Tag: Stability
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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.
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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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Dr Murtaza Syed assumes charge as the new Governor State Bank of Pakistan
With effect from May 5, Dr Murtaza Syed, the senior-most Deputy Governor and a former Deputy Resident Representative of the International Monetary Fund (IMF), became the new acting Governor of the State Bank of Pakistan (SBP). Prior to this, the federal government named Dr Syed as the Deputy Governor of the SBP for three years on…
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Pakistani rupee plunges by Rs1.05 against the US dollar
In today’s interbank session, the Pakistani rupee (PKR) fell by Rs1.05 versus the US dollar (USD), concluding at Rs186.97 per US Dollar, compared to Rs185.92 per USD on April 20. The rupee had a tumultuous market session, with an intraday high of Rs187.10 and a lowest of Rs186.25. This depreciation of PKR is attributed to the…
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State Bank of Pakistan hikes interest rate to 12.25% in an emergency meeting
Following an emergency meeting, the State Bank of Pakistan (SBP) raised interest rates by 250 basis points, as mounting political uncertainty and rising worldwide oil prices threaten to drive the country into a full-fledged economic catastrophe. The key rate is now 12.25 per cent, as per the latest statement released by the central bank on Thursday.…