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
-
Rupee makes 17 paisas gain against dollar
The Pakistani rupee experienced a notable gain of 17 paisas against the US dollar on Friday, closing at Rs154.62 in the interbank foreign exchange market.
Written by
-
Rupee eases by 2 paisas against dollar
KARACHI: The Pak Rupee fell by 2 paisas against dollar on Thursday owing to demand for import payment.The rupee closed at Rs 145.79 to the dollar from previous day’s closing of Rs 154.77 in the interbank foreign exchange market.Currency experts said that due to fiscal year end the local currency was under pressure as importers…
Written by
-
Rupee falls by 23 paisas on import demand
KARACHI: The Pak Rupee fell by 23 paisas against dollar on Wednesday owing to demand for import payment. The rupee closed at Rs 145.77 to the dollar from previous day’s closing of Rs 154.54 in the interbank foreign exchange market. Currency experts said that due to fiscal year end the local currency was under pressure…
Written by
-
SBP amends regulations to promote real estate sector
Karachi: In order to provide further support to the development of real estate sector, State Bank of Pakistan (SBP) has amended its capital adequacy regulations by significantly lowering the applicable risk weight (from 200% to 100%) on banks/ DFIs’ investments in the units of Real Estate Investment Trusts (REITs). REITs are companies that raise funding…
Written by
-
Dollar gains 14 paisas in interbank
KARACHI: The Pak Rupee fell by 14 paisas against the dollar on Tuesday owing to high demand for import and corporate payments. The rupee ended Rs153.54 to the dollar from previous day’s closing of Rs153.40 in the interbank foreign exchange market. Currency experts said that the market was under pressure due to dollar demand for…
Written by
-
Rupee gains three paisas amid demand for foreign payments
KARACHI: The Pak Rupee gained three paisas against the dollar on Monday despite higher demand of the foreign currency for import and corporate payments. The rupee ended Rs154.40 to the dollar from last Friday’s closing of Rs154.43 in the interbank foreign exchange market. Currency experts said that due to first trading day the demand for…
Written by
-
Rs5000 banknote proposed to withdraw from circulation
KARACHI: A former chairman of Federal Board of Revenue (FBR) has recommended the government to stop the circulation of Rs5000 banknote and phase out in circulation the banknote within one year. Syed Shabbar Zaidi, former FBR chairman, submitted his proposals for budget 2021/2022 to Prime Minister Imran Khan. “There has to be gradual evaporation of…
Written by
-
Key policy rate kept unchanged at 7pc on improved GDP growth forecast
KARACHI: The Monetary Policy Committee (MPC) on Friday decided to keep the key policy rate unchanged at 7 percent owing to improved GDP growth forecast to 3.94 percent and hope of further higher growth in the next fiscal year. A statement issued by the State Bank of Pakistan (SBP) said that since its last meeting…
Written by
-
Rupee recovers 41 paisas against dollar
KARACHI: The Pak Rupee recovered 41 paisas against the dollar on Friday owing to improved inflows of workers’ remittances and export receipts. The rupee ended at Rs154.43 to the dollar from previous day’s closing of Rs154.84 in the interbank foreign exchange market. Currency experts said that the sufficient supply of the foreign currency was available…
Written by
-
Rupee depreciates by six paisas in interbank
KARACHI: The Pak Rupee ended down by six paisas against the dollar on Thursday due to demand for import and corporate payments. The rupee closed at Rs154.84 to the dollar from previous day’s closing of Rs154.78 in the interbank foreign exchange market. Currency experts said that the due to improved GDP growth forecast the domestic…
Written by