Tag: international trade
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Pakistani rupee hits new all-time low of Rs304.445 after declining by Rs1.38 against US dollar
In the interbank session held on Wednesday, the Pakistani rupee (PKR) exhibited a decline of 1.39 rupees against the US dollar (USD). The closing exchange rate for the day stood at Rs304.445 per USD, in contrast to the concluding rate of Rs303.052 per USD observed in the preceding session.
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Pakistani rupee plunges to fresh record low of Rs303 against US Dollar
In a worrisome turn of events, the Pakistani rupee has continued its steady descent, hitting a new record low against the US dollar and raising concerns among economic analysts and policymakers. The local currency settled at Rs303.05 in the inter-bank market on Tuesday, marking a significant drop from its previous standing.
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China lifts ban on seafood product imports from Pakistan
China’s General Administration of Customs (GAC) has confirmed the resumption of aquatic product imports from Pakistan and several other countries, aiming to enrich the supply of domestic aquatic products and boost the stability of the seafood industry and supply chains. In a statement released on May 26, the GAC announced that imports from 20 overseas…
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Pakistan commits to IMF bailout deal without fuel subsidy scheme
Pakistan has informed the International Monetary Fund (IMF) that it will not be implementing a fuel subsidy programme during ongoing negotiations for a $1.1 billion bailout for the country. The IMF has stated that it will continue to engage with the government on the loan, despite increasing political tensions. Prime Minister had previously proposed a…
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Rupee depreciation may lead to an increase in petroleum prices, says Musadik Malik
Dr Musadik Malik, the State Minister for Petroleum, issued a warning on the potential increase of petroleum product prices due to the significant decline in the value of the Pakistani rupee against the US dollar. During an appearance on the Geo News program “Capital Talk” on Thursday, Dr Malik stated that the depreciation of the…