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.

Confidence Building Can Bring $200Bn to Pakistan: ECAP Chief

Karachi, August 15, 2024 – Confidence-building measures could unlock $200 billion in foreign reserves for Pakistan, stated Malik Bostan, Chairman of the Exchange Companies Association of Pakistan (ECAP), at the 77th Independence Day ceremony of the Association.
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August 15, 2024
SBP Celebrates 77th Independence Day of Pakistan

Karachi, August 14, 2024 – The State Bank of Pakistan (SBP) celebrated the 77th Independence Day of the country with renewed fervor and enthusiasm.
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August 14, 2024
Rupee Slides to PKR 278.64 Against Dollar at Interbank Closing

Karachi, August 12, 2024 – The Pakistani Rupee experienced a slight decline on Monday, slipping 9 paisas to settle at PKR 278.64 against the US dollar by the close of trading on the interbank foreign exchange market.
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August 12, 2024
Pakistan Rupee Expected to Maintain Stability Upcoming Week

KARACHI – Currency dealers are forecasting a stable outlook for the Pakistani rupee in the upcoming week, primarily due to a balanced supply and demand of the US dollar. The market has seen no significant triggers that could lead to volatility. This week, the rupee exhibited minimal fluctuations, with the interbank rate closing at PKR 278.63 per USD on Friday.
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August 11, 2024
Remittances Soar by 48% YoY in July 2024, Reaching $3 Billion

Karachi, August 9, 2024 – Pakistan witnessed a significant surge in workers’ remittances, with inflows rising by 48% Year on Year (YoY) in July 2024, according to data released by the State Bank of Pakistan (SBP) on Friday.
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August 9, 2024
Rupee Gains Momentum, Closes at PKR 278.55 to Dollar

Karachi, August 9, 2024 – The Pakistani Rupee strengthened against the US Dollar on Friday, closing at PKR 278.55 in the interbank market, marking an appreciation of 14 paisas from the previous day’s rate of PKR 278.69.
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August 9, 2024
Rs 4.22 Billion in Prize Bonds Unclaimed as Deadline Passes

Karachi, August 9, 2024 – A staggering amount of Rs 4.22 billion in bearer prize bonds remains unclaimed following the expiration of the deadline for conversion or exchange on June 30, 2024. According to data released by the State Bank of Pakistan (SBP), many holders of these unregistered prize bonds failed to take action despite multiple extensions provided by the government.
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August 9, 2024
Rupee Inches Up by 4 Paisas Against Dollar

Karachi, August 8, 2024 – The Pakistani Rupee made a slight recovery on Thursday, gaining 4 paisas against the US dollar in the interbank market. The rupee closed at PKR 278.69 per dollar, a modest improvement from the previous day’s rate of PKR 278.73.
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August 8, 2024
SBP Declares Bank Holiday on August 14, 2024

Karachi, August 8, 2024 – The State Bank of Pakistan (SBP) has officially announced a bank holiday on Wednesday, August 14, 2024, in observance of Pakistan’s Independence Day.
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August 8, 2024
Rupee Dips 4 Paisas to Dollar Amid Import Pressure

Karachi, August 7, 2024 – The Pakistani Rupee on Wednesday ended down by 4 paisas against the US dollar at the close of the interbank foreign exchange market. The rupee closed at PKR 278.73 to the dollar, slipping from the previous day’s closing of PKR 278.69.
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August 7, 2024