Tag: Dollar
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Gold prices rise on weaker Pakistani rupee and economic outlook
On Tuesday, gold prices rose further to reach a one-week peak achieved last week, supported by a weaker Pakistani rupee. Investors were keeping an eye on upcoming economic developments that could impact the market’s direction. The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that the price of gold (24 carats) rose by Rs500 per…
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Pakistani rupee breaks winning streak, closes at Rs262.51 against dollar
During Tuesday’s interbank trading, the Pakistani rupee (PKR) declined and experienced losses against the dollar, reaching a low of Rs265 versus the dollar.The rupee lost 63 paisas versus the dollar by the time markets closed, depreciating by 0.24 per cent. The local currency commenced trading at Rs261.50 versus the US dollar with full red value.…
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SBP-held foreign exchange reserves drop to a highly critical level of $2.92 billion
The State Bank of Pakistan (SBP) has reported a decrease in its foreign exchange reserves, as reflected in data released on Thursday. The reserves fell to a total of $2.92 billion, marking a reduction of $170 million. According to the recent data, the current level of reserves held by the bank has reached its lowest…
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Pakistani rupee gains Rs1.28 against US dollar, closes at Rs275.30
On Monday, the Pakistani rupee exhibited a slight improvement in its exchange rate against the US dollar, closing with a gain of 0.46 per cent in the inter-bank market. The local currency settled at Rs275.30 per US dollar, an improvement of Rs1.28, according to the State Bank of Pakistan (SBP). During the current fiscal year,…
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Intraday update: Pakistani rupee drops to historic low of Rs278.67 against US dollar
After Finance Minister Ishaq Dar authorised a proposal for charity groups to help raise almost $2 billion from overseas Pakistanis, the Pakistani rupee (PKR) fell by over 2.5 per cent against the dollar during intraday trade on Friday, falling as low as Rs278 against the dollar. The rupee was trading at Rs278.67 versus the dollar…
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‘Toughest’ technical level talks between Pakistan and IMF on ninth review begin in Islamabad
Negotiations to reach a staff-level agreement on the ninth review of the $7 billion Extended Fund Facility (EFF) have started between Pakistan and the International Monetary Fund (IMF) on Tuesday. As the cash-strapped government launches new efforts to conclude the lingering ninth review, Finance Minister Ishaq Dar is leading the Pakistani side and Nathen Porter…
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The petrol hike might make you cry but at least these hilarious memes won’t
How do Pakistanis start a Sunday morning?Apparently, by learning about how their budgets will be stretched out even further.Pakistanis woke up on Sunday morning to learn that a new petrol hike had announced by the Finance Minister, Ishaq Dar. In a press conference, he revealed that a Rs 35 increase would be applied from 11…
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‘Misleading and incorrect’: OGRA rejects speculations about massive petrol price hike
The Oil and Gas Regulatory Authority (OGRA) on Saturday rubbished rumours about a whooping increase of Rs80 per litre in petrol price. “It has been observed that speculative prices of gasoline and diesel are being reported in the print and electronic media since last evening, which is misleading and incorrect,” an OGRA spokesman said in…
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Intraday update: Pakistani rupee drops to Rs268.30, losing more than Rs12 versus US dollar
Pakistani rupee (PKR) continued its downward trend on Friday, with the rupee declining over Rs12 versus the US dollar in the interbank market. The local currency was trading at Rs268.30, compared to yesterday’s close of Rs255.43 in the interbank market. The dollar has gained Rs30.41 in the interbank market since Thursday as exchange companies removed…
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Gold price hits all-time high of Rs195,500 per tola after removal of an unofficial dollar cap
Gold prices in Pakistan continued their record-breaking spree as the price of 24-carat gold reached an all-time high of Rs195,500 after gaining Rs4,900. In addition, the price of 10 grammes also witnessed an increase of Rs4,201 to settle at Rs167,610, according to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA). Moreover, the bullion rate in…