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, July 16, 2024 – The State Bank of Pakistan (SBP) has reported a significant surge of 13.50% in bank deposits from the private sector during the fiscal year 2023-24, marking a notable increase from the previous year.
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Karachi, July 15, 2024 – The Pakistani Rupee appreciated by 29 paisas against the US dollar on Monday, closing at PKR 278.11 from last Friday’s PKR 278.40 in the interbank foreign exchange market. This uptick in the rupee’s value is attributed to the prevailing optimism surrounding foreign inflows.
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Karachi, July 14, 2024 – The outlook for the Pakistani rupee against the US dollar has improved following a recent staff-level agreement (SLA) between the International Monetary Fund (IMF) and Pakistan.
(more…)Karachi, July 12, 2024 – The Pakistani Rupee regained 21 paisas against the US dollar on Friday, buoyed by optimism surrounding a new loan program from the International Monetary Fund (IMF).
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Karachi, July 11, 2024 – The State Bank of Pakistan (SBP) has announced a relaxation in conditions for IT sector companies regarding equity investments abroad. This move, unveiled on Thursday, aims to facilitate export-oriented companies in expanding their international presence and boosting the country’s exports.
(more…)Karachi, July 11, 2024 – The Pakistani Rupee continued its downward trend against the US dollar, closing at PKR 278.61 in the interbank market on Thursday.
(more…)Karachi, July 10, 2024 – The State Bank of Pakistan (SBP) has officially declared bank holidays in observance of Ashura e Moharram. In a circular addressed to all banks, the SBP confirmed that it will remain closed on July 16th and 17th, 2024, corresponding to Tuesday and Wednesday, to mark the occasion of Ashura (9th and 10th Moharram 1446 A.H).
(more…)Karachi, July 10, 2024 – The Pakistani Rupee depreciated by 11 paisas to settle at PKR 278.51 against the US dollar at the close of trading in the Interbank foreign exchange market on Wednesday.
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Karachi, July 10, 2024 – The State Bank of Pakistan (SBP) on Wednesday announced the appointment of primary dealers (PDs) and special purpose primary dealers (SPPDs) for the financial year 2024-25.
(more…)Karachi, July 9, 2024 – Pakistan received $30.25 billion in workers’ remittances during the fiscal year 2023-24, according to a report by the State Bank of Pakistan (SBP) released on Tuesday. This represents an 11 percent increase compared to the $27.33 billion received in the preceding fiscal year.
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