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.
Islamabad, September 7, 2023 – Pakistan has officially denied recent reports suggesting a ban on the Rs 5000 denomination banknote. The Ministry of Finance issued a statement on Thursday to address the circulating rumors and clarify the situation.
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Karachi, September 7, 2023 – The Pakistani Rupee (PKR) has undergone a significant recovery in both the interbank and open markets, thanks to a comprehensive crackdown launched by authorities in Pakistan against currency smuggling and the black market.
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Karachi, September 7, 2023 – In a surprising turn of events, the Pakistani Rupee (PKR) demonstrated a remarkable recovery against the US dollar today, closing at PKR 304.94 in the interbank foreign exchange market. This recovery represents a significant gain of PKR 2.04 in rupee value compared to the previous day’s closing rate of PKR 306.98.
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Islamabad, September 6, 2023 – The State Bank of Pakistan (SBP) has initiated a series of structural reforms aimed at enhancing the monitoring and governance of exchange companies operating within the country.
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Karachi, September 6, 2023 – In a significant move aimed at fortifying the financial stability of exchange companies in Pakistan, the State Bank of Pakistan (SBP) announced on Wednesday that it would be raising the minimum paid-up capital requirement for these entities from PKR 200 million to PKR 500 million.
(more…)Karachi, September 6, 2023 – The Pakistani Rupee (PKR) showed signs of recovery by gaining 12 paisas against the US dollar in a highly volatile trading session in the interbank foreign exchange market on Wednesday.
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Karachi, September 6, 2023 – The National Bank of Pakistan (NBP) has disclosed that its total tax contingencies have risen to Rs 29.26 billion, according to official documents released recently.
(more…)Karachi, September 5, 2023 – The Pakistani Rupee (PKR) continued its relentless decline against the US dollar on Tuesday, reaching a fresh low of PKR 307.10 at the interbank closing.
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Karachi, September 5, 2023 – The US dollar reached an all-time high of PKR 306.25 during intraday trading at the interbank market on Tuesday, marking a significant depreciation in the value of the Pakistani rupee.
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