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: The Pakistan Rupee (PKR) has stunned global financial markets with an astonishing recovery, solidifying its position as the best-performing currency in the world for the month of September, according to market analysts.
(more…)
Karachi, September 28, 2023 – The State Bank of Pakistan (SBP) has issued important directives to commercial banks to ensure the smooth facilitation of tax collection on September 30, 2023.
(more…)Karachi, September 28, 2023 – The Pakistani Rupee (PKR) concluded the month of September with a triumphant performance, closing at PKR 287.74 against the US dollar on Thursday, marking a significant recovery from its all-time low of PKR 307.10 to the dollar on September 5, 2023.
(more…)
Karachi, September 27, 2023 – Pakistan has experienced a remarkable 81 percent increase in payments made through mobile phones and internet banking during the fiscal year 2022-23, as indicated by a report released by the central bank on Wednesday.
(more…)Karachi, September 27, 2023 – In a remarkable streak of gains, the Pakistani Rupee (PKR) extended its appreciation against the US dollar for the 16th consecutive session, closing at PKR 288.75 at the interbank foreign exchange market, a significant improvement from the previous day’s closing rate of PKR 289.80.
(more…)
Karachi, September 27, 2023 – In a move to facilitate the resubmission of claims under duty drawback schemes, the State Bank of Pakistan (SBP) has directed commercial banks to keep their branches open on Saturday, September 30, 2023.
(more…)
Karachi, September 27, 2023 – The Pakistani Rupee (PKR) continued its impressive winning streak against the US dollar, with the exchange rate hitting PKR 288.70 during intraday trading on Wednesday.
(more…)Karachi, September 26, 2023 – In an unprecedented winning streak, the Pakistani Rupee (PKR) has made a remarkable gain of 5.6 percent against the US dollar, marking a significant shift in its exchange rate.
(more…)Karachi, September 26, 2023 – Pakistan has officially announced a bank holiday on September 29, 2023, in honor of Eid Milad-un-Nabi (Sallallahu Alayhi Wa-Sallam), a significant Islamic holiday that celebrates the birth of the Prophet Muhammad (Peace Be Upon Him).
(more…)KARACHI, September 25, 2023 – The State Bank of Pakistan (SBP) announced on Monday that it has suspended the authorization of two exchange companies for violations of regulatory guidelines.
(more…)