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.

UBL Reports Robust 2Q2024 Earnings Growth

KARACHI, July 31, 2024 – United Bank Limited (UBL) posted impressive consolidated earnings of Rs12.1 per share for the second quarter of 2024 (2Q2024), marking a 17% year-on-year (YoY) increase, although reflecting a 7% quarter-on-quarter (QoQ) decline. The results were in line with market expectations.
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July 31, 2024
1 USD = PKR 278.74: Rupee Falls for 3rd Day Against Dollar

KARACHI, July 31, 2024 – The Pakistani rupee continued its downward trend for the third consecutive day against the US dollar on Wednesday. The rupee depreciated by 8 paisas, closing at PKR 278.74 to the dollar compared to the previous day’s closing of PKR 278.66 in the interbank foreign exchange market.
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July 31, 2024
1 USD = PKR 278.66: Rupee Dips for 2nd Straight Day to Dollar

Karachi, July 30, 2024 – The Pakistani Rupee fell for the second consecutive day against the US dollar on Tuesday, pressured by foreign payment demands. The rupee declined by 16 paisas, closing at PKR 278.66 to the dollar, compared to the previous day’s rate of PKR 278.50 in the interbank foreign exchange market.
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July 30, 2024
SBP Cuts Benchmark Policy Rate by 100 Basis Points

Karachi, July 29, 2024 – In a bid to stimulate economic growth while keeping inflation in check, the State Bank of Pakistan (SBP) on Monday announced a 100 basis point reduction in its benchmark policy rate, bringing it down to 19.5%.
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July 29, 2024
1 USD = PKR 278.50: Rupee Weakens to Dollar at Week Start

Karachi, July 29, 2024 – The Pakistani Rupee weakened by 16 paisas on Monday, closing at PKR 278.50 against the dollar in the interbank foreign exchange market. This marks a slight decline from the last closing rate of PKR 278.34 on July 26, 2024.
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July 29, 2024
Rupee Expected to Remain Steady Amidst Monetary Policy Await

Karachi: The Pakistani rupee is anticipated to maintain its current range against the US dollar in the coming week, as market participants closely monitor the State Bank of Pakistan’s (SBP) upcoming interest rate decision.
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July 28, 2024
Policy Announcement: SBP May Surprise Market

Karachi, July 27, 2024 – The State Bank of Pakistan (SBP) is poised to potentially surprise market expectations with a rate cut in its upcoming policy announcement on July 29, 2024.
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July 27, 2024
1 USD = PKR 278.34: Rupee Gains Amid Dollar Inflows

Karachi, July 26, 2024 – The Pakistani Rupee gained 7 paisas against the US dollar on Friday, closing at PKR 278.34 from the previous day’s closing of PKR 278.41 in the interbank foreign exchange market. This appreciation is attributed to foreign inflows in the form of export receipts and remittances, which provided much-needed support to the local currency.
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July 26, 2024
1 USD = PKR 278.41: Pakistani Rupee Recovers Against Dollar

Karachi, July 25, 2024 – The Pakistani Rupee showed signs of recovery against the US Dollar on Thursday, gaining some ground after a three-day losing streak.
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July 25, 2024
Market Survey Foresees SBP Slashing Rate to 19.5%

Karachi, July 24, 2024 – A recent survey conducted by Topline Securities Limited indicates a strong likelihood that the State Bank of Pakistan (SBP) will reduce its benchmark interest rate to 19.5%, down from the current 20.5%. This anticipated decision will be formally deliberated during the SBP’s Monetary Policy Committee (MPC) meeting scheduled for July 29, 2024.
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July 24, 2024