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.

Standard Chartered Bank Sees Greater Potential in Pakistan

KARACHI, July 5, 2024 – Bill Winters, Group CEO of Standard Chartered Bank, expressed optimism about Pakistan’s potential and reaffirmed the bank’s commitment to continued investment during his visit to the Overseas Investors Chamber of Commerce and Industry (OICCI) on Friday.
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July 5, 2024
UBL Completes Sale of UNBL UK Stake

Karachi, July 5, 2024 – United Bank Limited (UBL) has successfully concluded the sale of its entire shareholding in United National Bank Limited (UNBL) UK, marking a strategic shift aimed at enhancing its financial position and shareholder returns.
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July 5, 2024
Rupee Gains 12 Paisas Against Dollar as Forex Reserves Soar

Karachi, July 5, 2024 – The Pakistani Rupee exhibited a resilient comeback on Friday, strengthening by 12 paisas against the US dollar in the interbank foreign exchange market, supported by a notable surge in the country’s foreign exchange reserves.
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July 5, 2024
CCP Approves UBL’s Acquisition of Wall Street Exchange Assets

Islamabad, July 5, 2024: In a move set to reshape Pakistan’s cross-border remittance and currency exchange landscape, the Competition Commission of Pakistan (CCP) has approved the acquisition of certain assets of Wall Street Exchange Company (WSE) by UBL Currency Exchange (UCE).
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July 5, 2024
Interbank Market Sees 10 Paisas Fall in Rupee against Dollar

Karachi, July 4, 2024 – The Pakistani rupee experienced a decline of 10 paisas against the US dollar on Thursday, settling at PKR 278.50 compared to the previous day’s closing of 278.40 in the interbank foreign exchange market.
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July 4, 2024
SBP Tightens Oversight on Foreign Currency Accounts

Karachi, July 3, 2024 – The State Bank of Pakistan (SBP) on Wednesday issued a directive to all banks, requiring detailed submissions of transactions conducted through foreign currency accounts (FCA).
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July 3, 2024
Rupee Dips Marginally to PKR 278.40 Against Dollar

Karachi, July 3, 2024 – The Pakistani Rupee experienced a slight decline on Wednesday, closing at PKR 278.40 against the US dollar in the interbank foreign exchange market. This marks a marginal decrease of two paisas from the previous day’s closing rate of PKR 278.38.
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July 3, 2024
SBP Issues Guidelines to Banks for Sugar Export

Karachi, July 2, 2024 (PkRevenue.com) – The State Bank of Pakistan (SBP) on Tuesday issued detailed guidelines to banks for processing requests related to the export of sugar.
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July 2, 2024
Rupee Eases by 4 Paisas Amid Dollar Demand for Imports

Karachi, July 2, 2024 – The Pakistani Rupee depreciated by 4 paisas against the US dollar on Tuesday, closing at PKR 278.38 compared to PKR 278.34 at the last session on June 28, 2024, in the interbank foreign exchange market.
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July 2, 2024
IMF Talks to Stabilize Rupee Against Dollar Next Week

Karachi, June 30, 2024 – The Pakistani rupee is expected to remain stable in the upcoming week starting July 1, buoyed by positive sentiment following the passage of a tax-heavy budget by Pakistan’s parliament ahead of crucial discussions with the International Monetary Fund (IMF) for a new loan, currency dealers reported.
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June 30, 2024