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, August 28, 2024 – In a significant move to enhance the financial security of depositors, the State Bank of Pakistan (SBP) has doubled the deposit protection limit to Rs 500,000 per account.
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On August 28, 2024, the buying rate of one US Dollar (USD) in Pakistani Rupees (PKR) in the open market was Rs 279.15, while the selling rate was Rs 280.00.
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On August 28, 2024, the buying rate of one Canadian Dollar (CAD) in Pakistani Rupees (PKR) in the open market was Rs 202.65, while the selling rate was Rs 207.00.
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On August 28, 2024, the buying rate of one UAE Dirham (AED) in Pakistani Rupees (PKR) in the open market was Rs 75.80, while the selling rate was Rs 76.22.
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On August 28, 2024, the buying rate of one UK Pound Sterling (GBP) in Pakistani Rupees (PKR) in the open market was Rs 366.89, while the selling rate was Rs 368.78.
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On August 28, 2024, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 309.97, while the selling rate was Rs 311.94.
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On August 28, 2024, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 74.01, while the selling rate was Rs 74.42.
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Karachi, August 28, 2024 – The banking sector in Pakistan has experienced a seismic shift as account holders withdrew a colossal Rs 518 billion in response to recent tax amendments effective from July 1, 2024.
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Karachi, August 27, 2024 – Habib Bank Limited (HBL) has projected a significant reduction in the key policy rate by the State Bank of Pakistan (SBP), expecting it to decrease to 14-15% by June 2025. This forecast was shared by the bank’s management during an analyst briefing hosted by Arif Habib Limited.
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Karachi, August 27, 2024 – The Pakistani rupee recorded its second consecutive gain against the US dollar on Tuesday, closing at PKR 278.32 in the interbank foreign exchange market.
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