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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.

  • Foreign exchange rates on September 11, 2021

    Foreign exchange rates on September 11, 2021

    KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 11, 2021:

    CurrencyBuyingSelling
    Australian Dollar122.7124.7
     Bahrain Dinar386.8388.8
     Canadian Dollar134136
     China Yuan23.6523.8
     Danish Krone23.3523.65
     Euro197.5199.5
     Hong Kong Dollar16.5516.8
     Indian Rupee2.032.1
     Japanese Yen1.411.44
     Kuwaiti Dinar481.85484.4
     Malaysian Ringgit36.6537
     NewZealand $96.3597.05
     Norwegians Krone17.517.75
     Omani Riyal392.7394.7
     Qatari Riyal39.640.2
     Saudi Riyal44.845.3
     Singapore Dollar122.7124.7
     Swedish Korona1818.25
     Swiss Franc159.5160.4
     Thai Bhat4.84.9
     U.A.E Dirham46.346.8
     UK Pound Sterling230.5232.5
     US Dollar168169

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    Foreign exchange rates on September 10, 2021
  • SBP to announce monetary policy on September 20

    SBP to announce monetary policy on September 20

    KARACHI: The State Bank of Pakistan (SBP) on Friday said that monetary policy for the next two months will be announced on September 20, 2021.

    The SBP said that the Monetary Policy Committee of SBP will meet on Monday, September 20, 2021, at SBP Karachi to decide about the Monetary Policy.

    It would be pertinent to mention here that SBP issued an advanced calendar of MPC meetings earlier in May 2021 through a press release (https://www.sbp.org.pk/press/2021/Pr-20-May-21.pdf) and all the meetings are being held accordingly.

    The advance calendar is also available at: https://www.sbp.org.pk/m_policy/mp-calendar.asp

    In the last monetary policy announcement on July 27, 2021, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 7 percent.

    The decision has been taken because since its last meeting in May, the MPC was encouraged by the continued domestic recovery and improved inflation outlook following the recent decline in food prices and core inflation.

    In addition, consumer and business confidence have risen to multi-year highs and inflation expectations have fallen.

    As a result of these positive developments, growth is projected to rise from 3.9 percent in FY21 to 4 – 5 percent this year, and average inflation to moderate to 7 – 9 percent this year from its recent higher out-turns.

    Imports are expected to grow on the back of the domestic recovery and rebound in global commodity prices, albeit more moderately than in FY21.

    The MPC noted that the market-based flexible exchange rate system, resilience in remittances, an improving outlook for exports, and appropriate macroeconomic policy settings should help contain the current account deficit in a sustainable range of 2 – 3 percent of GDP in FY22.

    Notwithstanding this moderate current account deficit, the country’s foreign exchange reserves position is expected to continue to improve this year due to adequate availability of external financing.

    Against this backdrop, the MPC felt that the uncertainty created by the ongoing fourth Covid wave in Pakistan and the global spread of new variants warrants a continued emphasis on supporting the recovery through accommodative monetary policy.

    State Bank decides to maintain policy rate at 7pc
  • KIBOR rates on September 10, 2021

    KIBOR rates on September 10, 2021

    KARACHI: State Bank of Pakistan (SBP) on Friday issued the following Karachi Interbank Offered Rates (KIBOR) on September 10, 2021.

     TenorBIDOFFER
    1 – Week6.907.40
    2 – Week6.957.45
    1 – Month7.017.51
    3 – Month7.157.40
    6 – Month7.367.61
    9 – Month7.447.94
    1 – Year7.518.01
    KIBOR rates on September 09, 2021
  • Dollar heading towards all-time high against PKR

    Dollar heading towards all-time high against PKR

    KARACHI – The US dollar demand reached new heights on Friday, heading towards an all-time high against the Pakistani Rupee (PKR).

    (more…)
  • SBP issues customers exchange rates for September 10

    SBP issues customers exchange rates for September 10

    Karachi, September 10, 2021 – The State Bank of Pakistan (SBP) has released the exchange rates for customers on Friday, September 10, 2021.

    (more…)
  • Pak Rupee to Saudi Riyal on September 10, 2021

    Pak Rupee to Saudi Riyal on September 10, 2021

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on September 10, 2021:

    Buying: Rs 44.50 to the Saudi Riyal

    Selling: Rs 45.00 to the Saudi Riyal

    We update rates hourly so we can offer you the best SAR to PKR.

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    Pak Rupee to Saudi Riyal on September 9, 2021
  • Pak Rupee to Euro on September 10, 2021

    Pak Rupee to Euro on September 10, 2021

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on September 10, 2021:

    Buying: Rs 197 to the Euro

    Selling: Rs 199 to the Euro

    We update rates hourly so we can offer you the best EUR to PKR.

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    Pak Rupee to Euro on September 9, 2021
  • Foreign exchange rates on September 10, 2021

    Foreign exchange rates on September 10, 2021

    KARACHI: Following are the exchange rates of foreign currencies in Pak Rupee (PKR) on September 10, 2021:

    01. US Dollar to PKR >>1 USD= Rs 169

    02. UK Pound Sterling to PKR >> 1 GBP= Rs 232.50

    03. Euro to PKR >> 1 EUR= Rs 199

    04. UAE Dirham to PKR >> 1 AED= Rs 46.50

    05. Saudi Riyal to PKR >> 1 SAR= Rs 45

    06. Australian Dollar to PKR >> 1 AUD= Rs 124.20

    07. Bahrain Dinar to PKR >> 1 BHD= Rs 388.80

    08. Canadian Dollar to PKR >> 1 CAD= Rs 135

    09. Chinese Yuan to PKR >> 1 CNY= Rs 23.80

    10. Danish Krone to PKR >> 1 DKK= Rs 23.65

    11. Hong Kong Dollar to PKR >> 1 HKD= Rs 16.80

    12. Indian Rupee to PKR >> 1 INR= Rs 2.10

    13. Japanese Yen to PKR >> 1 JPY= Rs 1.44

    14. Kuwaiti Dinar to PKR >> 1 KWD= Rs 484.40

    15. Malaysian Ringgit to PKR >> 1 MYR= Rs 37

    16. New Zealand Dollar to PKR >> 1 NZD= Rs 97.05

    17. Norwegians Krone to PKR >> 1 NOK= Rs 17.75

    18. Omani Riyal to PKR >> 1 OMR= Rs 394.70

    19. Qatari Riyal to PKR >> 1 QAR= Rs 40.20

    20. Singapore Dollar to PKR >> 1 SGD= Rs 124.20

    21. Swedish Korona to PKR >> 1 SEK= Rs 18.25

    22. Swiss Franc to PKR >> 1 CHF= Rs 160.40

    23. Thai Bhat to PKR >> 1 THB= Rs 4.90

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • KIBOR rates on September 09, 2021

    KIBOR rates on September 09, 2021

    KARACHI: State Bank of Pakistan (SBP) on Thursday issued the following Karachi Interbank Offered Rates (KIBOR) on September 09, 2021.

     TenorBIDOFFER
    1 – Week6.917.41
    2 – Week6.967.46
    1 – Month7.017.51
    3 – Month7.147.39
    6 – Month7.317.56
    9 – Month7.417.91
    1 – Year7.508.00
    KIBOR rates on September 08, 2021
  • Interbank rate: PKR ends down by 41 paisas to dollar

    Interbank rate: PKR ends down by 41 paisas to dollar

    KARACHI: The US dollar made a gain of 41 paisas against the Pak Rupee (PKR) on Thursday.

    The rupee weakened despite the announcement of the government to make trade in Pak Rupee with neighboring country Afghanistan.

    The rupee ended at Rs167.66 to the dollar from the previous day’s closing of Rs167.25 in the interbank foreign exchange market.

    Currency experts said that the dollar demand remained high during the day for import and corporate payments. They said that dollar outflow to Afghanistan was also a big concern for rupee stability.

    However, in order to address the Afghan trade problem, the Pakistan government decided to trade Afghanistan in the Pak Rupee.

    The dealers said that the external payment kept the exchange rate under pressure during the current fiscal year. The rupee is near to the all-time low of Rs168.44 against the dollar, which was recorded on August 26, 2020.

    Rupee rebounds against dollar in interbank