Tag: Depreciation
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Pakistani rupee finally ends 28-day winning streak, loses against US dollar
The Pakistani rupee’s remarkable 28-day winning streak against the US dollar came to an end today, as it recorded losses following an initial trade opening at Rs278.5 in the interbank market.
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Pakistani rupee slides to Rs297.13 against US dollar on first day of the week, losing Rs1.35
The Pakistani rupee (PKR) continued its decline against the US dollar on the first working day of the week. PKR went down by 0.45 per cent, which is about Rs1.35, and closed the day at Rs297.13 in the interbank market, as reported by the State Bank of Pakistan.
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Short-term inflation skyrockets to record 45.64% in Pakistan: What’s causing the surge?
The Pakistan Bureau of Statistics (PBS) has released data revealing that short-term inflation based on the Sensitive Price Index (SPI) rose to a record 45.64 per cent for the combined income group on a year-on-year basis for the week ending March 16. This increase was driven by the consistent rise in the prices of essential…
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Govt hikes petrol price by Rs5 to Rs272 per litre to match global market changes
As per a press release from the Finance Division, the government has decided to raise the price of petrol by Rs5 per litre to Rs272 per litre for the next two weeks, effective from March 16 (Thursday). The statement noted that the increase was due to the rise in Platts Singapore prices over the past…
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Pakistani rupee bounces back after steep decline against dollar
During the early hours of trading on Friday, the Pakistani rupee (PKR) saw a significant recovery against the US dollar, with an increase of 4.51 per cent. The inter-bank market quoted the PKR at Rs272.78 by 11:50 am, representing an increase of Rs12.31 against the US dollar. This follows a steep decline of 6.66 per…
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4th consecutive decline: PKR drops by 46 paisas to Rs218.89
The Pakistani Rupee (PKR) lost ground against the US Dollar (USD) today, reversing last week’s gains. The local unit fell 0.21 per cent against the US dollar today, closing at Rs218.89 after losing 46 paisas in the interbank market. During today’s open market session, the rupee hit an intraday low of Rs219.500 against the US…
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Pakistani rupee crashes against US dollar for 11th day in a row
For the eleventh session in a row, Pakistan’s rupee has lost value versus the US dollar, falling 0.41 per cent on Friday in the interbank market as the dollar gained momentum throughout the world and investors’ concerns about the increasing trade imbalance intensified. The rupee dropped by Rs0.96, according to the State Bank of Pakistan…
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Hyundai-Nishat announces a hefty price hike following KIA
Hyundai-Nishat Motors raised the pricing of its Tucson variants by Rs1.1 million, citing the decline in the currency as the primary cause, following Lucky Motor Corporation’s price increases for its KIA-brand vehicles. After an increase of Rs1.1 million price increase for the c, the Hyundai Tucson FWD model is now offered for Rs6.89 million. The…
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Pakistani rupee plunges to Rs227 against US dollar at midday trading
On Thursday, the rupee’s decline against the US dollar reached an all-time low of Rs227 in the interbank market. Experts blame the losses on political unrest and the fact that the dollar is bolstering against other currencies as well, according to DAWN. On Wednesday, the rupee had a closing value of Rs224.92. According to the…
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Interbank trade: Pakistani rupee falls to all-time low of Rs214.74 against US dollar
As a result of the ruling PML-N’s defeat in the Punjab by-elections, which has caused political turmoil in the nation, the Pakistani rupee (PKR) on Monday fell to an all-time low of Rs214 against the US dollar in interbank trade. Today’s intraday trade saw Rs3.79 depreciation of the local currency against the US dollar. It…