Wholesalers who paid before the depreciation took place have the opportunity to earn an additional 5pc on their imports.
The dollar was traded as high as Rs111 in the interbank market. But it remained mostly around Rs110.25-50.
Net advances of the banking sector grew 20.6 per cent in July-September.
Dollar hits as high as Rs109.80 in the interbank market before closing at Rs108.40-50.
The exchange rate movement will now be based on demand and supply of foreign exchange in the interbank market
SBP says depreciation will contain imbalance in external account.
Banks earned a total profit of Rs112 billion in January-September as opposed to Rs139bn a year ago.
No need to panic as the amount would be reimbursed to the affected clients, says marketing executive of HBL.
The private sector’s borrowing from conventional banks rose to Rs74.2bn in the current year.
Prospects of achieving the 6pc target of real GDP growth continue to be strong, State Bank says.
Despite subdued inflation, drug prices rose 15.68 per cent in October on a year-on-year basis.
The deficit jumped to $5.013 billion against $2.259bn a year ago.
Data shows businesses prefer to borrow from Islamic branches of commercial banks
The inflow from China rose to $631.7m constitutes over 67pc of the total FDI during the July-October period.
“We hope that the World Bank will approve a $140 million loan for the PMRC in January or February next year.”
Rural population of Sindh fails to compete with rural Khyber Pakhtunkhwa and AJK in economics.
The prevailing low interest rate environment hurt banks’ investments in government papers.
Annual Performance Review says line of credit being established with help of World Bank for women, micro-enterprises.
"It has now been decided to allow resident insurance companies to issue dollar-denominated insurance policies."
Lending to federal govt, banks remained major sources of income.