2026

KARACHI — The National Bank of Pakistan (NBP) has released its latest currency exchange rates, offering insights into the buying and selling values of various currencies in the financial market. Major Currency Rates As of Thursday, the US dollar is sold at 280.04 and bought at 277.04. The British pound selling rate stands at 372.86 with a buying rate of 368.46. The euro is available for selling at 322.65 and buying at 318.85. Regional Currency Rates Japanese Yen and UAE Dirham The Japanese yen can be sold at 1.7440 and bought at 1.7234. The United Arab Emirates dirham rates are 74.62 for selling and 73.74 for buying. Saudi Riyal The exchange rate for the Saudi riyal is 76.25 for selling and 75.35 for buying.

ISLAMABAD — The Asian Development Bank (ADB) has approved a $700 million policy-based loan to drive crucial reforms in Pakistan’s insurance sector. Goals of the Loan The main objective of this initiative is to expand insurance coverage across Pakistan, effectively addressing existing protection gaps within the sector. Boosting Private Sector Investments According to an ADB press release, the loan is designed to foster private sector investments in the insurance industry. This step aims to promote sustainable economic growth within Pakistan. Strengthening Economic Growth and Stability This financial support is vital for enhancing the financial sector in Pakistan. It promotes both economic stability and financial inclusion for citizens.

ISLAMABAD — Pakistan’s government has reaffirmed its commitment to supporting electric vehicle manufacturing and localization. This initiative aligns with the strategic goal of establishing Pakistan as a regional hub for new energy vehicles. Government’s Strategic Initiative Finance Minister Senator Muhammad Aurangzeb announced the initiative on Thursday. He met with a delegation from BYD Group and Mega Motor Company (MMC) to discuss promoting a sustainable transportation network nationwide. Partnerships for Sustainable Growth Minister Aurangzeb stressed the importance of partnering with international companies. Such collaborations are expected to significantly benefit the local economy and environment. The government prioritizes electric vehicle adoption and infrastructure development. Boosting Foreign Investment Discussions with BYD Group and MMC highlight efforts to attract foreign investment into the electric vehicle sector. This sector plays a crucial role in Pakistan’s economic and environmental strategies. Through these partnerships, Pakistan aims to boost cooperation and investment in its automotive industry, paving the way for substantial growth and development.

ISLAMABAD — The Senate’s budget session began on Thursday at 12:48 p.m. Chaired by Syed Yousaf Raza Gilani, this session signifies the start of the legislative body’s examination of fiscal issues for the upcoming year. Key Agenda Items The agenda included presentations from various standing committees. These reports are vital in the discussion and assessment of proposed fiscal policies and plans. Emphasis on Finance Bill 2026 The Finance Bill for 2026 was a primary topic of discussion. These deliberations are crucial for shaping Pakistan’s financial landscape in the next fiscal year. They play a significant role in influencing economic growth and stability.

ISLAMABAD — Farah Naz Akbar, Parliamentary Secretary for the National Heritage and Culture Division, announced on Thursday that the Federal Budget for 2026-27 targets significant economic growth and public relief. Major Economic Initiatives During the National Assembly budget debate, Akbar outlined key measures aimed at providing relief to salaried individuals. She emphasized that these initiatives are crucial for maintaining financial stability. Comprehensive Strategy for Public Welfare Akbar highlighted the budget’s role within a comprehensive strategy designed to tackle economic challenges. The plan aims to promote public welfare while simultaneously fostering economic growth. Her statements demonstrate the administration’s commitment to aligning growth objectives with public relief initiatives, ensuring a balanced approach to national progress.

ISLAMABAD — The Asian Development Bank (ADB) has approved a $700 million policy-based loan to support reforms in Pakistan’s insurance sector. This initiative focuses on enhancing financial resilience and expanding market coverage. Insurance Transformation Program The Insurance Transformation Program aims to close protection gaps and increase private sector participation. This strategy is expected to promote sustainable economic growth by providing financial security to households, businesses, and farmers. The loan particularly emphasizes protection against extreme weather events, disasters, and life-cycle risks, ensuring comprehensive coverage. Modernizing Pakistan’s Insurance Framework Emma Fan, ADB Country Director for Pakistan, highlighted that the program will modernize the insurance framework. Transitioning towards a risk-based, market-oriented system aims to mobilize capital for development and improve financial protection. These efforts are crucial in building a more competitive and resilient insurance market, preparing it for future challenges. Current Financial System With banking dominating Pakistan’s financial system, the insurance sector accounts for only 0.7% of GDP. The loan seeks to develop inclusive and shock-responsive insurance models, particularly benefiting farmers, women, and vulnerable households. Innovative Insurance Solutions This initiative emphasizes digital distribution and satellite-based risk assessment, alongside tailored insurance products. It also focuses on improving claims processing and enhancing access to services. These innovations are set to significantly strengthen the insurance sector, making it more robust and accessible.