KARACHI: The rupee declined 31 paisas against the dollar on Tuesday, as international oil prices recorded a further rise, dealers said. The exchange rate ended at Rs175.78 against the greenback, compared with the previous day’s closing of Rs175.47 in the interbank foreign exchange market. The dealers said the upsurge in the international oil prices put … Read more
KARACHI: The rupee fell 76 paisas against the dollar on Monday, owing to a jump in the global oil prices and rising foreign currency demand for import payments, dealers said. The exchange rate ended at Rs175.47 against the dollar from Friday’s closing at Rs174.71 in the interbank foreign exchange market. The dealers said high oil … Read more
KARACHI: The movement of international oil prices will decide the fate of the rupee during the next week. Currently, the rupee is stable, owing to the inflows received from a lending agency and the proceeds of the Sukuk bond. The exchange rate for the week ended February 11, 2021 closed at Rs174.71 against the greenback … Read more
Economic hooliganism is commonly perceived to have adverse effects on the country. Pakistan is not less than any other state, as here too, the ministers and their opponents always give statements substantiated with several research reports of their choice and official statistics. The latest figures released by the Ministry of Finance suggests the economic recovery … Read more
KARACHI: The local dealers, importers and mobile phone mechanics are suffering huge losses owing to the rising costs of imported mobile parts, rupee depreciation and the absence of domestic part manufacturers. As countries around the world strive for advancement and manufacturing in the field of technology and IT; self-sufficiency and becoming a manufacturing base remain … Read more
LAHORE: Volatile exchange rates, higher markup and the weakening rupee are the key hurdles in tapping the full potential of the Rs20 trillion packaging industry, said Zaki Aijaz Qureshi, director of Roshan Packages Limited. “The manufacturing sector mostly relies on imported raw material and the packaging industry is no exception. Plastic, paper and tinplate packaging … Read more
KARACHI: The rupee gained 16 paisas against the dollar on Friday, amid demand for the foreign currency for import payments, dealers said. The exchange rate ended at Rs174.71 against the greenback from the previous day’s closing of Rs174.87 in the interbank foreign exchange market. The dealers said the rupee gained due to a fall in … Read more
KARACHI: The rupee gained two paisas against the dollar on Thursday on easing international oil prices, dealers said. The exchange rate ended at Rs174.87 to the dollar from the previous day’s closing of Rs174.89 in the interbank foreign exchange market. The dealers said that the local currency slightly recovered after the international oil prices showed … Read more
KARACHI: The MCB Bank net profit showed a growth of 6 per cent to Rs31.1 billion for the year 2021, compared with the earnings of Rs29.56 in the preceding year, a bourse filing said. Analysts at Arif Habib Limited said that the earnings increased on a year-on-year basis on the back of reversals in provisioning … Read more
KARACHI: The rupee gained three paisas against the dollar on Tuesday, amid a surge in dollar demand for import payments. The exchange rate ended at Rs174.50 to the dollar from the previous day’s closing of Rs174.47 in the interbank foreign exchange market. The dealers said that the dollar demand had climbed up due to the … Read more
KARACHI: The rupee ended firmer against the dollar on Monday, amid foreign currency demand for import payments, dealers said. The exchange rate ended at Rs174.47 against the greenback from last Friday’s closing of Rs174.48 in the interbank foreign exchange market. The dealers said the market witnessed dollar demand for import payments, as the market opened … Read more
KARACHI: The rupee is expected to maintain the upward trend next week, owing to the positive sentiments and flows of the external receipts. The local currency may get support from the transfer of the International Monetary Fund (IMF) tranche and other external payments, besides ease in the demand for import payments. The exchange rate for … Read more
KARACHI: The Pakistan bourse gained 1.8 per cent for the week ended January 4, 2022, as investors took positions on financial results speculations and strong rupee recovery; following the approval of $1 billion tranche by the International Monetary Fund (IMF), dealers said, adding that the market would perform well, going forward. The Pakistan Stock Exchange … Read more
KARACHI: The rupee continued its sharp recovery against the dollar and made a gain of Rs1.04 on Friday. The exchange rate ended at Rs174.48 against the greenback from the previous day’s closing of Rs175.52 in the interbank foreign exchange market. The rupee maintained gaining momentum for the last eight consecutive days since reaching Rs176.98 on … Read more
KARACHI: The Pakistani rupee made a recovery of 89 paisas against the dollar on Thursday after the International Monetary Fund (IMF) board approved the disbursement of over $1 billion for Pakistan. The exchange rate ended Rs175.52 to the dollar from the previous day’s closing of Rs176.41 in the interbank foreign exchange market. The dealers said … Read more
KARACHI: The rupee made a slight gain of two paisas against the dollar on Wednesday amid high foreign currency demand for import payments. The exchange rate ended at Rs176.41 to the dollar from the previous day’s closing of Rs176.43 in the interbank foreign exchange market. The dealers said that the market had seen dollar demand … Read more
KARACHI: The rupee gained 29 paisas against the dollar on Tuesday owing to external inflows related to Sukuks, dealers said. The exchange rate ended at Rs176.43 to the dollar from the previous day’s closing of Rs176.72 in the interbank foreign exchange market. The dealers said that the market witnessed recovery in the local currency owing … Read more
KARACHI: The rupee recovered five paisas against the dollar on Monday on the expectations of release of the next International Monetary Fund (IMF) tranche, dealers said. The exchange rate ended at Rs176.72 against the dollar from last Friday’s closing of Rs176.77 in the interbank foreign exchange market. The Executive Board of the IMF is scheduled … Read more
KARACHI: The surging global crude oil prices are likely to keep the rupee under pressure despite the measure taken by the State Bank of Pakistan (SBP) to provide support to the local currency. The hike in international oil prices coupled with the declining forex reserves of the country kept the rupee under pressure during the … Read more
KARACHI: High dollar demand for external payments, depleting foreign exchange reserves and the rising oil prices in the international market are likely to keep the Pakistani rupee under pressure, experts said. However, they brushed off speculation that the rupee may fall to 200 against the dollar. “The Federal Board of Revenue (FBR) had issued notices … Read more
KARACHI: The exchange rate ended unchanged on Thursday, as the dollar was being traded at Rs176.98, which was the previous day’s closing at the interbank foreign exchange market, dealers said. The market witnessed high dollar demand for import and corporate payments; however, the banks provided sufficient dollars against the demand to keep the rupee value … Read more
KARACHI: The Pakistani rupee continued its fall for the third straight day against the dollar as the global crude oil prices rose. The rupee declined 26 paisas to end at Rs176.98 against the dollar on Wednesday, against the closing of Rs176.72 on Tuesday in the interbank foreign exchange market. The dealers said that the dollar … Read more
KARACHI: The Pakistani rupee declined 25 paisas against the dollar on Monday, amid high demand for the foreign currency for external payments, dealers said. The rupee ended at Rs176.49 against the dollar from last Friday’s closing of Rs176.24 in the interbank foreign exchange market. The dealers said the dollar demand remained high during the day … Read more
KARACHI: The rupee is expected to remain stable next week on the back of the measures introduced by the central bank to ensure realisation of export receipts within 120 days. The State Bank of Pakistan on January 5, 2022 directed the exporters to realise their export receipts within 120 days from the date of shipment … Read more
KARACHI: The rupee fell for the third straight day against the dollar on Thursday, owing to a surge in the international oil prices. The exchange rate ended at Rs176.49 to the dollar from the previous day’s closing of Rs176.22 in the interbank foreign exchange market. The local unit recorded a decline of 57 paisas or … Read more
KARACHI: The rupee fell by 26 paisas against the dollar on Tuesday owing to a surge in the international oil prices. The rupee ended at Rs176.18 to the dollar, as compared with the previous day’s closing of Rs175.92 in the interbank foreign exchange market. The dealers said that the market witnessed panic buying for dollars … Read more
KARACHI: The rupee gained 15 paisas against the dollar on Monday, as holiday in the US markets lowered the foreign currency demand in the domestic market, dealers said. The interbank foreign exchange market ended at Rs175.92 against the dollar from last Friday’s closing of Rs176.07. The dealers said the US markets were observing the holiday … Read more
KARACHI: Import restrictions introduced through the Finance Supplementary Bill is expected to help the rupee remain stable next week. However, a surge in the international oil prices may prove otherwise. The National Assembly on January 13, 2022 approved the Finance (Supplementary) Bill, 2021. Through the legislation, the government withdrew exemptions and concessions worth Rs343 billion. … Read more
