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.
In the interbank foreign exchange market on Monday, June 5, 2023, the Pakistani Rupee (PKR) experienced a decline of 51 paisas against the US dollar.
(more…)The Pakistani Rupee (PKR) is likely to remain under pressure against the US Dollar next week due to import payments and trade deficit concerns.
Furthermore, the upcoming announcement of the federal budget for 2023-2024 has heightened the demand for foreign currency. As the corporate sector approaches the end of their financial year on June 30, they are actively accumulating dollars for repatriation purposes.
(more…)
As the monetary policy committee prepares for its upcoming meeting on June 12, 2023, market expectations lean towards the State Bank of Pakistan (SBP) maintaining the policy rate at the current level of 21%.
(more…)
In a recent poll conducted by Topline Securities, market participants have expressed their expectations regarding the State Bank of Pakistan’s (SBP) upcoming monetary policy announcement.
(more…)The Pakistani Rupee (PKR) experienced a depreciation of 30 paisas against the US dollar on Friday, primarily due to an increased demand for import and corporate payments.
(more…)
The Pakistani government has announced an extended deadline for the redemption of certain prize bonds, giving the public another opportunity to encash their bonds.
(more…)The Pakistani Rupee (PKR) has gained 9 paisas against dollar in interbank foreign exchange market on Thursday.
(more…)
The recent circular issued by the State Bank of Pakistan (SBP) on May 31, 2023, allowing Authorized Dealers to purchase US Dollar from the Interbank for settlement of card-based cross-border transactions with IPS, has been welcomed by Zafar Paracha, the General Secretary of the Exchange Companies Association of Pakistan (ECAP).
(more…)On May 31, 2023, the State Bank of Pakistan (SBP) conducted an auction where it sold market treasury bills worth Rs2.3 trillion.
(more…)The interbank foreign exchange market on Wednesday, witnessed a depreciation of 12 paisas in the Pakistani Rupee (PKR) against the US Dollar. This decline was primarily influenced by increased demand for the dollar and the prevailing political uncertainty.
(more…)