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.
The Pakistani Rupee (PKR) is expected to face further decline against the US dollar in the upcoming week, commencing on November 6, 2023.
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Karachi, November 4, 2023 – The State Bank of Pakistan (SBP) has officially announced a bank holiday scheduled for November 9, 2023, in observance of Allama Iqbal Day.
(more…)Karachi, November 3, 2023 – The Pakistani Rupee (PKR) continued its downward trend, concluding its 10th consecutive falling session at PKR 284.31 against the US dollar on Friday.
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Karachi, November 3, 2023 – The Arab Monetary Fund (AMF) and Pakistan have inked a Memorandum of Understanding (MoU) for enhancing cross-border remittances.
(more…)Karachi, November 2, 2023 – The Pakistani Rupee (PKR) continued its downward trajectory for the ninth consecutive session, depreciating further against the US dollar to reach a rate of PKR 283.43 in the interbank foreign exchange market.
(more…)Karachi, November 1, 2023 – In a relentless eight-session streak, the US dollar has extended its dominance over the Pakistani Rupee (PKR), reaching the remarkable exchange rate of PKR 282.65.
(more…)Karachi – October 31, 2023 – The US dollar continued its steady ascent against the Pakistani Rupee (PKR) for the seventh consecutive session, closing at PKR 281.47.
(more…)Karachi, October 30, 2023 – Pakistan has chosen to uphold the benchmark interest rate at 22 percent, anticipating a substantial decline in inflation. In a statement released by the State Bank of Pakistan (SBP) on Monday, the Monetary Policy Committee (MPC) cited their outlook for a decreasing inflation trend.
(more…)Karachi, October 30, 2023 – The US dollar maintained its dominance for the sixth consecutive session against the Pakistani Rupee (PKR), closing at PKR 280.95.
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Karachi, October 30, 2023 – Pakistan banks have experienced an astounding 95 percent growth in profit on a year-on-year (YoY) basis during the third quarter of 2023.
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