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 16, 2025 – The Pakistani rupee continued its downward trend against the US dollar on Thursday, closing at PKR 278.86 in the interbank foreign exchange market.
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Ripple (XRP) has surged above $3 for the first time since 2018, marking a significant milestone on January 15. This remarkable price movement highlights growing confidence among investors ahead of the SEC’s imminent appeal-related filing. The rally suggests a market belief that the SEC may face challenges in overturning previous rulings in the SEC vs. Ripple case.
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Dubai/Islamabad – January 15, 2025: JazzCash, Pakistan’s leading fintech platform, recently unveiled a comprehensive three-year roadmap to advance the country’s transition to a cashless society.
(more…)Karachi, January 15, 2025 – The Pakistani rupee witnessed a slight decline of 5 paisas against the US dollar on Wednesday, primarily due to persistent demand for dollars driven by import and corporate payment obligations. The rupee closed at PKR 278.77 to the dollar, compared to the previous day’s closing of PKR 278.72 in the interbank foreign exchange market.
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A recent survey conducted by Topline Securities Limited indicates that market participants widely anticipate a 100 basis points (bps) reduction in the benchmark policy rate during the upcoming Monetary Policy Committee (MPC) meeting. The State Bank of Pakistan (SBP) is set to convene this crucial meeting on January 27, 2025.
(more…)Karachi, January 14, 2025 – The Pakistani rupee slipped to PKR 278.72 against the US dollar in the interbank market on Tuesday, marking a slight depreciation of 4 paisas from the previous day’s closing of PKR 278.68.
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Karachi, January 14, 2025 – The government has retired a substantial Rs 2.42 trillion in bank borrowing during the first half of the fiscal year 2024-25 (July–December). The data, released by the State Bank of Pakistan (SBP) on Tuesday, highlights the government’s efforts to manage and reduce its reliance on borrowing.
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ISLAMABAD, January 13, 2025 – The Competition Commission of Pakistan (CCP) has approved the acquisition of a 94.8% stake in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited.
(more…)Karachi, January 13, 2025 – The Pakistani rupee began the week on a weaker note, losing 10 paisas against the US dollar due to increased demand for foreign payments typically observed at the start of the week. By the end of Monday’s trading session, the rupee closed at PKR 278.68 per dollar in the interbank market, slightly down from Friday’s closing rate of PKR 278.58.
(more…)Karachi, January 12, 2025 – The State Bank of Pakistan (SBP) has launched the third edition of the National Financial Inclusion Strategy (NFIS) 2024-28, designed to further accelerate financial inclusion and economic empowerment across the country.
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