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 Weakens by 15 Paisas Amid Rising Dollar Demand

Karachi, December 23, 2024 – The Pakistani rupee depreciated by 15 paisas against the US dollar on Monday, as increased demand for the greenback weighed on the local currency. The rupee closed at PKR 278.57 per dollar in the interbank market, compared to last Friday’s closing of PKR 278.42 per dollar.
(more…)

December 23, 2024
Dogecoin Spikes After Trump Announces Key Appointment

The cryptocurrency Dogecoin (DOGE/USD) experienced a significant surge late Sunday night following an announcement from President-elect Donald Trump about a key appointment to the Department of Government Efficiency (DOGE). This department, overseen by billionaire Elon Musk and former presidential candidate Vivek Ramaswamy, is set to play a pivotal role in streamlining the federal government.
(more…)

December 23, 2024
Banks Push Rs 1.35 Trillion Loans Amid ADR Crisis

Karachi, December 22, 2024 – Banks have extended loans to private sector amounting Rs 1.35 trillion during the period between July 1, 2024 to December 6, 2024 in desperation to meet Asset to Deposit Ratio (ADR).
(more…)

December 22, 2024
Rupee Anticipates Pressure Amid Year-End Dollar Demand

The rupee is expected to face mounting pressure next week due to heightened dollar demand for debt servicing, year-end import obligations, and other financial commitments, according to a report released.
(more…)

December 22, 2024
SBP Declares Bank Holiday for Quaid-e-Azam Day and Christmas

Karachi, December 21, 2024 – The State Bank of Pakistan (SBP) has officially declared a bank holiday on Wednesday, December 25, 2024, to observe Quaid-e-Azam Day and Christmas, in line with the public holiday declaration made by the Government of Pakistan.
(more…)

December 21, 2024
Ripple Whales Accumulate Amid Market Crash

Ripple whales are seizing the opportunity presented by the recent market downturn, continuing to accumulate XRP and signaling potential bullish momentum. XRP’s recent performance, alongside broader market trends, reflects renewed investor interest following a period of caution. Furthermore, Ripple’s strategic developments reinforce confidence in the coin’s long-term trajectory.
(more…)

December 21, 2024
Dogecoin Poised for Major Rally: Analyst Predicts

Dogecoin (DOGE) could be regaining its upward momentum, with a crypto analyst predicting a potential recovery. The forecast highlights that DOGE’s daily Relative Strength Index (RSI) has entered a critical rebound zone, signaling a possible price surge. This prediction is based on a previous scenario where similar RSI movements triggered significant price spikes for the meme coin.
(more…)

December 21, 2024
Rupee Dips 7 Paisas to Dollar Despite Forex Reserves Increase

Karachi, December 20, 2024 – The Pakistani rupee registered a slight decline of 7 paisas against the US dollar on Friday, closing at PKR 278.42 in the interbank foreign exchange market, down from the previous day’s rate of PKR 278.35. This decline occurred despite an increase in the country’s foreign exchange (forex) reserves.
(more…)

December 20, 2024
Ripple (XRP) Displays High Volatility During the Week

Ripple (XRP) has demonstrated significant price swings over the past week, ending in a notable overall decline. Starting at $2.40 on December 14, 2024, XRP maintained relative stability through December 15, with a slight increase of +0.17%.
(more…)

December 20, 2024
Dogecoin Extends Bearish Streak with a Weekly Loss of 20.51%

Over the past week, Dogecoin has experienced significant price volatility, culminating in a substantial decline. Beginning at $0.39 on December 14, 2024, the cryptocurrency saw minor fluctuations early in the week, peaking at $0.40 on December 15 and 16.
(more…)

December 20, 2024