Tag: Dollar
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Pakistani rupee witnesses biggest single-day decline against dollar in more than two decades
Pakistani rupee dropped significantly against the US dollar in the interbank market on Thursday, as it fell more than 9 per cent during the intraday trade. Around 1:30 PM, the dollar’s intraday quote was Rs254.75, which represents a depreciation of Rs23.86. According to Ismail Iqbal Securities, “This is the largest single-day decline in both absolute…
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Exchange companies remove cap on dollar-rupee exchange rate to abolish grey market
The exchange companies have decided to stop artificially keeping Pakistani rupee (PKR) overvalued against US dollar in the open market and let the rupee-dollar exchange rate depreciate to its actual value. Pakistani rupee may steadily lose value until it reaches the level of the grey market in a few days, according to reports. The black…
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Pakistan has ample fuel stocks available: PSO denies reports of petrol, diesel shortage
Pakistan State Oil (PSO) on Friday denied all the rumours about the shortage of fuel reserves and said that there is ample stock of petroleum products in the country. The Ministry of Energy and Oil & Gas Regulatory Authority (OGRA), according to the PSO spokesman, is keeping an eye on the general situation regarding product…
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Dollar inflows from next week will increase foreign exchange reserves: SBP governor
Governor of the State Bank of Pakistan expressed hope on Wednesday that the situation of Pakistan’s foreign exchange reserves will improve.
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Export industry is one of the highest priorities of govt: Ishaq Dar
Federal Minister for Finance and Revenue Ishaq Dar on Monday said that the government will make it easier for all exporters to import the raw materials, components, and accessories they need to meet their demands, including five previously zero-rated export-oriented sectors. “Export industry is one of the highest priority of our government,” the minister wrote…
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Experts predict gold price may reach Rs200,000 per tola soon
On Wednesday, the price of gold reached another record high as it continued its upward trend. The price of precious yellow metal in Pakistan is currently higher than the global market. Gold prices increased by Rs900 per tola and Rs772 per 10 grammes, respectively, according to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA). These…
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Pakistani rupee remains unchanged for the 4th time in a week
The Pakistani rupee (PKR) once again remained unchanged versus the US dollar in the interbank market during the final trading session of the week. It is worth noting that this is the fourth time that the local currency has shown a 0.00 per cent change this week. The only change witnessed in the rupee’s value…
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PKR remains largely stable after Pakistan receives $500 million
Strangely, the Pakistani rupee (PKR) did not increase or decrease at the time of closing on Tuesday. The PKR’s closing rate was Rs223.95 and showed no change from its previous closing rate of Rs223.95. The local currency only declined by one paisa on Monday. After falling for four straight days, the rupee’s slide against the…
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Pakistani rupee depreciates for the 5th day in a row, settles at Rs222.67
The Pakistani rupee (PKR) lost 0.12 per cent on Thursday in the inter-bank market, continuing its downward trend against the US dollar. The rupee dropped by Rs0.26 and ended the day at Rs222.67. The rupee has decreased by Rs1.25, or 0.56 per cent, over the last five trading sessions. PKR continued to lose value against…
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Pakistani rupee drops by 0.35% to close at Rs221.43 versus dollar
As investors await the US Federal Reserve’s decision on the policy rate, the Pakistani rupee (PKR) depreciated by 0.35 per cent against the greenback on Wednesday. According to the State Bank of Pakistan (SBP), the local unit appreciated by Rs0.78 and ended the day at Rs221.43. The Pakistani rupee enjoyed gains against the US dollar…