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, November 13, 2024 – The State Bank of Pakistan (SBP) secured Rs 776 billion through its latest auction of Market Treasury Bills (MTBs) on Wednesday, marginally short of the Rs 800 billion target set for the auction.
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Karachi, November 13, 2024 – The Pakistani rupee showed slight improvement in the interbank market on Wednesday, gaining 8 paisas against the US dollar. The rupee ended at PKR 277.85 to the dollar, up from the previous day’s closing of PKR 277.93, as remittance inflows and strong export receipts bolstered the local currency.
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Dogecoin (DOGE) has experienced a staggering surge over the past few weeks, with price increases reflecting renewed investor enthusiasm for the original memecoin.
(more…)Dogecoin (DOGE) has surged nearly 30% today, with trading volume rocketing, reflecting increased confidence among investors in the cryptocurrency market. This significant rally has not only propelled Dogecoin but also spurred growth in the broader meme coin space, igniting renewed optimism for digital assets among traders.
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Karachi, November 12, 2024 – In a significant development for Pakistan’s financial sector, Abhi Private Limited and TPL Corp Limited have received approval from the State Bank of Pakistan (SBP) to jointly acquire FINCA Microfinance Bank Limited.
(more…)Karachi, November 12, 2024 – The Pakistani rupee experienced further depreciation against the US dollar on Tuesday, closing at PKR 277.93 in the interbank market. This marks a second consecutive day of losses, with the rupee slipping by 7 paisas from the prior day’s close of PKR 277.86. The currency’s weakening trajectory reflects sustained demand for dollars as businesses resume financial transactions following the weekend.
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Bitcoin surged close to $90,000 on Tuesday, buoyed by expectations of a crypto-friendly shift in US government policy following Donald Trump’s recent presidential victory. Cryptocurrency investors anticipate favorable regulations and broader support for digital assets under the new administration, which has sparked a wave of optimism across the crypto market.
(more…)Karachi, November 11, 2024 – The Pakistani rupee slipped by 12 paisas against the US dollar on Monday, closing at PKR 277.86 in the interbank foreign exchange market, down from Friday’s closing of PKR 277.74. This slight depreciation was primarily attributed to increased demand for the dollar to meet import and corporate payment obligations at the start of the week.
(more…)November 11, 2024 – Bitcoin surged to an all-time high above $81,000 on Monday, driven by a wave of optimism that cryptocurrencies are poised for significant growth under a favorable regulatory climate following Donald Trump’s election as U.S. president and the success of pro-crypto candidates in Congress.
(more…)The Pakistani rupee is expected to stay stable against the U.S. dollar next week, starting November 11, 2024, as it benefits from a steady increase in remittance inflows and foreign exchange reserves, currency dealers say.
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