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 Marks 7 Paisas Decline Amid Dollar Purchases

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.
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October 10, 2024
Rupee Declines for Third Consecutive Session Against US Dollar

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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October 9, 2024
Pakistan Sees 39% Surge in Workers’ Remittances in 1QFY25

Karachi, October 9, 2024 – Pakistan has experienced a remarkable 39% surge in workers’ remittances during the first quarter (July – September) of the fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP) on Wednesday. The remittance inflows soared to $8.79 billion, a significant increase from $6.33 billion in the corresponding quarter of the previous fiscal year.
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October 9, 2024
SBP Unveils Series of Incentives to Boost Home Remittances

Karachi, October 8, 2024 – In a strategic move aimed at fortifying Pakistan’s foreign exchange reserves and stimulating the inflow of remittances, the State Bank of Pakistan (SBP) announced a series of robust incentives on Tuesday. These initiatives are specifically designed to encourage exchange companies (ECs), authorized dealers (ADs), and microfinance banks (MFBs) to amplify their efforts in mobilizing home remittances.
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October 8, 2024
Rupee Dips to PKR 277.67 Against Dollar Amid Import Pressure

Karachi, October 8, 2024 – The Pakistani rupee continued its downward trend, slipping slightly to PKR 277.67 against the US dollar by the close of the interbank foreign exchange market on Tuesday. This depreciation marked a minor decline of 3 paisas from the previous day’s closing rate of PKR 277.64.
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October 8, 2024
SBP Revises Per Party Exposure Limits to Boost SME Financing

Karachi, October 8, 2024 – The State Bank of Pakistan (SBP) has taken a significant step towards promoting Small and Medium Enterprises (SMEs) by revising the per party exposure limits for these businesses.
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October 8, 2024
Rupee Eases to PKR 277.64 Amid Rising Dollar Import Demand

Karachi, October 7, 2024 – The Pakistani rupee weakened against the US dollar on Monday, closing at PKR 277.64 in the interbank market. This marks a slight decline of 12 paisas compared to the previous session’s closing rate of PKR 277.52.
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October 7, 2024
Rupee Set to Remain Stable Amid Strong Dollar Inflows

KARACHI: The Pakistani rupee is projected to maintain stability in the coming week due to healthy dollar inflows from remittances and greenback sales by exporters, according to dealers and analysts. The increased liquidity of dollars in the market is expected to balance out importer demand, keeping the rupee within its current range.
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October 6, 2024
Rupee Rises to PKR 277.52 to Dollar Amid Improved Reserves

KARACHI, October 4, 2024 – In a notable development, the Pakistani rupee appreciated to PKR 277.52 against the US dollar on Friday, bolstered by an improvement in the nation’s foreign exchange reserves.
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October 4, 2024
Rupee Slips by 10 Paisas Against Dollar Due to Geopolitical Risks

Karachi, October 3, 2024 – The Pakistani rupee weakened against the US dollar on Thursday, slipping by 10 paisas in the interbank foreign exchange market. The local currency closed at PKR 277.74 to the dollar, compared to the previous day’s rate of PKR 277.64. The depreciation is primarily attributed to rising import payment demands, particularly for oil, driven by escalating geopolitical tensions.
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October 3, 2024