Tag: Forex
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Pakistani rupee finally ends 28-day winning streak, loses against US dollar
The Pakistani rupee’s remarkable 28-day winning streak against the US dollar came to an end today, as it recorded losses following an initial trade opening at Rs278.5 in the interbank market.
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Pakistani rupee appreciates by Rs5.07 against US dollar in five days
During the past week, the Pakistani rupee (PKR) showed a notable increase in value against the US dollar (USD), appreciating by 5.07 PKR to reach a closing rate of 277.62 PKR per USD. This stands in contrast to the previous week’s closing rate of 282.69 PKR per USD.
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Pakistan’s foreign exchange reserves increase by $31 million, reaching $7.64 billion
The State Bank of Pakistan (SBP) reported an increase of $31 million in its foreign exchange reserves on a weekly basis, reaching a total of $7.64 billion as of October 6, according to data released on Thursday.
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US dollar hits six-month low against Pakistani currency
The Pakistani rupee (PKR) has been on an upward trajectory, with the US dollar (USD) experiencing its lowest value in six months. This development follows a concerted effort to combat dollar smuggling, resulting in a decrease of Rs5.50 in interbank trading this week. The greenback concluded the week at Rs282.69.
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Pakistan’s forex reserves decline by $59 million to $7.64 billion due to debt payments
The State Bank of Pakistan (SBP) reported a weekly decrease in foreign exchange reserves, with a decline of $59 million, bringing the total to $7.64 billion as of September 22, according to data released on Thursday. The overall liquid foreign reserves of the country amounted to $13.16 billion, with commercial banks holding net foreign reserves…
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SBP-held forex reserves rise by $12 million to $8.05 billion, sufficient to cover over two months’ worth of imports
The State Bank of Pakistan (SBP) announced a rise of $12 million in its foreign exchange reserves, reaching $8.05 billion, as detailed in a statement released on Thursday. The nation’s overall liquid foreign reserves, encompassing both SBP and commercial banks, amounted to $13.379 billion as of August 11. Among these, commercial banks held net reserves…
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Pakistani rupee drops to Rs295 against US dollar
It seems like the Pakistani rupee is headed for a new historic low, as on Wednesday, it dropped further against the US dollar, losing Rs3.42 or 1.17 percent to reach Rs294.95 per dollar.
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Fitch and Moody’s: IMF loan provides temporary relief for Pakistan, but risks remain
Fitch Ratings and Moody’s Investors Service issued warnings on Monday regarding Pakistan’s financial sustainability, despite the recent acquisition of a much-needed $3 billion lifeline from the International Monetary Fund (IMF).
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Pakistan commits to boost foreign exchange reserves to $11.7 billion by 2024
Pakistan has made a commitment to the International Monetary Fund (IMF) to significantly improve its gross foreign exchange reserves by $7.65 billion. The goal is to raise the reserves to $11.7 billion by the end of the financial year 2024, up from the current level of $4.056 billion in the financial year 2023. This move…
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PM Shehbaz urges IMF to release stalled funds, assures compliance with conditions
On Thursday, Prime Minister (PM) Shehbaz Sharif had a meeting with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), where he urged the lender to release the stalled funds for Pakistan. He assured the IMF of Pakistan’s compliance with all the conditions set by the lender.