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.
Category: Money & Banking
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KIBOR rates for August 13, 2021
KARACHI: State Bank of Pakistan (SBP) on Friday issued following Karachi Interbank Offered Rates (KIBOR) on August 13, 2021. Tenor BID OFFER 1 – Week 6.91 7.41 2 – Week 6.94 7.44 1 – Month 7.01 7.51 3 – Month 7.14 7.39 6 – Month 7.29 7.54 9 – Month 7.43 7.93 1 – Year…
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Dollar maintains Rs164 in interbank
KARACHI: The US dollar remained at Rs164 to the dollar on Friday as demand for import payments persisted. The Pak Rupee closed at Rs164 to the dollar from the previous day’s closing of Rs164.01 in the interbank foreign exchange market. Currency experts said that the market witnessed higher demand for the dollar on the last…
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Meezan Bank declares Rs12.6 billion net profit in 1HCY21
KARACHI: Meezan Bank Limited has reported a significant increase in its net profit, reaching Rs 12.6 billion for the first half of the calendar year 2021 (January–June). This reflects an 8% growth compared to the Rs 11.7 billion net profit recorded during the same period last year, according to the bank’s financial results announced on…
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KIBOR rates for August 12, 2021
KARACHI: State Bank of Pakistan (SBP) on Thursday issued following Karachi Interbank Offered Rates (KIBOR) on August 12, 2021. Tenor BID OFFER 1 – Week 6.87 7.37 2 – Week 6.93 7.43 1 – Month 6.99 7.49 3 – Month 7.14 7.39 6 – Month 7.32 7.57 9 – Month 7.43 7.93 1 – Year…
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Rupee falls to Rs164.01 against dollar
KARACHI: The Pak Rupee ended down by nine paisas against the dollar on Wednesday owing to higher import payment demand. The rupee ended Rs164.01 to the dollar from the previous day’s closing of Rs163.92 in the interbank foreign exchange market. Currency experts said that the ease in coronavirus restrictions had increased the demand for import…
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KIBOR rates for August 11, 2021
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued following Karachi Interbank Offered Rates (KIBOR) on August 11, 2021. Tenor BID OFFER 1 – Week 6.91 7.41 2 – Week 6.95 7.45 1 – Month 7.00 7.50 3 – Month 7.15 7.40 6 – Month 7.35 7.60 9 – Month 7.44 7.94 1 – Year…
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MCB Bank’s 2QCY21 results above market expectations
KARACHI: MCB Bank on Wednesday announced a profit after tax of Rs7.9 billion for second quarter ended June 30, 2021. Analysts at Khadi Ali Shah Bukhari (KASB) said that the result is above estimates and street consensus. The deviation is mainly on account of recognition of provisioning reversal worth Rs1.8 billion during the quarter. The…
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Dollar advances to Rs163.92 in interbank
KARACHI: The US Dollar appreciated to Rs163.92 in the interbank foreign exchange market on Wednesday. The market witnessed higher demand for the foreign currency for import payment. The closing rate of the dollar in the interbank foreign exchange market was Rs163.75. Currency experts said that value of the Pak Rupee (PKR) eased against the dollar…
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Bank holiday announced on August 14
KARACHI: The State Bank of Pakistan (SBP) on Tuesday announced bank holiday on August 14, 2021. The State Bank will remain closed on Saturday, August 14, 2021 on the occasion of Independence Day as declared by the government of Pakistan. The central bank through a circular informed the presidents and chief executives of all banks,…
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KIBOR rates for August 10, 2021
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued following Karachi Interbank Offered Rates (KIBOR) on August 10, 2021. Tenor BID OFFER 1 – Week 6.91 7.41 2 – Week 6.95 7.45 1 – Month 7.00 7.50 3 – Month 7.15 7.40 6 – Month 7.35 7.60 9 – Month 7.45 7.95 1 – Year…
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