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.

SBP Announces Bank Holiday on July 1, 2024

Karachi, June 28, 2024 – The State Bank of Pakistan (SBP) has officially declared July 1, 2024, as a bank holiday across Pakistan. This decision, communicated through a statement by the central bank today, mandates the closure of all financial institutions, including the SBP itself, as well as banks, Development Financial Institutions (DFIs), and Microfinance Banks (MFBs), shall observe bank holiday for public dealings on Monday, July 1, 2024.
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June 28, 2024
SBP Issues Bank Timings for Tax Collection in FY24 Closing

Karachi, June 28, 2024 – The State Bank of Pakistan (SBP) announced on Friday the bank timings for the collection of duty and tax during the last three days of the fiscal year 2024-25.
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June 28, 2024
Rupee Ends FY24 at PKR 278.34 Against Dollar

Karachi, June 28, 2024 – The Pakistani Rupee on the last trading day of fiscal year 2023-24 on Friday appreciated slightly, ending at PKR 278.34 against the dollar in the interbank foreign exchange market.
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June 28, 2024
SBP Urges Banks to Promote SME Financing

Karachi, June 27, 2024 – The State Bank of Pakistan (SBP) on Thursday urged commercial banks to enhance financing for Small and Medium Enterprises (SMEs).
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June 27, 2024
Rupee Inches Up to PKR 278.38 Against Dollar in Interbank

Karachi, June 27, 2024 – The Pakistani Rupee recorded a modest gain of two paisas on Thursday, reaching PKR 278.38 against the dollar in the interbank foreign exchange market.
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June 27, 2024
Rupee Edges Up 10 Paisas Against Dollar in Interbank Trading

Karachi, June 26, 2024 – The Pakistani Rupee displayed some resilience on Wednesday, gaining 10 paisas to close at PKR 278.40 against the US dollar in the interbank foreign exchange market. This marks a slight improvement compared to Monday’s closing rate of PKR 278.50.
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June 26, 2024
Rupee Recovers 12 Paisas Against Dollar in Interbank Market

Karachi, June 25, 2024 – The Pakistani Rupee showed a modest recovery on Tuesday, gaining 12 paisas against the US dollar in the interbank foreign exchange market. At the close of trading, the rupee stood at PKR 278.50 to the dollar, improving from the previous day’s closing of PKR 278.62.
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June 25, 2024
Rupee Sheds 11 Paisas to Dollar on Foreign Demands

Karachi, June 24, 2024 – The Pakistani Rupee experienced a depreciation of 11 paisas against the US dollar on Monday, driven by heightened demand for foreign currency to meet import and corporate payment obligations.
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June 24, 2024
Rupee Likely to Stay Resilient Amid Year-End Dollar Demand

The Pakistani rupee is expected to remain resilient against the US dollar in the upcoming week starting June 24, 2024, despite higher demand for dollars due to import and corporate payments.
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June 23, 2024
Rupee Regains 9 Paisas to Dollar Amid Foreign Inflows

June 21, 2024 – The Pakistani Rupee regained 9 paisas against the US dollar on Friday, bolstered by foreign inflows from export receipts and remittances. Closing at PKR 278.51 per dollar, the rupee showed a slight improvement from the previous day’s PKR 278.60 in the interbank foreign exchange market.
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June 21, 2024