Tag: downtrend
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Pakistani rupee falls to Rs233 per US dollar in the interbank market
The Pakistani rupee (PKR) continued to fall on Tuesday as the country’s political turmoil worsened, trading at Rs233 to the dollar in the interbank market. Today, the US dollar gained Rs3.12 versus the local currency, compared to the previous day’s finish of Rs229.88, which was an all-time high at the time. The local currency has…
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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…
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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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Gold surges to Rs147,250 per tola in local market
On Monday, gold prices in the local market rose by Rs1,450 per tola to a new all-time high, pushed up by the Pakistani currency’s continued depreciation against the US dollar. Despite no change in gold rates in the international market, gold rates in the local market increased to Rs147,250 per tola, according to data released…
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Intra-day trade: Pakistani rupee touches Rs207.7 against US dollar
In intra-day trade in the inter-bank market on Thursday, the local currency sank to Rs207.7 against the US dollar, continuing its downward trend. The rupee hit an all-time low against the dollar on Wednesday, closing at Rs206.46. This was partly due to the strengthening of the dollar on the international stage, but it was also…
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Pakistani rupee falls to a new all-time low of Rs205 against the US dollar
In the interbank market today, the Pakistani Rupee (PKR) plummeted below its previous record low versus the US Dollar (USD). The local currency lost Rs1.30 in the interbank market today, depreciating by 0.63 per cent against the US dollar and closing at Rs205.16. During today’s open market session, the local currency reached an intraday high…
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After five days of losses, British stocks holding firm
A day after economic slowdown fears dragged the major British stocks to their sixth straight session of losses, UK equities stabilised on Tuesday, with some positive momentum from financial sectors and some excellent earnings announcements. By 0712 GMT, the FTSE 100 had up 0.6 per cent, with shares in British bank HSBC up 2.6 per…
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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…
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Pakistani rupee nearing an all-time low
On Monday, the Pakistani rupee (PKR) fell for the third consecutive session as depleted foreign exchange reserves and uncertainty over the renewal of the International Monetary Fund (IMF) programme weighed on the local currency. The PKR lost 0.48 per cent of its value against the US dollar in the interbank market. The rupee ended the…
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Pakistani rupee continues its record-breaking decline against the US Dollar
The Pakistani Rupee (PKR) continued its decline against the US Dollar (USD) today, reporting losses in the interbank market. At the close of the session today, the local currency lost 30 paisas against the US dollar. It fell 0.16 percent against the US dollar, closing at Rs182.64 after losing 30 paisas and closing at Rs182.34…