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Indian rupee hits record low amid ‘sustained inflation’ | The Express Tribune
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[ad_1] MUMBAI: The Indian rupee hit record lows against the US currency on Tuesday after higher oil prices raised concerns of sustained inflation, although intermittent dollar selling by the central bank helped limit losses. The partially convertible rupee was trading at 78.75/76 per dollar by 0745 GMT, compared to its close of 78.34 on Monday. The…
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Malaysia plans record $18b subsidy | The Express Tribune
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[ad_1] KUALA LUMPUR: Malaysia is expected to spend 77.3 billion ringgit ($17.6 billion) in subsidies and cash aid this year, the largest amount in history, to help temper the effects of rising prices, its finance minister said on Saturday. Prices of goods have jumped in Malaysia in recent months due to supply chain disruptions, labour…
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Rupee hits fresh record low at 211.93 | The Express Tribune
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[ad_1] KARACHI: Pakistani currency maintained its downward streak on Wednesday, but the drop was lower than the ones recorded for most of the days in the past three months. The rupee trimmed 0.21% (or Rs0.45) of its value to a new all-time low at Rs211.93 against the US dollar in the inter-bank market compared to…
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China May oil imports from Russia soar to a record | The Express Tribune
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[ad_1] SINGAPORE: China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine. Imports of Russian oil, including supplies pumped via the East Siberia Pacific…
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Rupee touches fresh record low at 208.75 | The Express Tribune
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[ad_1] KARACHI: Pakistani currency maintained its free fall for the sixth consecutive working day, as it lost 0.53% to a new record low at Rs208.75 against the US dollar in the inter-bank market on Friday amid the worsening country’s capacity to make international payments for imports and repay foreign debt. The currency crossed Rs209 for…
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Rupee shoots past record Rs206 against USD | The Express Tribune
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[ad_1] KARACHI: In line with expectations, the rupee has plunged further and crossed Rs206 against the US dollar for the first time in the inter-bank market on Wednesday. The domestic currency was available at Rs206.09 against the greenback, losing a fresh Rs0.93, a currency market dealer reported at 9.45 am. This is the fourth consecutive working…
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In new record low, rupee crosses 205 | The Express Tribune
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[ad_1] KARACHI: Pakistani currency crashed and crossed Rs205 against the US dollar for the first time in the inter-bank market on Tuesday, as conflicting reports about the revival of IMF loan programme played on traders’ minds and made the foreign exchange market jittery. The rupee lost 0.63% (or Rs1.30) to stand at Rs205.16 against the…
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Indian rupee hits record low on rate hike worries | The Express Tribune
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[ad_1] MUMBAI: The Indian rupee plunged to a record low against the dollar on Monday, ahead of an expected US interest rate hike this week, aimed at fighting surging inflation. The rupee hit 78.2825 per dollar for the first time as a forecast-beating US inflation report on Friday heightened prospects for a further tightening of…
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US gas price hits a record $5 a gallon: auto group
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[ad_1] — AFP NEW YORK: The average price of premium gasoline at the pump has surpassed $5 a gallon for the first time in the United States, the American Automobile Association (AAA) reported Saturday. That record level, coming on top of months of soaring inflation, represents the latest bad news for President Joe Biden just…
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India rupee hits record low amid sustained rise in global crude | The Express Tribune
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[ad_1] MUMBAI: The Indian rupee hit a record low against the US dollar on Thursday as the relentless surge in global crude oil prices raised concerns about a sustained rise in imported inflation, while choppy domestic shares also hurt. The partially convertible rupee was trading at 77.79/80 per dollar after touching a record low of 77.81.…
