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, July 12, 2023 – President Dr. Arif Alvi has dismissed an appeal by Bank Alfalah against the decision of the Banking Ombudsman, directing the bank to issue a refund to a customer and send him an apology.
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The Pakistani Rupee showed significant progress on Wednesday as it gained Rs1.09 against the US Dollar, closing at PKR 277.48 in the interbank foreign exchange market.
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Karachi, July 12, 2023 – The State Bank of Pakistan (SBP) has issued a detailed report advising all financial institutions (FIs) in the country to avoid processing cryptocurrencies due to their status as non-legal tender.
(more…)Karachi, July 11, 2023 – The Pakistani Rupee (PKR) demonstrated a remarkable recovery against the US dollar on Tuesday, closing at PKR 278.57 in the interbank foreign exchange market. This positive trend reflects a gain of PKR 1.23 in the rupee’s value compared to the previous day’s closing rate of PKR 279.80.
(more…)Karachi, July 10, 2023 – Workers’ remittances flowing into Pakistan have experienced a significant decline of around 14%, amounting to $24.02 billion in the fiscal year 2022-23, according to official data released by the State Bank of Pakistan (SBP) on Monday.
(more…)Karachi, July 10, 2023 – The Pakistani rupee (PKR) on Monday recorded a sharp decrease against the US dollar, ending at PKR 278.80 to the dollar. This was a decrease of PKR 1.9 from the previous day’s closing rate of PKR 277.90.
(more…)Karachi, July 7, 2023 – The Pakistani Rupee (PKR) experienced a decline against the dollar on Friday as a result of increased demand ahead of the weekend for import and corporate payments.
(more…)Karachi, July 6, 2023: In a positive turn of events, the Pakistani Rupee (PKR) bounced back against the dollar on Thursday, concluding the interbank foreign exchange market at PKR 277.04.
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Karachi, July 5, 2023: The US dollar made a strong comeback in the Pakistani currency market on Wednesday, recovering from a significant fall against the Pakistan Rupee (PKR) the previous day. The exchange rate witnessed a PKR 1.97 depreciation in the rupee’s value, closing at PKR 277.41 to the dollar compared to the previous day’s rate of PKR 275.44 in the interbank foreign exchange market.
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Karachi: In a ceremony held at the SBP Museum in Karachi on July 4, 2023, Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, unveiled a special Rs. 75 Commemorative Banknote to mark the 75th anniversary of the SBP’s founding.
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