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Rupee hits new 5-month high at 278.74/$ | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency edged up to a new over five-month high at Rs278.74 against the US dollar in the interbank market, maintaining an uptick for the third consecutive working day, fuelled by relatively better supply of the greenback in the domestic economy. According to the State Bank of Pakistan’s (SBP) data, the domestic…
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Rupee rises to 4-1/2-month high vs dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani currency on Friday hit a four-and-a-half-month high at Rs279.04 against the US dollar in the inter-bank market where it extended its uptrend for the second consecutive day. The latest, meaningful increase in the rupee value came in the wake of International Monetary Fund’s (IMF) positive response to Pakistan over the request of…
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Rupee falls slightly from 4-month high | The Express Tribune
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[ad_1] KARACHI: The stabilising Pakistani currency on Friday slightly depreciated to Rs279.19 against the US dollar in the inter-bank market, coming down from over four-month high in the wake of a decline in the central bank’s foreign currency reserves below $8 billion. According to State Bank of Pakistan’s (SBP) data, the rupee ticked down 0.02%,…
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SPI rises to 7-week high amid gas price surge | The Express Tribune
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[ad_1] KARACHI: Pakistan’s inflation rose to a seven-week high at 1.27% in the week ending February 29, primarily due to the recent significant increase in gas prices by the government, which greatly influenced the short term inflation figures. The weekly SPI (Sensitive Price Indicator) inflation had slowed to 0.04% in the previous week ending February…
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Bank financing hits record high | The Express Tribune
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[ad_1] design: mohsin alam KARACHI: Pakistan’s commercial banks have continued to freely lend to the cash-strapped government at elevated rates of return, taking their financing to a record high of 93% of total deposits in January 2024. According to data compiled and shared by Optimus Capital Management (OCM), banks’ credit to the private sector, however,…
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CAD at 6-month high as outflows rise | The Express Tribune
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[ad_1] Country-wise major outflow was witnessed from China ($225 million) and sector-wise major outflow witnessed in the power sector ($243 million) in January 2024. Photo: afp KARACHI: Pakistan’s balance of the current account failed to stay in surplus for the second successive month, hitting a six-month high deficit of $269 million in the wake of…
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IMF loan uncertainty very high | The Express Tribune
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[ad_1] KARACHI: Moody’s Investors Service has given a “credit negative” signal to Pakistan in the face of prolonged political ambiguity and social tensions over election results, which will make it tough to approach the IMF for a new programme, weaken external economy and make liquidity management more challenging. In its report titled “Political uncertainty persists…
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Debt burden surges to record high of Rs81.2 trillion | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s total debt and liabilities have peaked at Rs81.2 trillion – a figure that grew at a faster pace of over 27% during the past year, posing emergent management challenges to the newly elected government. The bulletin released by the State Bank of Pakistan (SBP) on Monday showed that the country’s total debt…
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Valentines Day spending expected to reach record high in US
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[ad_1] A couple holding a gift. — Pixabay Valentine’s Day is a day of love when couples express their affection towards each other with greetings and presents. It is annually celebrated on February 14. Couples celebrate the day with the utmost happiness, while single people spend it cooped up in a corner. If you’re one…
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Rupee hits 10-week high against US dollar | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee strengthened to almost Rs281.50 against the US dollar, achieving a 10-week high in the interbank market on Friday. The uptrend continued for the third consecutive working day, with a notable boost in foreign currency inflows contributing to the positive momentum. State Bank of Pakistan (SBP) data revealed a 0.10% increase,…
