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.
Banking loans extended to the private sector in Pakistan have experienced a significant decline of 94% during the first 10 and a half months of the current fiscal year, as per the latest data released by the State Bank of Pakistan (SBP).
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Karachi, May 24, 2023 – The State Bank of Pakistan (SBP) has taken strict action against five commercial banks for violating regulatory provisions, including anti-money laundering (AML) laws.
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Karachi, May 24, 2023 – The Pakistani Rupee managed to break free from its five-day losing streak against the US dollar on Wednesday, as it recorded a slight gain in the interbank foreign exchange market.
(more…)The Pakistani Rupee (PKR) experienced its fifth consecutive day of decline against the US dollar on Tuesday, as external debt repayment pressure and political uncertainty continued to weigh on the currency. The interbank foreign exchange market witnessed a decrease of 59 paisas, with the exchange rate closing at PKR 287.15 compared to the previous day’s closing rate of PKR 286.56.
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Mobilink Bank and Hashoo Foundation (HF) have joined forces to promote financial inclusion for Micro, Small, and Medium Enterprises (MSMEs) through a Memorandum of Understanding (MoU).
(more…)The Pakistani Rupee (PKR) on Monday lost 74 paisas against US Dollar in the interbank foreign exchange market. This decline is attributed to heightened demand for the dollar due to the start of the trading week.
(more…)KARACHI: The Pakistani Rupee (PKR) experienced a significant drop against the US dollar, reaching PKR 288 during midday trading at the interbank foreign exchange market on Monday.
(more…)After going through stable and uncertain sessions, the Pakistani Rupee (PKR) may remain volatile against the US Dollar for next week starting from May 22, 2023.
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The State Bank of Pakistan (SBP) has issued its Half Year Report for FY23, providing an analysis of the country’s economic performance during the July-December period. The report reveals a deterioration in Pakistan’s macroeconomic conditions, despite some policy-induced improvements in the external current account and primary fiscal balance.
(more…)The Pakistani Rupee (PKR) faced further depreciation against the US dollar, falling by 20 paisas on Friday. This decline is attributed to a scarcity of inflows, resulting in a decrease in foreign exchange reserves.
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