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, June 7, 2023: The Pakistani Rupee (PKR) has experienced a fourth consecutive session of losses against the US dollar, closing at PKR 286.88 in the interbank foreign exchange market on Wednesday.
(more…)
Karachi, June 7, 2023 – The State Bank of Pakistan (SBP) has announced an extension of the facility that allows freelancers in the Information Technology (IT) sector to retain 35% of their export earnings in their foreign currency (FCY) accounts.
(more…)
Karachi, June 6, 2023: The State Bank of Pakistan (SBP) has officially renewed the eligibility and recognition of two credit rating agencies, VIS Credit Rating Company Limited (VIS) and The Pakistan Credit Rating Agency Limited (PACRA), as External Credit Assessment Institutions (ECAIs) until December 31, 2023.
(more…)Karachi, June 6, 2023: The Pakistani Rupee (PKR) experienced its third consecutive loss against the US dollar on Tuesday, closing at PKR 286.56 in the interbank foreign exchange market.
(more…)
Karachi, June 6, 2023: Meezan Bank, Pakistan’s leading Islamic bank, has forged a strategic partnership with Fauree Tech Pvt Limited, a fintech company specializing in supply chain solutions.
(more…)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…)