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.
The Pakistani Rupee (PKR) experienced a marginal gain of seven paisas against the US dollar in the interbank foreign exchange market on Monday.
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Karachi, May 29, 2023: The State Bank of Pakistan (SBP) has published a comprehensive review on the state of digital payments and infrastructure in the country. The review, covering the third quarter of FY23, highlights the continued growth and expansion of digital payment systems.
(more…)Pakistani Rupee (PKR) on Monday, experienced a decline of 27 paisas against the US Dollar in the interbank foreign exchange market. This depreciation was attributed to the increased demand for the dollar, primarily driven by import payments at the start of the week.
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KARACHI: In an effort to create a level playing field, the Pakistan Banks Association (PBA) has proposed a phased reduction in the tax rate for banks from 39 percent to 29 percent, bringing it in line with other sectors of the economy.
(more…)The Pakistani Rupee (PKR) is expected to maintain stability against the US Dollar in the coming week, driven by the anticipated arrival of Russian oil. This development raises hopes of reducing the country’s oil import bill, leading to positive market sentiment.
(more…)In a positive trend for the Pakistani economy, the Pakistani Rupee (PKR) registered its third straight day of gains against the US dollar. The interbank foreign exchange market witnessed an appreciation of the rupee, with the exchange rate closing at PKR 285.15 to the dollar. This recent surge in value follows a decline to PKR 287.15 on May 23, 2023.
(more…)Karachi, May 25, 2023 – The Pakistani Rupee (PKR) witnessed a significant recovery against the US dollar, closing at PKR 285.74 in the interbank foreign exchange market on Thursday.
(more…)Banking loans extended to the private sector in Pakistan have experienced a significant decline of 94% during the first 10 and a half months of the current fiscal year, as per the latest data released by the State Bank of Pakistan (SBP).
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Karachi, May 24, 2023 – The State Bank of Pakistan (SBP) has taken strict action against five commercial banks for violating regulatory provisions, including anti-money laundering (AML) laws.
(more…)Karachi, May 24, 2023 – The Pakistani Rupee managed to break free from its five-day losing streak against the US dollar on Wednesday, as it recorded a slight gain in the interbank foreign exchange market.
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