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, September 23, 2024 – The Pakistani rupee experienced a minor dip on Monday, closing at PKR 277.87 against the US dollar in the interbank market, slipping by just 3 paisas from last Friday’s rate of PKR 277.84.
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Karachi, September 23, 2024 – The State Bank of Pakistan (SBP) has announced an extension in the validity period for the import of cash US dollars by exchange companies until June 30, 2025. This decision comes as a continuation of the SBP’s earlier facility, which allowed exchange companies to import up to 50% of the value of their export consignments in cash US dollars.
(more…)Karachi, September 22, 2024 – The stability of the Pakistani rupee against the US dollar in the coming week largely depends on the approval of a $7 billion loan by the International Monetary Fund’s (IMF) executive board.
(more…)Karachi, September 20, 2024 – The Pakistani rupee appreciated slightly on Friday, closing at PKR 277.84 against the US dollar in the interbank foreign exchange market, registering a gain of 7 paisas from the previous day’s closing rate of PKR 277.91.
(more…)Karachi, September 19, 2024 – Bank deposits in Pakistan surged by 18% year-on-year (YoY) in August 2024, according to data released by the State Bank of Pakistan (SBP) on Thursday. Total deposits reached Rs 30.78 trillion by the end of August 2024, up from Rs 26.11 trillion during the same period in 2023.
(more…)Karachi, September 19, 2024 – The Pakistani Rupee (PKR) showed a positive trend on Thursday, appreciating to PKR 277.91 against the US dollar. This rise comes as a result of the significant contraction in Pakistan’s Current Account Deficit (CAD) during the first two months of the fiscal year 2024-25.
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Karachi, September 18, 2024 – The State Bank of Pakistan (SBP) reported on Wednesday that the country’s banking sector experienced a robust growth of 11.5% during the first half of the calendar year 2024 (H1CY24). In its mid-year performance review, covering the period from January to June 2024, the SBP attributed this growth primarily to an expansion in the banking sector’s asset base, driven by a surge in investments.
(more…)Karachi, September 18, 2024 – The Pakistani rupee strengthened to PKR 278.04 against the US dollar on Wednesday, reflecting an improvement in economic conditions.
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On September 18, 2024, the buying rate of one US Dollar (USD) in Pakistani Rupees (PKR) in the open market was Rs 279.60, while the selling rate was Rs 280.75.
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On September 18, 2024, the buying rate of one Canadian Dollar (CAD) in Pakistani Rupees (PKR) in the open market was Rs 206.60, while the selling rate was Rs 209.00.
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