Rupee
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Rupee claws back some ground against dollar
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[ad_1] A dealer collect US dollars at a money exchange market in Karachi on January 26, 2023. — AFP The Pakistani rupee Monday gained some ground against the US dollar in the interbank market after exporters encashed their payments, improving the market’s sentiment. Data from the State Bank of Pakistan (SBP) showed that the local…
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Black Wednesday for Pakistani rupee | The Express Tribune
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[ad_1] KARACHI: Famous American writer and humourist Mark Twain once said, “History never repeats itself, but it does often rhyme.” However, the steepest rout for Pakistani rupee on Wednesday, January 25, carries many resemblances to the pound sterling crisis in the UK back on Wednesday, September 16, 1992, known in the history of financial markets…
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‘Tough’ IMF talks push rupee to Rs276.58 | The Express Tribune
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[ad_1] KARACHI: Reacting to Prime Minister Shehbaz Sharif’s statement that the International Monetary Fund (IMF) conditions are tough, the domestic currency dived almost 2% – or Rs5.22 – to hit a new all-time low closing at Rs276.58 against the US dollar in the interbank market on Friday. The latest drop in the rupee-dollar exchange rate…
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Rupee rout continues amid ‘tough’ IMF demands
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[ad_1] A foreign currency dealer counts US dollar notes at a currency market in Karachi on July 19, 2022. — AFP The already under-pressure Pakistani rupee declined further against the dollar on Friday following Prime Minister Shehbaz Sharif’s comments that the International Monetary Fund (IMF) is giving Pakistan a “tough time”. “As we speak, an IMF…
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Gold dazzles as rupee rout continues
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[ad_1] A re[resentational image of gold jewellery. — AFP/File Gold price in Pakistan continued to gain following the international precious metal markets that are rising in reaction to a hawkish US Federal Reserve, while the rupee’s plunging to a historic low also drove investors towards gold — as saving options already remain limited. The price…
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Rupee weakens against dollar amid ambiguity on IMF talks
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[ad_1] A representational image of a currency dealer counting Rs500 notes. — AFP/File The Pakistani rupee lost ground on Thursday against the US dollar in the interbank market after following the International Monetary Fund’s disapproval of the circular debt management plan. The rupee depreciated by Rs2.52 to settle at Rs271.35 at the close of the…
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Rupee remains stable as IMF talks progress
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[ad_1] People enter a money changer shop in the blue area in Islamabad on January 26, 2023. — Online KARACHI: The Pakistani rupee on Thursday remained stable against the dollar as the market is looking for direction amid the government’s ongoing tough parleys with the International Monetary Fund (IMF). US dollar closed at Rs268.83 in…
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Rupee gains ground, eases slightly from historic low
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[ad_1] Foreign currency dealer selling US dollar bills at a money exchange company in Karachi on January 10, 2023. — INP After falling against the US dollar for three consecutive sessions, the Pakistani rupee reversed the trend on Tuesday. The local unit gained nearly Rs2 against the US dollar to reach Rs267.89 after the developments…
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Rupee down in the dumps as dollar continues to flex muscles
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[ad_1] A dealer counts US dollars at a money exchange market in Karachi on January 26, 2023. — AFP/File The rupee continued its downward slide for the third consecutive day on Monday, losing Rs7.03 to a dollar or 2.61% to close at a new all-time low of Rs269.63 against the greenback in the interbank market.…
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Rupee breaches 270 against USD as downward spiral continues | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency surpassed Rs270 against US dollar for the first time at noon on Monday in the interbank market as the government surrendered its control over the exchange rate to satisfy IMF demands. The currency was freshly devalued by Rs7.50 (or 2.77%) to a new all-time low at Rs270.10 against the US…
