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Rupee to range between 297 and 321 per dollar by June-end | The Express Tribune
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[ad_1] KARACHI: Pakistani currency is projected to depreciate 5-12% over the next six months to somewhere between Rs297 and Rs321 to a dollar in the inter-bank market by the end of current fiscal year on June 30, 2024. The forecast comes on the back of a potential uptick in demand for the greenback to pay…
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‘Ishaq-Dar policy appreciating rupee against dollar’
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[ad_1] Former minance minister Ishaq Dar addresses a press conference in Lahore on June 30, 2023. — AFP ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) Senator Ishaq Dar said Monday that it was due to the policies he put in place that the rupee had recently gained some ground against the dollar. “I consider the rupee’s depreciation…
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IMF expects dollar price to improve | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is likely to seek a waiver from the International Monetary Fund (IMF) for violating the condition of restricting the difference between inter-bank and open market currency rates as the lender improves its assumption for the average dollar price to Rs300. Highly placed sources said that compared to July’s underlying assumption of Rs305.2…
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Rupee rebounds to Rs278.81 against US dollar after sharp drop | The Express Tribune
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[ad_1] KARACHI: Despite recent setbacks, the Pakistani rupee exhibited resilience, quickly recovering to a rate slightly below Rs279 against the US dollar in the inter-bank market on Thursday. This positive turn of events can be attributed to the assurance from “authorities concerned” that no unusual demand for foreign currency exists in the market. According to…
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Rupee breaches 280 barrier against dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani rupee maintained its powerful rally for the 25th consecutive working day on Wednesday, breaching the strong psychological barrier of Rs280 against the US dollar for the first time in three months. According to State Bank of Pakistan’s (SBP) data, the currency gained 0.36%, or Rs1, and hit a new three-month high at…
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Iraq to halt all US dollar cash withdrawals from January 1, 2024
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[ad_1] Top-down view of US dollars and Iraqi dinars in an Iraqi bank. — AFP/File Iraq will ban cash withdrawals and transactions in US dollars as of Jan. 1, 2024, as per a top official of the Iraqi central bank, in the newest effort to stop the misuse of its hard currency reserves in financial…
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Rupee continues to rally against US dollar, gains Rs1.04 | The Express Tribune
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[ad_1] ISLAMABAD: Pakistani rupee on Tuesday witnessed its 20th consecutive recovery session as it gained Rs1.04 against the US dollar in the interbank trading and closed at Rs285.72 against the previous day’s closing of Rs 286.76. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open…
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Dollar falls by Rs1.05 as rupee strengthens for 17th consecutive session
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[ad_1] 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…
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Rupee breaches Rs290 mark against US dollar | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee has displayed significant strength, breaching the Rs290 mark against the US dollar for the first time in the past seven weeks. This marks its fifteenth consecutive working day of gains on Tuesday. According to data from the State Bank of Pakistan (SBP), the domestic currency has made further gains, appreciating…
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Rupee maintains bullish trend as dollar drops below 290 level
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[ad_1] A foreign currency dealer counts US dollars at a shop in Karachi on May 19, 2022. — AFP The Pakistani rupee continued its upward trajectory for the 16th consecutive session on Tuesday, hammering the US dollar below the Rs290 mark in the interbank market. The greenback lost Rs1.06 against the rupee in the interbank…
