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, October 15, 2024 – The Banking Mohtasib of Pakistan (BMP) provided monetary relief totaling Rs 1.06 billion to banking customers during the first nine months of the current calendar year, according to a statement released on Tuesday.
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Karachi, October 15, 2024 – The Pakistani rupee experienced a slight decline against the US dollar on Tuesday, slipping by 8 paisas due to rising demand for foreign currency to cover import and corporate payments.
(more…)Karachi, October 14, 2024 – The Pakistani rupee saw a slight depreciation on Monday, closing at PKR 277.66 against the U.S. dollar in the interbank market. The currency edged down by 2 paisas from last Friday’s closing value of PKR 277.64, reflecting a marginal decline in its value.
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Karachi, October 14, 2024 – The State Bank of Pakistan (SBP) has introduced a new challenge fund aimed at improving access to finance for small and medium-sized enterprises (SMEs).
(more…)Karachi, October 13, 2024 – The Pakistani rupee is forecasted to maintain stability against the US dollar in the coming week starting October 14, 2024, buoyed by adequate dollar supplies and a steady increase in foreign exchange reserves, currency dealers predict. Despite minor fluctuations this week, the rupee is expected to stay within its current range as demand for dollars is met by sufficient liquidity in the market.
(more…)Karachi, October 11, 2024 – The Pakistani rupee experienced a notable rebound on Friday, gaining 15 paisas against the US dollar, attributed to an increase in foreign inflows.
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Karachi, October 11, 2024 – The State Bank of Pakistan (SBP) has reported a remarkable 35% surge in digital retail payments during the fiscal year 2023-24, both in volume and value.
(more…)Karachi, October 10, 2024 – The State Bank of Pakistan (SBP) has issued revised directives regarding the installation of Closed-Circuit Television (CCTV) cameras by banks and microfinance banks (MFBs). These revisions, based on input from various stakeholders, are aimed at facilitating the phased implementation of enhanced surveillance measures while ensuring the security of banking operations nationwide.
(more…)Karachi, October 10, 2024 – The Pakistani rupee witnessed a decline of 7 paisas against the US dollar on Thursday, driven by increased purchases of the foreign currency for import payments and corporate settlements. The rupee closed at PKR 277.79 per dollar in the interbank market, down from the previous day’s close of PKR 277.72.
(more…)Karachi, October 9, 2024 – The Pakistani rupee extended its losing streak for a third consecutive session against the US dollar on Wednesday, driven by a surge in demand for the foreign currency to meet import and corporate payment obligations.
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