Tag Archives: Currency Exchange

SBP Enhances Incentives for Banks and Currency Exchange Companies to Boost Remittances Pakistan’s central bank, the State Bank of Pakistan (SBP), has introduced significant incentives for banks and currency exchange companies to attract more remittances from overseas Pakistanis. These remittances are vital for financing imports and managing foreign debt payments. Incentives for Exchange Companies According to the SBP, starting from …

US Dollar Gains Against Pakistani Rupee in Interbank Market On Tuesday, the US dollar appreciated by six paisas against the Pakistani rupee, reaching Rs278.70 in interbank trading. This marginal gain reflects ongoing volatility in the currency market as Pakistan navigates a complex economic landscape. Improved Economic Indicators Highlight Positive Shift The Ministry of Finance has released its latest monthly economic …

The grey currency market in Pakistan has reemerged, fueled by a surge in the smuggling of US dollars to neighboring countries. This shadowy market operates outside the official remittance channels, offering exchange rates that are significantly higher than those set by the government. According to Zafar Paracha, General Secretary of the Exchange Companies Association of Pakistan, the grey market is …

The Pakistani rupee maintained its positive momentum against the US dollar in the open market, narrowing the gap with the inter-bank rate. This convergence is considered a significant benchmark of the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA). According to reports from currency dealers, the rupee was being quoted at 305 for selling and 302 for buying in the open …