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.
KARACHI: State Bank of Pakistan (SBP) has notified banking times during lockdown to prevent spread of coronavirus.
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KARACHI: The US dollar hits all time high against dollar in intraday trading on Thursday and reached at Rs165.
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KARACHI: The interbank foreign exchange market ended at Rs161.60 to the dollar on Wednesday, marking a sharp fall of Rs2.60 paisas from the previous day’s closing, according to the closing rate provided by the State Bank of Pakistan (SBP).
(more…)KARACHI: The Pak Rupee massively depreciated by Rs3 in intraday trading after significant outflows of hot money, market sources said.
(more…)KARACHI: State Bank of Pakistan (SBP) has allowed import of medical equipment for treatment of coronavirus against 100 percent advance payment and open account.
(more…)KARACHI: The State Bank of Pakistan (SBP) on Tuesday announced reduction of 150 basis points in key policy rate to bring it at 11 percent. The central bank cut the policy rate second time in last seven days considering massive deterioration in the economy due to large scale spread of coronaviruse.
(more…)The Pak Rupee experienced a decline of 33 paisas against the US dollar on Tuesday, driven by increased demand for import payments and prevailing uncertainty in the equity market. The rupee closed at Rs159.00 to the dollar, down from last Friday’s rate of Rs158.67 in the interbank foreign exchange market.
(more…)KARACHI: State Bank of Pakistan (SBP) on Monday directed all banks to operate their branches with bare minimum staff during measures taken by the authorities to fight against coronavirus.
(more…)KARACHI: The Pak Rupee ended down by 10 paisas against dollar on Friday owing to higher demand of the foreign currency for import payment.
The rupee ended Rs158.67 to the dollar from previous day’s closing of Rs158.57 in interbank foreign exchange market.
Currency dealers said that the higher demand for dollars depressed the rupee value. They said that the higher dollar demand was due to import of Ramazan related commodities.
The exchange rate in open market witnessed some changes in rupee value. The buying and selling of dollar was recorded at Rs158.00/Rs158.50 from previous day’s closing of Rs157.50/Rs158.50 in cash ready market.
KARACHI: The Pak Rupee fell by five paisas against dollar on Thursday due to rise in demand for import payment.
The rupee ended Rs158.57 to the dollar from previous day’s closing of R$158.52 in interbank foreign exchange market.
Currency dealers said that rise in demand for import payment depreciated the local currency. They said that majority of dollar demand was for the payment of imported commodities related to holy month of Ramazan.
The exchange rate in open market was remained unchanged. The dollar buying and selling was recorded at Rs157.50/Rs158.50, the same previous day’s closing, in cash ready market.