Zimbabwe’s central bank to sell gold coins as a form of reserve money. The coins will be sold starting on July 25 in local currency and other foreign currencies. Annual inflation reached 192 percent in June, according to the latest official figures. Zimbabwe’s central bank said that it would begin selling gold coins this month … Read more
Many Bank of Japan policymakers saw stronger wage growth as key to sustaining the bank’s 2% inflation goal. One board member said sharp yen falls could hurt the economy. The BOJ stuck to its ultra-low interest rate policy and vowed to defend its cap on the 10-year bond yield. Many Bank of Japan (BOJ) policymakers … Read more
Shares in the biggest U.S. banks rallied on Friday after they passed the Federal Reserve’s annual health check. Results implied a big variation in the size of banks’ stress capital buffers. Bank of America underperformed with test results implying it needs a larger-than-expected buffer. Shares in the greatest U.S. banks revitalized on Friday after they … Read more
Rupee weakens for the straight ninth day. The market was expecting Rupee to get stronger. The current account deficit skyrocketed to $13.78 billion KARACHI: The rupee fell for the ninth straight day against the dollar on Wednesday, as the foreign currency reached another high of Rs211.93 in the interbank market, dealers said. The exchange rate … Read more
The yen fell as much as 1.9% and bond yields fell after the decision by the Bank of Japan. The decision was widely expected but disappointed some market players who speculated the BOJ could give in to market forces and tinker with its yield cap policy. The Bank of Japan BOJ kept up with super … Read more
KARACHI: The Pakistani rupee touched the historic low of Rs207.67 against the dollar on Thursday on the back of stalled International Monetary Fund (IMF) programme besides depleting foreign exchange reserves of the country. The local unit shed Rs1.21 to close at Rs207.67 to the dollar from Wednesday’s closing of Rs206.46 in the interbank foreign exchange … Read more
Central banks in the United States, eurozone and UK are raising interest rates. The US Federal Reserve announced the most aggressive interest rate increase in nearly 30 years. Higher rates affect the cost of borrowing for banks, which then pass those costs onto businesses. In order to curb inflation, central banks in the United States, … Read more
KARACHI: The Pakistani rupee plunged to the historic low of Rs205.16 against the dollar on Tuesday amid uncertainty regarding the International Monetary Fund (IMF) programme besides depleting foreign exchange reserves of the country. The local unit shed Rs1.31 to close at Rs205.16 to the dollar from Monday’s closing of Rs203.85 in the interbank foreign exchange … Read more
The global cryptocurrency market peaked in November 2021 at $2.9 trillion. In the previous two months, it has lost $1 trillion in value. Bitcoin was down more than 10% on Monday to an 18-month low of $23,750. Ether, a smaller coin, plummeted almost 15% to $1,210. According to data portal CoinMarketCap, the value of the … Read more
The yen has been weighed down by rising interest rates around the world. It is nearing the 135.20 per dollar mark, which would be its lowest since 2002. The euro was little changed at $1.07130 on Thursday, having moved very little this week. The yen dropped to a 20-year low on the dollar on Thursday, … Read more
10-year Treasury yield hit 3.0580% early in the Asia session. The dollar added another 0.6% against the yen to touch 132.75. Ten-year gilt yields rose as far as 10.2 bps to a seven-year high of 2.256%. Asia’s bonds edged lower on Tuesday, the yen hit a 20-year low and security markets faltered as financial backers … Read more
The dollar climbed to 130.99 yen in early trade, a fresh one-month high. It is not far from last month’s 20-year peak of 131.34 yen after gaining 2.95% last week. The euro has also climbed on the Japanese currency and hit a seven-year high. The Japanese yen was on the back foot on Monday, in … Read more
Russia’s decision to stop supplying Gazprom Germania with gas could cost Germany up to $5.4 billion a year in lost revenue, the report says. Gazprom stopped supplying the company in May after Berlin put it under trustee management due to Russia’s invasion of Ukraine. Russia’s approvals against Gazprom Germania and its auxiliaries could cost German … Read more
KARACHI: The buying rate of 1 TRY to PKR is Rs 12.01 and the selling rate of 1 TRY to PKR is Rs 11.89 in the interbank market on June 04, 2022. Meanwhile, the following are the rates of the US Dollar, Saudi Riyal, UAE Dirham, UK Pound, and other foreign currencies in the interbank … Read more
Croatia has met all of the criteria for joining the eurozone. The adoption of the euro comes less than a decade after joining the EU. Croatian Prime Minister Andrej Plenkovic expresses confidence his country will join the euro. Croatia has met all of the criteria for joining the eurozone, according to the European Commission, paving … Read more
KARACHI: The Pakistani rupee gained 59 paisas to reach Rs197.87 on Wednesday as the investors expect the government’s negotiations with the International Monetary Fund (IMF) to complete successfully. The local unit recorded an increase of 59 paisas to close at Rs197.87 to the dollar from Tuesday’s closing of Rs198.46 in the interbank foreign exchange market. … Read more
State Bank of Pakistan (SBP) on Friday coordinated all booked banks as well as miniature money banks to submit information of every computerized misrepresentation and tricks on month to month premise while domain of detailing is likewise extended from counterfeit calls by fraudsters to other advanced channels including versatile application, E-Commerce Transactions, ATMs and POS. … Read more
Russia’s vital financial institution cut its key interest price Thursday following an emergency meeting, as the government is looking to rein in the ruble which has surged in cost despite the war in Ukraine. The Bank of Russia slashed the rate to eleven percent from 14 percent, pronouncing external situations for the financial system to … Read more
He internationally perceived fragrance based treatment and natural balm business doTERRA praised the great opening of its new office Saturday on Oahu. The 7,500 square-foot working in Waipahu permits doTERRA to get activities house, while making new positions and an assigned space for clients to stroll in and get their orders. Beforehand, the organization satisfied … Read more
The ongoing record shortfall shrank 38.6 percent on a month-on-month premise to $623 million in April, information delivered by the State Bank of Pakistan (SBP) displayed on Friday. The broadening current record shortage has been one of the greatest financial issues all through this monetary year. In spite of a month to month dunk kept … Read more
Rishi Sunak has promised to reduce government expenditures for business in his harvest time financial plan, as the Treasury keeps on weighing up mediations to handle the typical cost for most everyday items. With MPs from across the Tory party asking him to make a crisis move to assist battling families after expansion with hitting … Read more
Nuula, a fintech organization zeroed in on giving private ventures the apparatuses and the capital they need to succeed, today reported a drive to assist entrepreneurs with further developing their in general mental and actual prosperity. In association with Walnut, Nuula’s new wellbeing highlight gives entrepreneurs admittance to extra security, in addition to contemplation programs … Read more
The rupee on Friday acquired against the US dollar in early exchange subsequent to contacting a record low versus the American money on Thursday. The securities exchange benchmark lists Sensex and Nifty rose today. The forex market too followed the offer market as India’s rupee bounced back 17 paise to 77.33 on Friday morning. The … Read more
The United Kingdom’s fish-and-chip shops are under serious strain as the costs of key fixings — including cod and cooking oil — take off because of the Russian attack on Ukraine. Upwards of 33% of the country’s approximately 10,000 fish-and-chip cafés could shut in the following nine months, said Andrew Crook, leader of the National … Read more
The International Monetary Fund has lifted the burden of China’s yuan and American greenback within the organization’s worldwide basket of reserve currencies at the same time as decreasing the percentage of the euro, yen, and British pound. The IMF raised the weighting of the yuan, also referred to as the renminbi, to twelve.28 percent from … Read more
The Chinese yuan is quickly depreciating as the world’s second-largest economy struggles under the weight of Covid regulations. Concerns over escalating lockdowns in key cities, as well as Beijing’s tight links with Moscow in the aftermath of Russia’s invasion of Ukraine, have driven investors out of China since the beginning of the year. The linkages … Read more
Karachi: Latest Currency Rates in Pakistan today on 12 May 2022, Check updated currency rates of British Pound, US Dollar to PKR, Euro, Canadian Dollar, UAE Dirham, Saudi Riyal, in Rupees. All currency exchange rates are according to the interbank market. Currency rates in Pakistan Find the updated currency exchange rates on, 13 May 2022. US Dollar … Read more
A cryptocurrency whose cost is supposed to be pegged to the dollar has misplaced half of its price this week, sparking panic in the already febrile international of crypto property. Terra UST, which is supposed to track at kind of $1 per coin, at one level changed into buying and selling at 30 cents on Wednesday earlier than … Read more
