Tag: disparity
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Exchange companies suggest higher US dollar rate to increase remittances
The government has been advised by the Exchange Companies Association of Pakistan (ECAP) to “set” the dollar rate to lessen currency market volatility as the country fights a severe economic crisis and declining foreign exchange reserves. The general secretary of ECAP Zafar Paracha said in a statement on Monday, “It is advised to fix the…
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Pakistan to overcome $4 billion external financing gap soon: SBP
In the midst of intense pressure on foreign currency reserves, Pakistan will soon close its $4 billion shortfall in external finance with the assistance of friendly nations under IMF conditions, according to Acting Governor of the State Bank of Pakistan (SBP) Dr Murtaza Syed. He also acknowledged that inflation will continue to be higher for…
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Pakistani rupee tumbles to Rs200 versus US dollar in the interbank
The lack of clarity on both economic and political fronts worsened the Pakistani rupee’s (PKR) difficulties, as the local currency sank to Rs200 against the US dollar during intraday trading in the interbank market on Thursday, May 19. Pakistani currency officially breached the 200-barrier in the open market on May 18, closing at Rs198.39 after…
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Toyota Camry after a hike of Rs2 million, priced at Rs23.3 million
Toyota Indus Motor Company (IMC) has announced a massive price hike for all completely built-up (CBU) units offered by the Japanese automaker in Pakistan. The price of Toyota Camry is upped by Rs2 million and will now cost Rs23.3 million The only variant of the popular hybrid model, Toyota Prius received a hike of Rs1.26…
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Pakistani rupee crashes to historic low of Rs194 against US dollar
During the trading session on Monday, the Pakistani rupee (PKR) maintained its declining trend, touching Rs194, its worst rate versus the US dollar. At the interbank, the greenback strengthened by Rs1.47 during the trading hours. The General Secretary of the Exchange Companies Association of Pakistan, Zafar Paracha said that the greenback climbed by Rs11.07 since the…