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, September 12, 2023 – In a strategic move, the board of directors at United Bank Limited (UBL) has given their unanimous approval to establish an exchange company and sell shares in United National Bank Limited UK (UNBL UK).
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Karachi, September 12, 2023 – The State Bank of Pakistan (SBP) is likely to consider a substantial increase in the benchmark interest rate, potentially reaching a historic high above the current record of 22 percent.
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Karachi, September 12, 2023 – The State Bank of Pakistan (SBP) has officially disclosed the date for its upcoming Monetary Policy Committee (MPC) meeting.
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Karachi, September 12, 2023 – The US dollar continued its downward trajectory against the Pakistani Rupee (PKR) on Tuesday, reaching PKR 299 in intraday interbank foreign exchange trading.
(more…)Karachi, September 11, 2023 – Pakistan has witnessed a substantial decline in workers’ remittances, with inflows plummeting by over 21 percent during the first two months of fiscal year 2023-24.
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Karachi, September 11, 2023 – The Pakistani Rupee (PKR) demonstrated remarkable strength against the US dollar by closing at PKR 301.16 in the interbank foreign exchange market, marking the fourth consecutive session of appreciation.
(more…)Karachi, September 11, 2023 – In a significant development, the US dollar plummeted to PKR 301 in early day trading on Monday at the interbank foreign exchange market. This marked a steep decline of PKR 1.95 in the dollar’s value from last Friday’s closing rate of PKR 302.95.
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Karachi, September 10, 2023: The Pakistani Rupee (PKR) is likely to continue its recovery against the US dollar in the coming week, buoyed by a major crackdown on currency smuggling and hoarding initiated by authorities.
(more…)Karachi, September 9, 2023 – The Pakistani Rupee (PKR) has experienced a remarkable appreciation of 8 percent against the US dollar during the past week in the open market, attributed to a massive crackdown against currency smuggling operations.
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Amidst heated debates surrounding the demonetization of the Rs 5000 banknote in Pakistan, particularly in the wake of a recent fake news episode, the question of why Pakistan should consider phasing out this high-denomination currency looms large.
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