Pkrevenue.com

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.

  • Trump Nominates Crypto Advocate Paul Atkins to Lead SEC

    Trump Nominates Crypto Advocate Paul Atkins to Lead SEC

    U.S. President-elect Donald Trump has selected Paul Atkins, a long-time advocate for cryptocurrency and financial innovation, as his nominee for Chairman of the Securities and Exchange Commission (SEC). Trump announced the nomination on Wednesday via Truth Social, expressing confidence in Atkins’ ability to lead the regulatory body.

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  • Aurangzeb for Market-Driven Financing to Bridge Housing Gap

    Aurangzeb for Market-Driven Financing to Bridge Housing Gap

    Islamabad, December 4, 2024 – Finance Minister Muhammad Aurangzeb reiterated the government’s commitment to modernizing the housing sector without returning to directed lending, a practice he described as harmful due to its long-term economic distortions. Speaking at the International Affordable, Green & Resilient Housing Conference, the minister emphasized the need for creating mechanisms that incentivize the private sector, particularly banks and microfinance institutions, to take the lead in providing accessible housing finance.

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  • Rupee Weakens by 5 Paisas Against US Dollar Amid Outflows

    Rupee Weakens by 5 Paisas Against US Dollar Amid Outflows

    Karachi, December 4, 2024 – The Pakistani rupee depreciated by 5 paisas against the US dollar on Wednesday, closing at PKR 277.92 to the dollar, compared to the previous day’s closing rate of PKR 277.87. This slight decline in the rupee’s value is primarily attributed to increased demand for the dollar, driven by outflows related to import payments and corporate obligations.

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  • Symmetry Group Secures SBP Website Maintenance Contract

    Symmetry Group Secures SBP Website Maintenance Contract

    Karachi, December 4, 2024 – Symmetry Group Limited has announced its successful bid for the development and maintenance of the State Bank of Pakistan’s (SBP) external website. The contract, spanning five years, was awarded following a competitive process and underscores Symmetry Group’s growing prominence in the digital technology sector.

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  • Ripple (XRP) Bulls Target New Highs Amid Market Momentum

    Ripple (XRP) Bulls Target New Highs Amid Market Momentum

    Ripple (XRP) is riding a bullish wave, pushing its price to new heights. The token recently crossed the $2 mark, sparking renewed investor interest. Prominent crypto analyst Egrag Crypto believes XRP is just beginning to reveal its full price potential, with even more substantial gains likely on the horizon.

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  • Dogecoin Projected Above $1 as Market Sentiment Stays Bullish

    Dogecoin Projected Above $1 as Market Sentiment Stays Bullish

    Market analysts continue to project a bullish outlook for Dogecoin (DOGE), with its price trajectory drawing comparisons to XRP’s recent explosive performance. While DOGE has experienced a modest decline of 3.34% so far in December, it remains strong above the $0.40 level. Following a 160% rally in November, analysts anticipate another upward surge, with targets set as high as $1.15.

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  • Market Anticipates 200bps Policy Rate Cut: Topline Poll

    Market Anticipates 200bps Policy Rate Cut: Topline Poll

    Karachi, December 3, 2024 – Market participants are gearing up for a substantial monetary policy adjustment, as a poll by Topline Securities Limited suggests a majority expects a 200 basis points (bps) cut in the policy rate during the upcoming Monetary Policy Committee (MPC) meeting, scheduled for December 16, 2024.

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  • Pakistani Rupee Strengthens to PKR 277.87 Against US Dollar

    Pakistani Rupee Strengthens to PKR 277.87 Against US Dollar

    Karachi, December 3, 2024 – The Pakistani rupee gained ground in the interbank market on Tuesday, closing at PKR 277.87 against the US dollar. This marks an appreciation of 10 paisas from the previous day’s closing rate of PKR 277.97.

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  • UBL Board Approves Amalgamation of Silk Bank

    UBL Board Approves Amalgamation of Silk Bank

    KARACHI, December 3, 2024 – In a significant move towards strengthening its market presence, United Bank Limited (UBL) has announced that its board of directors has approved the amalgamation of Silk Bank Limited (SBL) into UBL.

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  • Banks experience over Rs 226 billion withdrawal in October 2024

    Banks experience over Rs 226 billion withdrawal in October 2024

    Karachi, December 3, 2024 – Banks in Pakistan witnessed significant withdrawals in October 2024, as deposits fell by Rs 226.42 billion, according to data released by the State Bank of Pakistan (SBP).

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