Category: Money & Banking

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.

SBP’s Decision Sparks Optimism: Dollar Expected to See Significant Fall in Pakistan

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).
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June 1, 2023
SBP Sells Treasury Bills Worth Rs2.3 Trillion

On May 31, 2023, the State Bank of Pakistan (SBP) conducted an auction where it sold market treasury bills worth Rs2.3 trillion.
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June 1, 2023
PKR faces slight loss against dollar in interbank

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.
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May 31, 2023
Pakistani Rupee Makes Nominal Gain Against US Dollar Amid Inflows

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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May 30, 2023
SBP Releases Payment System Review for Quarter ended March 31, 2023

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.
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May 29, 2023
PKR loses 27 paisas against dollar, closes at PKR 285.42

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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May 29, 2023
Pakistan banks call for reduction in income tax rate to 29%

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.
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May 27, 2023
Pakistani Rupee likely to stay stable to dollar amid Russian oil arrival

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.
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May 27, 2023
Rupee makes third consecutive gain against US dollar to end at PKR 285.15

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.
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May 26, 2023
Rupee shows strong recovery against US dollar to end at PKR 285.74

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.
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May 25, 2023