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 19 paisas on import payment demand
KARACHI: The Pak Rupee fell by 19 paisas against the dollar on Monday owing to higher demand for import and corporate payments. The rupee ended Rs160.32 to the dollar from last Friday’s closing of Rs160.13 in the interbank foreign exchange market. Currency experts said that the higher dollar demand was due to the market was…
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Key data of banking system: bank accounts top 60 million
KARACHI: Around 60 million bank accounts are in the country having population of 208.31 million, the State Bank of Pakistan (SBP) said in a report. The SBP in its report on payment system released this week said that the currency circulation by September 30, 2020 was at Rs6,422 billion. According to the central bank the…
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President praises SBP, banks for progress in financial inclusion of disable persons
KARACHI: The President of Pakistan, Dr. Arif Alvi has appreciated efforts of State Bank of Pakistan (SBP) and performance of banks in improving the accessibility infrastructure at banks for persons with disabilities and lauded their efforts for increasing financial inclusion of persons with disabilities. The president shared his view in an online meeting with the…
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Rupee makes four paisas gain against dollar
KARACHI: The Pak Rupee made four paisas gain against the dollar on Friday amid demand for import and corporate payments. The rupee ended Rs160.13 to the dollar from previous day’s closing of Rs160.17 in the interbank foreign exchange market. Currency dealers said that the demand for the foreign currency was higher due to last trading…
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E-commerce transactions through debit cards up by 152 percent
KARACHI: The online payment through debit cards for e-commerce registered phenomenal growth of 152 percent in first quarter of current fiscal year, according to data released by State Bank of Pakistan (SBP) on Thursday.
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Rupee strengthens by 29 paisas on inflows
KARACHI: The Pak Rupee strengthened by 29 paisas against the dollar on Thursday owing to reports of growth in exports of the country. The rupee ended Rs160.17 to the dollar from previous day’s closing of Rs160.46 in the interbank foreign exchange market. Currency dealers said that the market witnessed supply of the foreign currency that…
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SBP issues guidelines for e-commerce exporters
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued guidelines for e-commerce exporters in order to promote such exports from Pakistan. The SBP said that in order to promote Business-to-Consumer (B2C) e-Commerce exports from Pakistan, State Bank of Pakistan has reviewed the aforementioned instructions to align these with the changing business dynamics of e-commerce exports.…
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Rupee falls by 64 paisas on payment demand
KARACHI: The Pak Rupee fell by 64 paisas against the dollar on Wednesday owing to payment demand for import and corporate payments. The rupee ended 160.46 to the dollar from the previous day’s closing of Rs159.82 in the interbank foreign exchange market. Currency dealers said that the demand for import and corporate payments was higher…
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Rupee weakens by 40 paisas against dollar
KARACHI: The Pak Rupee fell by 40 paisas against the dollar on Tuesday owing to payment demand for import and corporate payments. The rupee ended 159.82 to the dollar from the previous day’s closing of Rs159.42 in the interbank foreign exchange market. Currency dealers said that the demand for import and corporate payments was higher…
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SBP makes mandatory for banks to construct ramps for disable persons
KARACHI: State Bank of Pakistan (SBP) on Monday made it mandatory for all banks to construct ramps at their branches for persons with disabilities. The SBP said it had decided to make it mandatory for all banks/ MFBs/ DFIs to construct ramps at all newly opened and existing place of business (excluding Mobile Banking Units)…
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