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, November 1, 2023 – In a relentless eight-session streak, the US dollar has extended its dominance over the Pakistani Rupee (PKR), reaching the remarkable exchange rate of PKR 282.65.
(more…)Karachi – October 31, 2023 – The US dollar continued its steady ascent against the Pakistani Rupee (PKR) for the seventh consecutive session, closing at PKR 281.47.
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Karachi, October 30, 2023 – Pakistan has chosen to uphold the benchmark interest rate at 22 percent, anticipating a substantial decline in inflation. In a statement released by the State Bank of Pakistan (SBP) on Monday, the Monetary Policy Committee (MPC) cited their outlook for a decreasing inflation trend.
(more…)Karachi, October 30, 2023 – The US dollar maintained its dominance for the sixth consecutive session against the Pakistani Rupee (PKR), closing at PKR 280.95.
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Karachi, October 30, 2023 – Pakistan banks have experienced an astounding 95 percent growth in profit on a year-on-year (YoY) basis during the third quarter of 2023.
(more…)Karachi, October 29, 2023 – The Pakistani Rupee (PKR) is expected to make a recovery against the US dollar in the upcoming week commencing from October 30, 2023.
(more…)Karachi, October 29, 2023 – The State Bank of Pakistan (SBP) is gearing up to make a pivotal announcement on its monetary policy, set to take place on October 30, 2023.
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Karachi, October 27, 2023 – Allied Bank Limited (ABL) has received approval from the State Bank of Pakistan (SBP) to establish an exchange company, marking a significant development in the financial sector.
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Karachi, October 27, 2023 – Faysal Bank Limited (FBL), a prominent Islamic bank in Pakistan, has reported an outstanding achievement with a remarkable 100% growth in operating profit during the first nine months of the current year.
(more…)Karachi, October 27, 2023 – In a concerning trend, the Pakistani Rupee (PKR) continued its slide against the US Dollar for the fifth consecutive day, closing at PKR 280.57 in the interbank foreign exchange market.
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