market
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Rupee slides to 265.83 in interbank market over IMF concerns | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency nosedived 1.65% (or Rs4.33) to Rs265.83 against the US dollar in the interbank market at 12:45 pm on Wednesday. The latest drop follows the International Monetary Fund (IMF) expressing concern with the incumbent government regarding the still-present control of the rupee in the interbank market. The rupee also took a…
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Rupee continues winning streak against dollar amid ‘market optimism’
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[ad_1] A representational image of a man counting rupee notes at a money exchanger. — AFP/File The Pakistani rupee further strengthened on Wednesday against the dollar, continuing its winning streak in the interbank market as the government gears up to present a mini-budget to meet the International Monetary Fund’s (IMF) terms. In the interbank market,…
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Adani group’s market losses hit $100b as stocks sink | The Express Tribune
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[ad_1] NEW DELHI: India’s Adani group shares plunged on Thursday after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market capitalisation losses to $100 billion since last week’s short-seller attack. The withdrawal of Adani Enterprises’ (ADEL.NS) share sale marks a dramatic setback for Adani, the school…
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Rupee freefalls to 268.3 against USD in interbank market | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency maintained a freefall for a second consecutive day, plunging by a fresh 4.78% (or Rs12.87) to a new all-time low of Rs268.30 against the US dollar in the interbank market at around 10:30 am on Friday. Yesterday, the currency recorded the single largest slump in a day of 9.61% (or…
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Rupee falls 0.92% against dollar in open market
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[ad_1] A money exchange employee counts dollars. — AFP/File KARACHI: The Pakistani rupee Wednesday fell further against the US dollar after the exchange companies removed the unofficial cap on the greenback, hoping to dent the grey market. The rupee closed at 243 against the dollar, falling 2.25 or 0.92%, the Exchange Companies Association of Pakistan…
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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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‘US market bursting with potential for Pakistani products’ | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s Consul General-designate to Los Angeles Asim Ali Khan, on Tuesday urged Pakistani exporters to accelerate efforts in capitalising on opportunities available in the United States’ (US) market. “The US market offers many openings for exports and Pakistani entrepreneurs should accelerate efforts to capitalise on these opportunities to increase exports and earn more…
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Rupee sees minor gain against US dollar in interbank market
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[ad_1] A file image showing a currency dealer counting $100 notes — AFP/File KARACHI: The Pakistani rupee finally snapped its multi-day losing steak as it registered a slight gain of 0.01% against the greenback in the interbank market on Friday. According to the State Bank of Pakistan (SBP), the rupee closed at 221.92 after an…
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Rupee edges up against US dollar in interbank market
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[ad_1] A file image showing a currency dealer counting $100 notes — AFP KARACHI: In view of loan tranche expectations from the International Monetary Fund (IMF), the Pakistani rupee on Tuesday continued to recover against the US dollar in the interbank market. As per the latest statistics issued by the State Bank of Pakistan (SBP),…
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PM claims Pakistan ‘ripe’ for market innovation to secure investment
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[ad_1] Prime Minister Shahbaz Sharif addresses Future Investment Initiative Summit in Riyadh, Saudi Arabia on October 25, 2022. — PID/File ISLAMABAD: Prime Minister Shahbaz Sharif Tuesday said Pakistan was ripe for market innovation as the new generation of Pakistani entrepreneurs was shying away from traditional businesses and turning their focus and energies to disruptive innovations. “I…
