Category: Money & Banking

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.

Pakistani Rupee Continues Downward Spiral Against Dollar, Hits 6-Day Losing Streak

Karachi, July 21, 2023 – The Pakistani Rupee continued its losing streak for the sixth consecutive day against the US dollar, reaching PKR 286.81 on Friday. The currency experienced a significant depreciation, losing PKR 10.35 from its value since July 13, 2023, when it was trading at PKR 276.46.
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July 21, 2023
Standard Chartered Launches 5th Cohort of Women in Tech Program in Pakistan

Karachi, July 20, 2023 – Standard Chartered, in collaboration with INNOVentures Global (Pvt.) Ltd., has announced the launch of the 5th cohort of its Women in Tech (WiT) program in Pakistan.
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July 20, 2023
PKR Continues to Slide Against USD, Closes at PKR 285.15 in Interbank

Karachi, July 20, 2023 – The Pakistani Rupee (PKR) experienced its fifth consecutive day of decline, reaching a closing rate of PKR 285.15 against the US dollar in the interbank foreign exchange market on Thursday.
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July 20, 2023
Pakistani Banks Face Sovereign Risk amid Rising Government Debt: IMF Report

Karachi, July 20, 2023 – Pakistani banks are exposed to sovereign risk due to the escalating levels of government debt, warned a report issued by the International Monetary Fund (IMF).
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July 20, 2023
SBP Commits Not to Launch New Refinancing Schemes, IMF Country Report States

Karachi, July 20, 2023 – The State Bank of Pakistan (SBP) has made a commitment not to introduce new refinancing schemes, according to the latest country report on Pakistan issued by the International Monetary Fund (IMF).
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July 20, 2023
Market Divided on SBP’s Upcoming Monetary Policy Meeting

Karachi, July 20, 2023: Market participants are divided over the State Bank of Pakistan’s (SBP) decision on whether to raise the benchmark policy rate further in the upcoming monetary policy meeting.
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July 20, 2023
Pakistani Rupee Continues to Depreciate Against Dollar; Ends at PKR 283.80

Karachi, July 19, 2023 – The Pakistani Rupee (PKR) experienced yet another fall against the US dollar on Wednesday, closing at PKR 283.80 in the interbank foreign exchange market.
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July 19, 2023
UBL Reports Over Fourfold Surge in Quarterly Net Profit

Karachi, July 19, 2023 – United Bank Limited (UBL), one of Pakistan’s largest banks, has witnessed a remarkable over fourfold surge in net profit for the quarter ending June 30, 2023.
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July 19, 2023
Pakistan Plans New Trading Platform for Spot Transactions

Karachi, July 19, 2023 – Pakistan is set to establish a new trading platform for spot exchange rate transactions, as part of its commitment to the International Monetary Fund (IMF).
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July 19, 2023
Rupee Witnesses Significant Devaluation Against US Dollar, Plummeting to PKR 283.04

Karachi, July 18, 2023 – In a notable turn of events, the Pakistani Rupee (PKR) experienced a significant devaluation against the US dollar, reaching a new low of PKR 283.04 in the interbank foreign exchange market on Tuesday.
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July 18, 2023