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 falls by 60 paisas against dollar
KARACHI: The Pak Rupee fell by 60 paisas against the dollar on Tuesday owing to high for import and corporate payments. The rupee ended Rs156.79 to the dollar from previous day’s closing of Rs156.19 in the interbank foreign exchange market. Currency dealers said that the due to import and corporate payments the rupee was remained…
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Rupee weakens by 45 paisas against dollar
The Pakistani Rupee witnessed a depreciation of 45 paisas against the US Dollar on Monday, closing at Rs156.19 compared to last Friday’s closing rate of Rs155.74 in the interbank foreign exchange market.
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SBP makes changes for facilitating trade through online marketplace
KARACHI: State Bank of Pakistan (SBP) on Monday proposed amendments to foreign exchange manual to facilitate Pakistani exporters to sell their products though online marketplace such as Amazon, e-Bay, Ali Baba etc. The SBP said that continuing with the agenda of modernizing foreign exchange regulations, State Bank of Pakistan has proposed changes in its regulatory…
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Rupee gains 18 paisas against dollar
KARACHI: The Pak Rupee appreciated by 18 paisas against the dollar on Friday ahead of budget announcement and hope of incentives to foreign trade. The rupee closed at Rs155.74 to the dollar from the last day’s closing of Rs155.92 in the interbank foreign exchange market. Currency experts said that market had anticipated incentives in the…
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SBP issues Rs70 coin to commemorate Pak-China relationship
KARACHI: State Bank of Pakistan (SBP) on Thursday issued Rs70 coin to commemorate the diplomatic relationship between Pakistan and China that were established on May 21, 1951. To mark the occasion of 70th anniversary of Pakistan-China Diplomatic relations, the government of Pakistan decided to issue a commemorative coin of Rs.70. The SBP launched the commemorative…
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Rupee falls by 23 paisas against dollar
KARACHI – On Thursday, the Pakistani Rupee faced a decline of 23 paisas against the US Dollar, closing at Rs155.92 in the interbank foreign exchange market.
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Rupee gains nine paisas against dollar
KARACHI: The Pak Rupee gained nine paisas against the dollar on Wednesday on inflows of the foreign currency during the day. The rupee ended Rs155.69 to the dollar from previous day’s closing of Rs155.78 in the interbank foreign exchange market. Currency experts said that the inflows of export receipts and workers’ remittances helped the rupee…
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SBP allows mentally disordered persons to open bank account
KARACHI: State Bank of Pakistan (SBP) has allowed mentally disordered persons to open bank account through a well-defined account opening process, a statement said on Tuesday. The process has been devised after thorough consultation with stakeholders. Now, for the first time in Pakistan, mentally disordered persons will be able to open a bank account under…
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Rupee weakens by 47 paisas against dollar
KARACHI: The Pak Rupee ended down by 47 paisas against the dollar on Tuesday owing to year end demand for corporate and import payments. The rupee ended Rs155.78 to the dollar from previous day’s closing of Rs155.31 in the interbank foreign exchange market. Currency dealers said that the market witnessed higher demand for dollar as…
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Rupee falls by 69 paisas on import payment demand
KARACHI: The Pak Rupee fell by 69 paisas against the dollar on Monday owing to higher demand for import payments as the market opened after two weekly holidays. The rupee ended Rs155.31 to the dollar from last Friday’s closing of Rs154.62 in the interbank foreign exchange market. Currency experts said that the rupee was weakened…
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