Category: Money & Banking

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.

  • Rupee gains 46 paisas in interbank market

    Rupee gains 46 paisas in interbank market

    The Pak Rupee made notable progress against the US Dollar on Wednesday, appreciating by 46 paisas amid improved inflows of remittances sent by overseas Pakistanis. This positive movement reflects the currency’s resilience in the interbank foreign exchange market.

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  • Rupee gains 39 paisas on improved inflows

    Rupee gains 39 paisas on improved inflows

    KARACHI: The Pak Rupee gained 39 paisas against dollar on Tuesday owing to improved inflows of export receipts and home remittances.

    The rupee ended Rs160.06 to the dollar as compared with the previous day’s closing of Rs160.45 in interbank foreign exchange market.

    Currency experts said that the improved inflows of export receipts and home remittances helped the rupee to recover value against the greenback.

    The foreign exchange market was initiated in the range of Rs160.45 and Rs160.55. The market recorded day high of Rs160.59 and low of Rs160.00.

    The exchange rate in open market also witnessed improvement in rupee value. The buying and selling of dollar was recorded at Rs159.00/160.00 from previous day’s closing of Rs160.00/Rs160.50 in cash ready market.

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    Rupee gains 14 paisas in interbank market

  • SBP advises public not to share banking information

    SBP advises public not to share banking information

    KARACHI: State Bank of Pakistan (SBP) has advised the public not to share their banking information to fake calls.

    In a statement issued on Monday, the SBP said that it had come to the central bank’s knowledge that fraudsters were attempting to defraud the banking customers by seeking bank account details on the pretext of biometric verification.

    In many cases, this is being done through fake calls by masking the official helpline or registered numbers of banks.

    The receivers apparently believe that the call is genuine or from the bank and share their personal information including bank Account Number, ID, Password, CNIC Number, etc. resulting in loss of funds even during the calls.

    The fraudsters generally impersonate as officials of State Bank of Pakistan, Army Officer or representative of Superior Courts of law, etc. on pretext of biometric verification of accounts.

    In this context, public is advised to immediately contact their banks on their registered numbers/helpline themselves instead of responding the incoming calls and sharing their credentials.

    It is informed that SBP/Banks/Micro Finance Banks do not conduct biometric verification of Banks’ existing customers through telephone calls. If public receive any such call, they may share details of these cases/incidents with law enforcement agencies or SBP helpline at 021-111-727-273 or email at [email protected].

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  • Rupee gains 14 paisas in interbank market

    Rupee gains 14 paisas in interbank market

    KARACHI: The Pak Rupee 14 paisas against dollar on Monday owing to improved sentiments following approval of the US support.

    The rupee ended Rs160.45 to the dollar from last Friday’s closing of Rs160.59 in interbank foreign exchange market.

    The foreign currency market was initiated in the range of Rs160.45 and Rs160.60. The market recorded day high of Rs160.59 and low of Rs160.40 in interbank foreign exchange market.

    Currency experts said that improved sentiments helped the rupee to gain the value. The US administration last week approved support to sale fighter jet to Pakistan after the successful visit of Prime Minister Imran Khan.

    The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs160.00/Rs160.50, the same previous value, in cash ready market.

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    Rupee ends down by 14 paisas in interbank market

  • SBP revises refinance scheme for renewable energy

    SBP revises refinance scheme for renewable energy

    The State Bank of Pakistan (SBP) on Friday announced a revised refinancing scheme aimed at boosting renewable energy projects. The new scheme sets a maximum loan amount of Rs6 billion for individual projects up to 50 megawatts.

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  • Rupee ends down by 14 paisas in interbank market

    Rupee ends down by 14 paisas in interbank market

    KARACHI: The Pak Rupee ended down by 14 paisas against dollar on Friday owing to advance payments ahead of weekly holidays.

    The rupee closed at Rs160.59 to the dollar from previous day’s closing of Rs160.45 in interbank foreign exchange market.

    The foreign currency market was initiated in the range of Rs160.50 and Rs160.60. The market recorded day high of Rs160.60 and low of Rs160.50 and closed at Rs160.59 in interbank foreign exchange market.

    Currency experts said that the rupee was under pressure due to higher demand for import and corporate payments ahead of two weekly holidays.

    The exchange rate in open market, however, witnessed gain in rupee value. The buying and selling of dollar was recorded at Rs160.00/Rs160.50 from previous day’s closing of Rs160.20/Rs160.70 in cash ready market.

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    Rupee gains 33 paisas in interbank market

  • Rupee gains 33 paisas in interbank market

    Rupee gains 33 paisas in interbank market

    KARACHI: The Pak Rupee gained 33 paisas against dollar on Thursday owing to positive sentiments prevailed following successful visit of the US by Prime Minister Imran Khan.

    The rupee ended Rs160.45 to the dollar from previous day’s closing of Rs160.78 in interbank foreign exchange market.

    The foreign currency market was initiated in the range of Rs160.45 and Rs160.75 in interbank foreign exchange market. The market recorded day high of Rs160.70 and low of Rs160.45 in interbank foreign exchange market.

    Currency experts said that the local unit may under pressure in coming days due to higher import and corporate payments.

    The exchange rate in open market also witnessed appreciated in rupee value. The buying and selling of dollar was recorded at Rs160.20/Rs160.70 as compared with previous day’s closing of Rs160.30/Rs160.80 in cash ready market.

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    Rupee falls by 19 paisas in interbank market

  • Rupee falls by 19 paisas in interbank market

    Rupee falls by 19 paisas in interbank market

    KARACHI: The Pak Rupee fell by 19 paisas against dollar on Wednesday owing to higher demand for import and corporate payments.

    The rupee ended at Rs160.78 to the dollar from previous day’s closing of Rs160.59 in interbank foreign exchange market.

    The foreign currency market was initiated in the range of Rs160.50 and Rs160.75. The market recorded day high of Rs160.90 and low of Rs160.75 and ended at Rs160.78 in interbank foreign exchange market.

    Currency experts said that the rupee was under pressure due to higher corporate demands as multinational companies were set to announce their financial results and repatriate their profit in dollar term.

    The exchange rate in open market also witnessed depreciation in rupee value. The buying and selling of dollar was recorded at Rs159.90/Rs160.90 from previous day’s closing of Rs159.60/Rs160.60 in cash ready market.

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    Rupee ends down by six paisas in interbank market

  • SBP asks banks to provide shipment details in advance payment cases

    SBP asks banks to provide shipment details in advance payment cases

    KARACHI: State Bank of Pakistan (SBP) has directed banks to provide details of shipments made against advance payments during a month.

    The SBP has made changes in the existing International Transactions Reporting System (ITRS) that will be reported by the authorized dealers.

    The SBP said that a new schedule A-4/O-4 has been introduced in ITRS for capturing utilization against advance payments recorded on Advance Payment Vouchers (APV) and reported through ITRS schedule A- 2/O-2.

    The banks will use this schedule for reporting shipments made during the reference month against advance payments received earlier, the SBP said.

    Purpose of Schedule A-1/O-1 has been revised to capture all post-shipment export proceeds including final/full as well as part payments other than advance payments.

    Purpose of Schedule A-2/O-2 has also been revised to capture only APVs. Part payments will be reported on schedule A-1/O-1, the SBP said.

    Two variables have been added in schedule E-4/P-4 for reporting reference of refund on M-form against exports proceeds realized earlier.

    CNIC has been made mandatory for non-business transactions in schedule E-4/P-4

    Updated ITRS client application for banks / Authorized Dealers has been placed on Knowledge Centre of SBP Data Acquisition Portal (DAP).

    The central bank advised the authorized dealers to use revised format for reporting data pertaining to Jul 2019 onwards.

  • Rupee ends down by six paisas in interbank market

    Rupee ends down by six paisas in interbank market

    KARACHI: The Pak Rupee ended down by six paisas against dollar on Tuesday amid demand from importer and corporate sector for the foreign currency.

    The rupee ended at Rs160.59 to the dollar from previous day’s closing of Rs160.53 in interbank foreign exchange market.

    The foreign currency market was initiated in the range of Rs160.35 and Rs160.50. The market recorded day high of Rs160.65 and low of Rs160.15 in interbank foreign exchange market.

    Currency experts said that the local currency was under pressure due to scheduled payments for foreign debts and higher demand for import payments.

    The exchange rate in open market witnessed appreciation in rupee value. The buying and selling of dollar was recorded at Rs159.60/Rs160.60 from previous day’s closing of Rs160.20/Rs160.70 in cash ready market.

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    Rupee falls by 34 paisas in interbank market