India’s August retail inflation stays below 4% for second consecutive month | The Express Tribune
NEW DELHI: India’s August retail inflation remained below the central bank’s target of 4% for the second consecutive month, but vegetable prices continued to soar, dampening hopes of a dovish stance in the next monetary policy meeting. Annual retail inflation was at 3.65% in August, higher than the revised 3.60% in July and economists’ forecast of 3.5%. India’s […]
Rupee drops for third consecutive day | The Express Tribune
KARACHI: Pakistani currency dropped Rs0.05 and closed at Rs278.73 against the US dollar in the inter-bank market on Wednesday, maintaining its losing streak for the third consecutive day amid conflicting reports about the resumption of smuggling of foreign currencies from Pakistan to neighbouring countries. According to the State Bank of Pakistan (SBP) data, the rupee […]
SBP keeps policy rate unchanged for fifth consecutive time | The Express Tribune
KARACHI: The State Bank of Pakistan (SBP) left its key policy rate unchanged on Monday at a record high of 22% for the fifth consecutive time in the past nine months, taking a cautious approach against a likely uptick in inflation readings amid the ongoing talks with the International Monetary Fund (IMF). In its latest […]
China’s population shrinks for second consecutive year amid struggling economy — but why?
People walk along a pedestrian street during a Labor Day holiday in Shanghai on May 1. — AFP/File In 2023, China’s population shrank for the second consecutive year, and the country reported a record-low birth rate resulting in a pattern that signalled the intensification of a demographic dilemma that is expected to have a big […]
After gains in 28 consecutive sessions, rupee depreciates
A vendor at an exchange company counts dollars in this undated photograph. — AFP/File Following 28 days of straight gains against the US dollar, the Pakistani rupee Tuesday fell due to a correction, analysts said. The local currency fell Re0.2 or 0.07% against the dollar in the interbank market to close at 277.03, according to […]
Dollar falls by Rs1.05 as rupee strengthens for 17th consecutive session
A currency dealer can be seen counting $100 notes while Rs5,000 notes are placed on the table. — AFP/File The Pakistani rupee as part of its recent upward trend, strengthened by Rs1.05 in the interbank market on Wednesday. The rupee appreciated by 0.36% against the US Dollar from yesterday’s close of Rs289.8 as the greenback […]
Gold price in Pakistan declines for third consecutive day
An undated file image of gold sets displayed at a jewellery store. — AFP/File The gold price in Pakistan witnessed a slide for the third day in a row, declining by Rs800 per tola on Wednesday. The price of gold (24 carats) fell to Rs227,300 per tola after losing Rs800 and the price of 10 […]
SBP-held foreign exchange reserves fall for third consecutive week
A person holds $100 notes in their hand. — AFP/File State Bank of Pakistan (SBP)-held foreign exchange reserves fell for the third straight week due to external debt payment as the South Asian nation fails to acquire external financing amid a stalled bailout programme. In its weekly bulletin, the SBP said its reserves had decreased […]
Rupee gains ground for fourth consecutive session
A Pakistani dealer counts US dollars at a currency exchange shop in Karachi on October 9, 2018. — AFP The Pakistan rupee registered gains against the US dollar for the fourth consecutive session as the investors’ sentiments were boosted following an adequate dollar supply in the market and hopes of revival of the International Monetary […]
New peak: Gold price continues to climb for 8th consecutive day
An undated file image of gold bars. — AFP/File Gold prices continued to rise in Pakistan for the eighth consecutive day as investors took refuge in the safe-haven asset to avoid the impact of high inflation. Gold prices surged by Rs500 per tola and Rs429 per 10 grams to settle a historic high of Rs170,900 […]