Rupee
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Gold tops Rs200,000 per tola as rupee extends rout
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[ad_1] A representational image of gold jewellery. — AFP/File The price of gold in Pakistan Friday marched past the major psychological threshold of Rs200,000 per tola for the first time, the dealers said, pinning the upsurge on the rupee free fall that ensued after money changers gave up on a self-imposed cap on the exchange…
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Rupee keeps ‘pedal to metal’, tumbles over Rs7 against dollar
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[ad_1] A dealer holds US dollars at a money exchange market in Karachi on January 26, 2023. — AFP The Pakistani rupee kept ‘pedal to the metal’ losing over Rs7, or 2.73%, value against the US dollar as forex companies removed a cap on the exchange rate to win much-needed loans from the International Monetary Fund…
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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 reaches all-time low in interbank
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[ad_1] A money exchange employee counts dollars. — AFP/File KARACHI: The rupee posted its biggest single-day decline against the dollar in more than two decades, after rapidly depleting foreign exchange reserves and an unyielding International Monetary Fund (IMF) forced the government to relax its grip on the currency. Following the government’s decision to end its…
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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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Rupee falls to all time low of 252 against USD | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee fell by 5.75% (or Rs14.5) to an all-time low of Rs252.5 against the US dollar in the open market at 11 am on Wednesday. The slump in the rupee helped the Pakistan Stock Exchange (PSX) jump by 1.87% (or 730 points) to 39,785 points at 11:39 am. The rupee plunged…
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Rupee continues to lose strength | The Express Tribune
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[ad_1] KARACHI: The rupee continued to depreciate slightly ahead of the revival of the International Monetary Fund’s (IMF) loan programme. It dropped by 0.23%, or Rs0.52, to a three- and-half-month new low at Rs229.67 against the US dollar in the interbank market on Friday. In the past five weeks, the rupee has dropped value consecutively…
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Rupee touches new 3-month low | The Express Tribune
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[ad_1] KARACHI: Pakistani currency registered another downtick of Rs0.05 to touch a new three-month low of Rs227.93 against the US dollar in the inter-bank market on Wednesday amid conflicting reports about the revival of International Monetary Fund (IMF) loan programme. The currency fell sharply by Re1 in the open market and reached Rs238 against the…
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Rupee downfall: Pakistani currency endured historic lows in 2022 | The Express Tribune
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[ad_1] ISLAMABAD: As the bells for another new year are tolling, the country’s crippled economy will be hobbling into 2023 with a humiliating record of the downward spiral of rupees vis-à-vis the US dollar. With the government struggling with high import payments, depleting foreign exchange reserves and political uncertainty, the overall value of the Pakistani…
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Rupee bears the brunt of political clamour | The Express Tribune
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[ad_1] KARACHI: The ongoing political drama is putting too much pressure on the Pakistani rupee against the US dollar, while the smuggling of dollars to Afghanistan and the Russia- Ukraine conflict have added to the currency’s woes. Addressing a press conference on Monday, Exchange Companies Association of Pakistan (ECAP) President Malik Bostan said, “Pakistani politicians’…
