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: 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.
(more…)
Karachi, July 4, 2023 — The Pakistani Rupee (PKR) crushed the US dollar on Tuesday, gaining PKR 10.55 at closing in the interbank foreign exchange market. The exchange rate recorded a PKR 10.55 increase in rupee value to end at PKR 275.44 to the dollar from last closing of PKR 285.99 on June 27, 2023.
(more…)Karachi, July 4, 2023: The Pakistani Rupee (PKR) started the trading week with a remarkable surge as the US dollar tumbled to PKR 275 at the opening of the interbank foreign exchange market today. This dramatic decline occurred following the weeklong Eid holidays and a significant development in Pakistan’s financial landscape.
(more…)
Karachi, July 3, 2023: Meezan Bank Limited (MEBL) has received reaffirmed entity ratings of AAA/A-1+ (Triple A/ A-One Plus) from VIS Credit Rating Company Limited, highlighting the bank’s highest credit quality and outstanding short-term liquidity.
(more…)In a recent statement, the State Bank of Pakistan (SBP) has announced that commercial banks across the country will remain closed for public Transactions on Monday, July 3, 2023.
(more…)Karachi, June 28, 2023: The Pakistan Rupee (PKR) has experienced its highest-ever annual fall against the US dollar during the fiscal year 2022-23, with a depreciation of 28 percent, according to analysts at Arif Habib Limited.
(more…)Karachi, June 27, 2023 – The Pakistani Rupee (PKR) displayed a notable recovery against the US dollar on Tuesday, closing at PKR 285.99 in the interbank foreign exchange market.
(more…)
Karachi, June 26, 2023 – In an unexpected move on Monday, the State Bank of Pakistan (SBP) raised the benchmark key policy rate by 100 basis points to 22 percent.
(more…)
Karachi, June 26, 2023 – The State Bank of Pakistan (SBP) issued a warning on Monday, stating that prize bonds will become worthless if not encashed before June 30, 2023.
(more…)Karachi, June 26, 2023: The Pakistani Rupee (PKR) showed a slight improvement against the US dollar on Monday, following an optimistic sentiment surrounding the resumption of the International Monetary Fund (IMF) program.
(more…)