Tag: downfall
-
Pakistani rupee falls to record low of Rs230 versus US dollar
As the political situation in the country worsens, the Pakistani rupee (PKR) touched an all-time low versus the US dollar on Monday during intraday activity in the interbank market. Data from the State Bank of Pakistan (SBP) show that during intraday trade, the PKR fell to Rs230 from a rate of Rs228.37. As local currency…
-
Hyundai Sonata 2.5 will now cost Rs7.85 million
Like the majority of automakers in Pakistan, Hyundai Nishat has joined the price hike bandwagon by raising the price of its sedan offerings; the Elantra GLS, Sonata 2.0, and Sonata 2.5 variants, due to increased shipping costs and continuous depreciation of the local currency. The premium category sedan, Hyundai Sonata 2.0 witnessed an increase of…
-
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…
-
‘Stablecoin’ crashes, bitcoin set for a record losing run
Following the collapse of TerraUSD, a so-called stablecoin, resonated across markets, cryptocurrencies suffered significant losses on Friday, with bitcoin trapped below $30,000 and on track for a record losing streak. Concerns about high inflation and rising interest rates have prompted widespread dumping of hazardous investments, including crypto assets. However, sentiment is particularly shaky, as tokens…