Tribune
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Gold now over Rs200,000 a tola | The Express Tribune
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[ad_1] KARACHI: The price of gold surpassed Rs200,000 per tola (11.66 grams) for the first time in the history of Pakistan after the rupee witnessed a freefall against the US dollar on Friday. The jump in bullion price, however, made jewellers unhappy, as genuine buyers have quit the market and gamblers have jumped in. Speaking…
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Gold breaks all records, crosses Rs200,000 per tola mark | The Express Tribune
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[ad_1] Amid freefall of the Pakistani rupee and reports of revival of stalled talks with the International Monetary Fund (IMF), gold continued to steal the limelight in the local markets, with prices hitting a record high of Rs Rs202,500 per tola on Friday evening. The prices of per tola and per 10 grams of gold…
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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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IMF team to visit Pakistan from Jan 31 | The Express Tribune
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[ad_1] An International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth review of the country’s current funding programme, the lender’s resident representative said on Thursday. “At the request of the authorities, an in-person Fund mission is scheduled to visit Islamabad January 31st – February 9th to continue the discussions…
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PKR plummets to 240 against USD after govt ends exchange control | The Express Tribune
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[ad_1] KARACHI: Pakistani currency nosedived by Rs24.11 (or 9.45%) to an all-time low at Rs255 against the US dollar in the interbank market at around 1 pm on Thursday. The latest fall comes as the government ended its control over the rupee-dollar exchange rate as part of the International Monetary Fund (IMF) condition. The local…
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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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MPs to get Rs90b amid economic morass | The Express Tribune
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[ad_1] ISLAMABAD: Amid the National Austerity Committee’s recommendation to review the practice of dolling out billions of rupees to parliamentarians, the government decided to further increase the discretionary spending budget to a whopping Rs90 billion. As the country is also at the risk of default, the National Austerity Committee recommended slashing the federal cabinet to…
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Cap on currency value to be removed | The Express Tribune
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[ad_1] KARACHI: Currency dealers have unanimously decided to stop keeping the rupee overvalued artificially against the US dollar at the open market and have said they will let the rupee-dollar exchange depreciate to its actual value with effect from Wednesday. Speculations suggest that the rupee in the open market could rapidly devalue to the level…
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Currency dealers remove cap on dollar-rupee exchange rate | The Express Tribune
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[ad_1] KARACHI: The currency dealers have unanimously decided to stop artificially keeping rupee overvalued against US dollar in open market and let the rupee-dollar exchange rate depreciate to its actual value. Speculations suggest rupee could gradually devalue to the level of black currency market in a couple of days. The domestic currency was available at…
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OGRA denies reports of petrol shortage in country | The Express Tribune
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[ad_1] ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Tuesday strongly refuted reports of petrol and diesel shortage in the country, saying that there is sufficient stock. According to OGRA spokesman Imran Ghaznavi, the country has enough reserves available to meet 17 days of petrol and 32 days of diesel demand. Ghaznavi said that ships…
