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, January 31, 2025 – The Pakistani rupee posted a marginal gain of 2 paisas against the US dollar on Friday, despite persistent demand for foreign payments in the interbank market.
(more…)Karachi, January 30, 2025 – The Pakistani rupee weakened by 10 paisas against the US dollar on Thursday, impacted by foreign outflows driven by import and corporate payments.
(more…)Karachi, January 29, 2025 – The Pakistani rupee managed to recover 6 paisas against the US dollar on Wednesday, ending at PKR 278.87 in the interbank foreign exchange market, after experiencing a decline for three consecutive sessions. The previous day’s closing stood at PKR 278.93, marking a modest recovery.
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Karachi, January 29, 2025 – The Institute of Cost and Management Accountants of Pakistan (ICMAP) has called upon the State Bank of Pakistan (SBP) to take a bolder and more proactive approach in reducing the policy rate, emphasizing the need for decisive action to stimulate economic growth and investment.
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Karachi, January 28, 2025 – The State Bank of Pakistan (SBP), led by Governor Jameel Ahmad, has awarded the country’s first-ever Digital Retail Bank (DRB) license to Easypaisa Bank Limited, formerly known as Telenor Microfinance Bank Limited.
(more…)Karachi, January 28, 2025 – The Pakistani rupee continued its downward trajectory on Tuesday, falling to PKR 278.93 against the US dollar in the interbank foreign exchange market.
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Karachi, January 27, 2025 – The State Bank of Pakistan (SBP) has announced its plan to initiate the printing of new currency notes featuring advanced security enhancements in the upcoming fiscal year, 2025-26.
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Karachi, January 27, 2025 – The State Bank of Pakistan (SBP) announced a significant reduction in its benchmark policy rate, cutting it by 100 basis points to 12%. The decision, effective from January 28, 2025, was made during the Monetary Policy Committee (MPC) meeting held on Monday.
(more…)Karachi, January 27, 2025 – The Pakistani rupee experienced a slight depreciation at the start of the week, falling by 8 paisas against the US dollar in the interbank foreign exchange market. The rupee closed at PKR 278.83 to the dollar on Monday, compared to last Friday’s closing rate of PKR 278.75.
(more…)Karachi, January 27, 2025 – The State Bank of Pakistan (SBP) is expected to make headlines by announcing a substantial interest rate cut during today’s Monetary Policy Committee (MPC) meeting. Market experts anticipate a rate cut of at least 100 basis points (bps), which would bring the benchmark policy rate down to 12% from the current 13%.
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