dollar
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In bid to dent grey market, exchange companies remove US dollar cap
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[ad_1] A vendor at an exchange company counts dollars in this undated photograph. — AFP/File KARACHI: The Exchange Companies Association of Pakistan (ECAP) has decided — effective from tomorrow (Wednesday) — to remove the cap on the US dollar, in a bid to end the surging “artificial” demand for the greenback in the money market. The…
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SBP chief expects dollar inflows from next week
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[ad_1] An undated image of State Bank of Pakistan Governor Jameel Ahmad. — Twitter/@StateBank_Pak State Bank of Pakistan (SBP) Governor Jameel Ahmad on Wednesday claimed that the country will start receiving inflows from next week giving the government much-needed breathing space amid the liquidity crunch that is currently gripping the cash-strapped nation. The central bank…
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Rupee continues to inch down against dollar
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[ad_1] A currency dealer counting $100 notes while a stack of Rs500 is placed on table. — AFP/File The rupee continued a downtrend against the US dollar for a fourth successive session, with negative sentiments on the country’s dwindling foreign exchange reserves taking a toll on the local currency. The local unit closed the day…
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Rupee depreciates beyond 225 to a dollar | The Express Tribune
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[ad_1] KARACHI: With a widening gap between demand and supply of the US dollar, the value of Pakistani currency on Tuesday depreciated beyond 225 against the greenback in the inter-bank market after a gap of two and a half month. The rupee slid by 0.08% (or Rs0.20) to Rs225.12 against the US dollar compared to…
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Rupee continues to fall unabated against dollar
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[ad_1] The currency dealer is counting Rs500 notes. —AFP/File The Pakistani rupee continued to register losses against the dollar for the seventh consecutive session in the interbank market as investors await foreign financing and development on the ninth review of the International Monetary Fund (IMF). The local currency closed at Rs224.7 after a meagre decline…
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Dollar smugglers devise novel ways | The Express Tribune
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[ad_1] ISLAMABAD: Despite official foreign currency reserves falling to a critically low level of $6.7 billion, the government has failed to stop the smuggling of the dollars to Afghanistan that was underway using orange crates and with the connivance of law enforcement agencies (LEAs), revealed the proceedings of a huddle held on Friday. It also…
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Dollar liquidity crunch, IMF limbo weakens rupee against dollar
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[ad_1] A representational image of $100 notes. — AFP/File Owing to uncertainty surrounding the delay in the International Monetary Fund (IMF) funding and depleting foreign exchange reserves, the Pakistani rupee on Thursday depreciated for the fourth consecutive week. The local unit closed at 224.37 against the greenback after losing 0.09% compared to Wednesday’s close of 224.16, the…
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Rupee snaps long, steady streak vs dollar
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[ad_1] A currency dealer can be seen counting Rs500 notes. — AFP/File Pakistani rupee Monday snapped a week-long steady streak against the US dollar as worries over informal channels of currency trading gained traction. The local unit closed the session at 223.91 against the US dollar in the interbank market after losing 0.10% compared to…
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Rupee remains steady against US dollar
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[ad_1] Currency dealers are exchanging Rs1,000 note. — AFP/File KARACHI: The Pakistani rupee remained steady against the US dollar in the interbank market on Monday owing to lukewarm demand for the greenback, while dealers are not upbeat on a strong recovery until foreign exchange reserves are replenished. The rupee finished at 223.95 to the dollar…
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Pakistan rupee flat as demand outstrips dollar supply
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[ad_1] A money dealer talks to customers holding two phone receivers to both his ears as he displays $100 banknotes at a foreign exchange company. —AFP/File KARACHI: Pakistan’s rupee Friday ended flat against US currency, mostly owing to corporate demand for the dollar amid diminished supplies. The currency ticked down Rs0.02 or 0.01% to close…
