rupee against the US dollar has improved following a recent staff-level agreement (SLA) between the International Monetary Fund (IMF) and Pakistan.
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