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Gold rate in Pakistan races to historic high
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[ad_1] A representational image of gold bangles. — AFP/File Gold price jumped to a historic high in Pakistan after the rupee’s record depreciation against the dollar stampeded investors towards the safe-haven metal. The price of gold (24 carats) increased by Rs600 per tola and Rs514 per 10 grams to settle at Rs218,300 and Rs187,157, respectively,…
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Govt increases profit rate on savings certificates | The Express Tribune
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[ad_1] KARACHI: The government has revised the rate of profit on national saving schemes by upto 4.13% to make the schemes lucrative and mobilise investment from the general public, a local research house reported. The Central Directorate of National Savings (CDNS) has increased the rate of return on Special Savings Certificates (SSC) by 4.13% to…
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SBP hikes policy rate by 100bps to record high of 21% | The Express Tribune
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[ad_1] In line with market expectations, Pakistan’s central bank hiked its benchmark policy rate by 100 basis points to a new record high of 21% on Tuesday as the bank took measures to anchor rising inflation in the country. State Bank of Pakistan (SBP) said on its official Twitter handle “MPC (monetary policy committee) views…
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Gold slips ahead of interest rate announcement next week
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[ad_1] An undated image of gold bars. — AFP/File Gold prices registered meagre losses on Saturday as investors stayed on the sidelines ahead of the Monetary Policy Committee (MPC) announcement due next week. Data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) declined by Rs400 per…
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Further rate hike unlikely to control inflation | The Express Tribune
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[ad_1] KARACHI: Pakistan’s economy has slowed down significantly partly due to a persistent hike in the key policy rate to a record high at 20%. The rate hike has lately become “ineffective” and a further rise will only aggravate the economic woes. The policy rate is a tool available with the central bank to control…
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Gold rate sees massive decline in Pakistan
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[ad_1] An undated image of a goldsmith showing a gold ornament to a customer. — AFP/File Gold extended losses into a second session on Tuesday, closing slightly above the threshold of Rs204,000 per tola in line with price movement in the international market. The price of gold (24 carats) fell by Rs3,100 per tola and…
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Gold price rises for sixth session, rate surges above Rs204,000 per tola
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[ad_1] An undated image of gold jewellery showcased at a jewellery store. — AFP/File Gold edged lower on Friday, extending gains to a sixth straight session, as deteriorating economic indicators bolstered demand for the precious commodity. According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats)…
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SVB collapse causes headaches for US Fed before rate decision
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[ad_1] The entrance to the Federal Reserve’s William McChesney Martin Building as government financial institutions join force to bail out Silicon Valley Bank’s account holders after it collapsed on Mar 13, 2023 in Washington, DC.— AFP WASHINGTON: The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve’s current cycle of…
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Canada central bank pauses rate hikes, holds at 4.5%
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[ad_1] In this file photo taken on April 12, 2011, the Bank of Canada building in Ottawa. — AFP OTTAWA: The Bank of Canada on Wednesday became the first major central bank to pause its aggressive monetary policy in recent months, holding its key lending rate at 4.5% as inflation eased, after eight consecutive rate…
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Gold rate falls in Pakistan on rupee’s recovery
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[ad_1] A representational image of gold jewellery. — AFP/File Gold rate plunged Friday following a handsome recovery of the Pakistani rupee against the US dollar, prompting investors to rethink their strategy about shifting towards the safe-haven metal. Data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the prices of gold (24 carats)…
