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, August 28, 2023 – In a concerning development for Pakistan’s economy, the US dollar soared to a historic high of PKR 302 at the close of the interbank foreign exchange market on Monday, August 28.
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Karachi, August 28, 2023 – The Pakistani Rupee (PKR) experienced a new intraday low against the US dollar on Monday, reaching PKR 301.75 during trading.
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The Pakistani rupee is poised to maintain its downward trajectory against the US dollar in the week commencing on August 28, 2023.
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Karachi, August 25, 2023 – The Federal Board of Revenue (FBR) has taken legal action against Faysal Bank Limited concerning a tax dispute related to the taxability of gains on a bargain purchase.
(more…)Karachi, August 25, 2023 – The Pakistani Rupee (PKR) hit an unprecedented low on Friday, closing at PKR 301 against the US dollar in the interbank foreign exchange market. This significant drop marks a 78 paisa depreciation in the rupee’s value compared to the previous day’s closing rate of PKR 300.22.
(more…)Karachi, August 25, 2023 – The Pakistani Rupee (PKR) continued its downward spiral on Friday, making a fresh historic low against the US dollar.
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The State Bank of Pakistan (SBP) marked the 75th anniversary of diplomatic relations between Pakistan and the United States by issuing a commemorative coin valued at 75 rupees.
(more…)Karachi, August 24, 2023 – The US dollar achieved a historic milestone on Thursday, breaching the PKR 300-mark for the first time in Pakistan’s history at the close of the Interbank foreign exchange market.
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Karachi, August 24, 2023 – Faysal Bank Limited (FBL) has announced a remarkable surge in its half-yearly profits, with the profit after tax soaring to Rs7.53 billion for the period ending on June 30, 2023.
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Karachi, August 24, 2023 – Standard Chartered Bank (Pakistan) Limited has announced a remarkable 132 percent surge in after-tax profit, reaching Rs 18.78 billion for the half-year ending on June 30, 2023.
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