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 appreciates by 32 paisas ahead of Eid holidays
KARACHI: The Pak Rupee gained 32 paisas against the dollar on Friday owing to inflows of home remittances and export receipts. The rupee ended Rs152.28 to the dollar from last day’s closing of Rs152.60 in the interbank foreign exchange market. Currency experts said that demand for dollar was remained in the market due to extended…
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SBP allows opening of banks during Eid holidays
KARACHI: The State Bank of Pakistan (SBP) on Thursday directed banks to open their 50 percent branches on May 10 and 11, 2021 during Eid holidays to facilitate trade and industry. In a statement, the central bank said that in order to ensure the availability of banking services to trade and industry in particular and…
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Rupee strengthens 44 paisas against dollar
KARACHI: The Pak Rupee gained 44 paisas against the dollar on Thursday despite demand for import payments ahead of extended Eid holidays. The rupee ended Rs152.60 to the dollar from last day’s closing of Rs153.04 in the interbank foreign exchange market. Currency experts said that demand for dollar was remained in the market due to…
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ECC approves Rs10 billion as reimbursement of transfer charges to banks
ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) on Wednesday approved Rs10 billion for re-reimbursement of telegraphic transfer charges to the banks on home remittances. Federal Minister for Finance and Revenue Shaukat Tarin chaired the meeting. The Technical Supplementary Grants were approved by ECC in its meeting held on Wednesday: • Rs.10 billion for the…
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Rupee makes 20 paisas gain against dollar
KARACHI: The Pak Rupee gained 20 paisas against the dollar on Wednesday owing to inflows of workers’ remittances and export receipts. The rupee ended Rs153.04 to the dollar from previous day’s closing of Rs153.24 in the interbank foreign exchange market. Currency dealers said that the rupee was appreciated due to inflows of Eid related remittances.…
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Bank holidays for Eid announced
KARACHI: Banks shall observe six days holidays on the occasion of Eid-ul-Fitr. The State Bank of Pakistan (SBP) on Tuesday said that it will remain closed from 10th to 15th May, 2021 (Monday to Saturday) on the occasion of Eid-ul-Fitr. Simultaneously, banks shall also observe the holidays on the said dates. However, through another notification…
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Rupee appreciates by 12 paisas
KARACHI: The Pak Rupee gained 12 paisas against the dollar on Tuesday owing to inflows of workers’ remittances and export receipts. The rupee ended Rs153.24 to the dollar from previous day’s closing of Rs153.36 in the interbank foreign exchange market. Currency experts said that the rupee was appreciated due to inflows of Eid related remittances.…
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Banks to remain open on May 08
KARACHI: State Bank of Pakistan (SBP) on Tuesday directed to banks to observe working hours on May 08, 2021 to facilitate their customers ahead of Eid-ul-Fitr. The central bank said that in the wake of forthcoming Eid-ul-Fitr holidays from May 10 – May 15, 2021 and to cater the banking needs of public at large,…
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Govt. to borrow Rs4,100 billion through sale of MTBs
KARACHI: The government has announced to borrow around $s4,100 billion through auction of market treasury bills (MTBs) during three months in order to meet budget financing. The State Bank of Pakistan (SBP) on Monday issued schedule for the auction of three-, six- and 12-month treasury bills. Out of scheduled sale of Rs4,100 billion treasury bills,…
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Rupee gains nine paisas against dollar
KARACHI: The Pak Rupee gained nine paisas against the dollar on Monday owing to improved inflows of export receipts. The rupee ended Rs153.36 to the dollar from last Friday’s closing of Rs153.45 in the interbank foreign exchange market. Currency experts said that the inflows of export receipts helped the rupee to make gain on the…
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