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Inflation rises to 48-year high as IMF visits | The Express Tribune
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[ad_1] KARACHI: Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55 percent, the highest since May 1975, with thousands of containers of imports held up at…
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Inflation rises to 48-year high as IMF visits | The Express Tribune
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[ad_1] KARACHI: Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55 percent, the highest since May 1975, with thousands of containers of imports held up at…
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Gold soars to new life high of Rs210,500 per tola
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[ad_1] People buy jewellery at a jewellery store in Amritsar on October 22, 2022. — AFP/File Pakistan’s gold market opened the week on a whopping note to hit a new high Monday as the rupee bled more value on the altar of the International Monetary Fund (IMF) so that Pakistan could finally win a long-denied…
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SBP raises key interest rate to 25-year high of 17%
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[ad_1] State Bank of Pakistan Governor Jameel Ahmad addresses a press conference in Karachi on January 23, 2023. — AFP KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) Monday raised the key interest rate by 100 basis points (bps), taking it to 17% — the highest since October 1997. In…
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World food prices hit record high in 2022
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[ad_1] A woman shops for groceries at a supermarket in Monterey Park, California on October 19, 2022. — AFP PARIS: World food prices fell for a ninth month in a row in December, though they hit their highest level on record for the full year in 2022, UN data showed Friday. Food prices soared to…
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Gold price retreats from all-time high in Pakistan
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[ad_1] An undated image of a woman holding gold bangles. — AFP/File Gold prices snapped their 12-day-long gaining streak on Friday as investors holding long positions took profits, however, the outlook remained bullish with rates hovering near a record peak. According to All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold plunged…
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Gold hits all-time high in Pakistan as economic woes spur buying frenzy
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[ad_1] — AFP Gold prices in Pakistan surged to a record high as people took refuge in the safe-haven metal on mounting concerns that the nation’s economic condition conditions will deteriorate further. For the first time in the history of Pakistan, per tola price surpassed the Rs172,000 mark. The prices surged by Rs800 per tola…
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Gold jumps to historic high in Pakistan as investors seek safe investment
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[ad_1] A representational image of gold bars. — AFP/File Gold prices reached historic highs as the rupee continued to lose ground against the dollar. The liquidity crunch has increased safe-haven buying in the local market. The price of precious metal recorded the same gains as yesterday that is an increase of Rs500 per tola and…
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Gold hits new high of Rs170,900 per tola in Pakistan on safe-haven buying
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[ad_1] An image of gold necklace showcased in a jewellery shop. — AFP/File Amid constant depreciation of rupee against the US dollar, gold and silver continued to shined in Pakistan, rising to their all-time high levels on Wednesday. Gold prices registered a meagre gain of Rs100 per tola and Rs86 per 10 grams to settle…
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Gold races back to fresh high of Rs170,800 per tola in Pakistan
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[ad_1] A customer holds gold jewellery at a jewellery showroom on May 3, 2022. — AFP/File In line with a massive surge in the international market, the gold price jumped by Rs2,000 per tola in Pakistan, surpassing a major threshold of Rs170,000 per tola for the first time in the country. Earlier, the All Pakistan…
