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, September 19, 2023 – The Pakistani Rupee (PKR) continued its impressive winning streak against the US Dollar on Tuesday, marking its tenth consecutive gain and appreciating to PKR 294.90 in the interbank foreign exchange market.
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Karachi, September 18, 2023 – The private sector in Pakistan has shown a significant surge in bank deposits, increasing by a remarkable 21 percent. This uptick reflects a growing preference for secure investments in the face of ongoing economic challenges.
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Karachi, September 18, 2023 – Despite facing economic challenges, Pakistan’s banking sector has witnessed a remarkable surge in profit by 125 percent during the first half of fiscal year 2023, according to a report released by the State Bank of Pakistan (SBP) on Monday.
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Karachi, September 18, 2023 – Financial analysts are predicting that the Pakistani Rupee (PKR) may experience a significant depreciation, potentially falling to PKR 340 against the US Dollar (USD) by June 2024.
(more…)The Pakistani Rupee (PKR) has been on a winning streak against the US Dollar, marking its ninth consecutive session of gains.
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Karachi, September 18, 2023 – MCB Bank has announced its intention to establish an exchange company with an initial paid-up capital of Rs 10 billion. The decision was communicated in a statement released to the Pakistan Stock Exchange (PSX).
(more…)Karachi, September 17, 2023 – Market analysts suggest that the Pakistani Rupee (PKR) is poised to sustain its recent upward trend against the US dollar during next week starting from September 18, 2023.
(more…)Karachi, September 15, 2023 – In a continued effort to combat illegal foreign currency transactions, the State Bank of Pakistan (SBP) announced on Friday the suspension of authorization for an exchange company.
(more…)The Pakistani Rupee (PKR) has continued its upward trajectory against the US Dollar for the eighth consecutive session.
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Karachi, September 15, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by deciding to impose penalties on banks for their failure to provide details of account holders, according to official sources.
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