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 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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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.
(more…)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.
(more…)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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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.
(more…)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.
(more…)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.
(more…)Karachi, July 24, 2024 – The Pakistani rupee continued its downward trend for the third consecutive trading day on Wednesday, weakening to PKR 278.50 against the US dollar in the interbank foreign exchange market.
(more…)Karachi, July 23, 2024 – The State Bank of Pakistan (SBP) has unveiled the schedule for its Monetary Policy Committee (MPC) meetings until December 2024, setting the stage for key decisions that will shape the country’s economic landscape. The central bank is scheduled to convene four times during this period.
(more…)Karachi, July 23, 2024 – The Pakistani Rupee saw a decline of 11 paisas against the US dollar on Tuesday, closing at PKR 278.41 in the interbank foreign exchange market.
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