Media Communication Group , World News, Pakistan News,
Media Communication Group , World News, Pakistan News,
KARACHI, Pakistan (Web Desk) — By midday on Wednesday, the US dollar had lost another five rupees versus the local currency and was available for Rs295, resulting in a net gain of Rs10 over the previous two days. On Tuesday, the rupee gained Rs5, closing the day at Rs300 on the open market. However, in […]
As political unrest plagues markets, the Pakistani rupee plunged to its all-time low of 300 versus the US dollar during intraday trade today after dipping below 296 at 12:10 PM. The interbank rate lost Rs. 10 during the first few hours of intraday trade today, falling to Rs. 300.25 at 1:30 PM, down by 3.3 […]
With the economy under great strain, as seen by depleted foreign reserves, a rising current account deficit, and the currency plunging to a historic low, Pakistan must act quickly to reactivate the International Monetary Fund programme in order to avert a Sri Lanka-style collapse. “In order to re-enter the program, the government must reduce petroleum […]
ISLAMABAD, Pakistan – In interbank trade on Friday, the Pakistan Rupee fell by 94 paisas versus the US Dollar, finishing at Rs 186.62, down from Rs 185.68 the previous day. According to the Forex Association of Pakistan (FAP), the open market buying and selling rates for the dollar were Rs 185.5 and Rs 186.5, respectively. […]
Pakistan’s liquid foreign reserves fell by $115 million in the week ending April 30, 2022, representing a 0.7 percent drop week on week.According to the SBP weekly report issued on Friday, the country’s total liquid foreign exchange reserves fell by $115 million (-0.7 percent) on April 30, 2022, to $16.553 billion, down from $16.668 billion […]
KARACHI, Pakistan – The Pakistani rupee (PKR) lost 41 paisas versus the US dollar in Thursday’s interbank session, breaking its winning run. According to the statistics, the currency finished the deal at PKR 185.87 per USD, up from PKR 185.45 per USD yesterday. Meanwhile, the local stock market was in the red on Thursday, with […]
Pakistan’s liquid foreign reserves were depleted by $377 million in the week ending April 23, 2022, a 2.2 percent drop from the previous week.According to the SBP weekly report issued on Thursday, the country’s total liquid foreign currency reserves fell by $376.7 million (-2.2 percent) to $16.668 billion on April 23, 2022, from $17.045 billion […]
KARACHI: The high demand for US dollars weighed on the rupee, which fell to an all-time low of Rs184.09 after losing another 61 paise in the interbank market on Friday. Since August 2021, the local currency has lost more than 16% versus the US dollar. The State Bank’s foreign exchange reserves fell by more over […]
KARACHI: On Thursday, the Pakistani rupee continued to depreciate against the US dollar in the interbank market for the ninth consecutive session. According to forex dealers, the domestic currency depreciated one paisa against the greenback at the start of the session, dropping to a new low of Rs181.74. The US dollar is currently trading at […]
As investors and traders considered the latest developments in the Ukraine crisis and more hawkish statements from US Federal Reserve officials, Asian stocks dipped on Thursday (March 24), while the sell-off in US Treasuries stalled and oil prices increased. The Nikkei 225 index of Japan started the morning session down 1.11 percent at 27,727.76, while […]