KARACHI – Pakistan’s central bank is moving to roll out its own digital currency in the future amid making impressive gains in digital banking.
The launch of digital currency represents a major advancement in another step for Digital Pakistan, however, its adoption needs strict regulations.
Digital currency in Pakistan will interrupt physical currency, cut the cost of financial dealings, and will change the flow of capital in society.
Lately, Shoukat Bizinjo, Additional Director of the State Bank’s Digital Financial Services Group, said several central banks, including SBP are exploring the concept of CBBCs (callable bull/bear contracts) as a potential avenue for launching digital currencies.
Addressing International Conference on Mobile Commerce 2023, Bizinjo said SBP is reviewing and consulting with other banks regarding CBBCs and digital currency.
He linked Electronic Money Institutions with notable progress in e-banking through the launch of e-money wallets for consumers and merchants, and other digital payment instruments such as prepaid cards and contactless payment instruments.
SBP officials said Pakistan has four live commercial Electronic Money Institutions, including NayaPak, Finja, CMPECC, and Sada Tech Pakistan, which have considerable e-money balance of Rs2 billion, managing 1.6 million e-money wallets.
Daily Pakistan Global Web Desk
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on September 29, 2023 (Friday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 286.05 | 289.15 |
Euro | EUR | 307 | 310 |
UK Pound Sterling | GBP | 353.3 | 357 |
U.A.E Dirham | AED | 80 | 80.8 |
Saudi Riyal | SAR | 76 | 76.75 |
Australian Dollar | AUD | 189 | 191 |
Bahrain Dinar | BHD | 778.84 | 786.84 |
Canadian Dollar | CAD | 220 | 222.2 |
China Yuan | CNY | 40.24 | 40.64 |
Danish Krone | DKK | 41.83 | 42.23 |
Hong Kong Dollar | HKD | 37.93 | 38.28 |
Indian Rupee | INR | 3.57 | 3.68 |
Japanese Yen | JPY | 1.63 | 1.71 |
Kuwaiti Dinar | KWD | 945.27 | 954.27 |
Malaysian Ringgit | MYR | 62.62 | 63.22 |
New Zealand Dollar | NZD | 174.58 | 176.58 |
Norwegians Krone | NOK | 27.87 | 28.17 |
Omani Riyal | OMR | 762.31 | 770.31 |
Qatari Riyal | QAR | 80.69 | 81.39 |
Singapore Dollar | SGD | 208 | 210 |
Swedish Korona | SEK | 26.62 | 26.92 |
Swiss Franc | CHF | 323.01 | 325.51 |
Thai Bhat | THB | 8.12 | 8.27 |
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 205,600 on Friday.
The price of 10 grams of 24k gold was recorded at Rs 176,270. Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
City | Gold | Silver |
Lahore | PKR 205,600 | PKR 2,465 |
Karachi | PKR 205,600 | PKR 2,465 |
Islamabad | PKR 205,600 | PKR 2,465 |
Peshawar | PKR 205,600 | PKR 2,465 |
Quetta | PKR 205,600 | PKR 2,465 |
Sialkot | PKR 205,600 | PKR 2,465 |
Attock | PKR 205,600 | PKR 2,465 |
Gujranwala | PKR 205,600 | PKR 2,465 |
Jehlum | PKR 205,600 | PKR 2,465 |
Multan | PKR 205,600 | PKR 2,465 |
Bahawalpur | PKR 205,600 | PKR 2,465 |
Gujrat | PKR 205,600 | PKR 2,465 |
Nawabshah | PKR 205,600 | PKR 2,465 |
Chakwal | PKR 205,600 | PKR 2,465 |
Hyderabad | PKR 205,600 | PKR 2,465 |
Nowshehra | PKR 205,600 | PKR 2,465 |
Sargodha | PKR 205,600 | PKR 2,465 |
Faisalabad | PKR 205,600 | PKR 2,465 |
Mirpur | PKR 205,600 | PKR 2,465 |
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