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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Rupee depreciates by 60 paisas against dollar
KARACHI: The Pak Rupee depreciated by 60 paisas against the dollar on Monday as demand for import and corporate payments was remained high. The rupee closed at Rs158.22 to the dollar from last Friday’s closing of Rs157.62 in the interbank foreign exchange market. The currency experts said that the demand for foreign payments was higher…
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Key details of banking infrastructure in Pakistan
KARACHI: The State Bank of Pakistan (SBP) on Monday issued key details of banking infrastructure in the country as on March 31, 2021. According to the details total 44 banks are operating in the country with 16,223 branches country-wide. Commercial and specialized bank branches are 15,015. While Microfinance branches are 1,208. Number of Real Time…
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Bank holiday on July 01
KARACHI: The State Bank of Pakistan (SBP) on Monday announced bank holiday on July 01, 2021 as all banks shall remained closed for public dealing. According to a circular issued, the SBP will remained closed for public dealing on Thursday July 01, 2021 which shall be observed as bank holiday enabling bank to close its…
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SBP issues customers exchange rates on June 28, 2021
KARACHI: The State Bank of Pakistan (SBP) on Monday issued customers’ exchange rates on the basis of weighted average rates of commercial banks. The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients. They…
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Mobile, internet banking transactions grow more than double: SBP
KARACHI: The value of mobile banking, internet banking and e-commerce transactions all more than doubled during the third quarter of 2020/2021 when compared with the same period last year, State Bank of Pakistan (SBP) said on Monday. Encouragingly, the number of internet and mobile banking users has also been increasing significantly, up 30.5 percent and…
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KIBOR rates on June 25, 2021
KARACHI: State Bank of Pakistan (SBP) on Friday issued following Karachi Interbank Offered Rates (KIBOR) on June 25, 2021. Tenor BID OFFER 1 – Week 6.87 7.37 2 – Week 6.92 7.42 1 – Month 7.01 7.51 3 – Month 7.21 7.46 6 – Month 7.44 7.69 9 – Month 7.50 8.00 1 – Year…
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Rupee strengthens by six paisas against dollar
KARACHI: The Pak Rupee made a gain of six paisas against the dollar on Friday owing to sufficient supply of the foreign currency during the day. The rupee ended at Rs157.62 to the dollar as compared with last day’s closing of Rs157.68 in the interbank foreign exchange market. Currency experts said that the rupee strengthened…
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SBP issues customers exchange rates on June 25, 2021
KARACHI: The State Bank of Pakistan (SBP) on Friday issued the exchange rate of foreign currencies in the rupee in the open market. The SBP said the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients. They are…
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Rupee makes gain 85 paisas against dollar
KARACHI: The Pak Rupee made a gain of 85 paisas against the dollar on Thursday owing to sufficient supply of export receipts and workers’ remittances. The rupee ended at Rs157.68 to the dollar from the previous day’s closing of Rs158.53 in the interbank foreign exchange market. Currency experts said that the market had sufficient supply…
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SBP issues customers exchange rates on June 24, 2021
KARACHI: State Bank of Pakistan (SBP) on Thursday issued weighted average customers’ exchange rates for buying and selling of foreign currencies in the rupee. Following is the table for customers’ exchange rates on June 24, 2021. CURRENCY BUYING SELLING AED 42.9582 43.0524 AUD 119.4487 119.7089 CAD 128.1527 128.4274 CHF 171.5755 171.9517 CNY 24.3795 24.4299 EUR…
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