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 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.
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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.
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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.
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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…)Karachi, June 24, 2023: The State Bank of Pakistan (SBP) has issued special instructions to banks in order to facilitate taxpayers during the upcoming holidays and ensure the smooth collection of duty and taxes.
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Karachi, June 24, 2023: The State Bank of Pakistan (SBP) has declared a bank holiday on July 3, 2023. In a statement released by the central bank, it was announced that all commercial banks will remain closed on this day.
(more…)Karachi, June 23, 2023 – In a significant move aimed at bolstering its economy, Pakistan has officially withdrawn the ban on payments for the import of goods.
(more…)Karachi, June 23, 2023 – The Pakistani Rupee (PKR) closed on a stronger note against the US dollar as demand for imports and corporate payments increased over the weekend.
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