Nepal will restore a one-day weekly holiday this week after experimenting with Saturday-Sunday holidays. Many government and commercial sector offices disobeyed the two-day holiday order. Fuel is Nepal’s most important import, accounting for roughly 16 percent of total merchandise imports in the first ten months of fiscal year 2021. Nepal will restore a one-day weekly … Read more
KARACHI: The rupee fell 23 paisas against the dollar on Thursday, amid fears of further rise in the international oil prices after Russia attacked Ukraine, dealers said. The exchange rate ended at Rs176.39 against the greenback from the previous day’s closing of Rs176.16 in the interbank foreign exchange market. The dealers said the forex market … Read more
KARACHI: The rupee is expected to remain unstable next week, owing to the uncertainty in the international oil prices and a surge in the domestic demand for imported goods, analysts said. The local currency remained dependent on the movement of international oil prices during the outgoing week. It lost 39 paisas against the dollar during … Read more
KARACHI: Textiles, being one of the major components of the Pakistan economy, make up around 8.5 per cent of GDP and contribute around 60 per cent to the country’s total exports. However, the textile sector underperformed during the last few years, owing to the power shortages, high manufacturing costs and the lack of research and … 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 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 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 pharmaceutical imports, including Covid vaccines surged 475 per cent to $3 billion during the first six months of the current fiscal year, compared with $539 million in the same period of the last year, according to the data issued by the Pakistan Bureau of Statistics (PBS). “The government is currently importing Covid-19 vaccines … 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 ended flat against the dollar on Monday, amid high demand for the foreign currency for external payments, dealers said. The rupee ended at Rs176.68 against the dollar from last Friday’s closing of Rs176.67 in the interbank foreign exchange market. The dealers said the dollar demand remained high during the day, as the … Read more
The cement dispatches declined 4.2 per cent in December 2021 to reach 4.59 million tonnes compared with 4.79 million tonnes in December 2020, data by All Pakistan Cement Manufacturers Association (APCMA) showed. Local cement dispatches during December 2021 were 4.057 million tonnes compared with 4.159 million tonnes in December 2020, recording a decline of 2.45 … Read more
ISLAMABAD: The exports of leather gloves during the first five months of the fiscal year 2021/22 grew 11.81 per cent, compared to the exports of the commodity during the corresponding period of the last year. During the period from July-November 2021, leather gloves worth $119,516 were exported, compared with the exports of $106,890 during the … Read more
KARACHI: The dollar recorded a gain of five paisas against the rupee on Wednesday and touched the new high of Rs178.24 in the interbank foreign exchange market, dealers said. A day ago, the exchange rate ended at Rs178.19 against the dollar, which was the previous record high of the greenback. The dealers said the dollar … Read more
KARACHI: The headline inflation for December 2021 is likely to rise up to 12.3 per cent, despite soft food prices, analysts said on Tuesday. The analysts at Insight Securities said that despite soft food prices, the inflation based on the Consumer Price Index (CPI) for December 2021 will arrive at 12.3 per cent on a … Read more
KARACHI: The rupee ended firmer against the dollar on Friday, amid high dollar demand for import and corporate payments, dealers said. The rupee eased by one paisa to Rs178.13 against the dollar from the previous day’s closing of Rs178.12 in the interbank foreign exchange market. The dealers said the demand for the foreign currency was … Read more
KARACHI: The rupee fell slightly against the dollar on Tuesday but made a new historic low of Rs178.05 at the closing of the interbank foreign exchange market, dealers said. The exchange rate witnessed an ease of one paisa in the rupee value against the dollar from the previous day’s closing of Rs178.04, which was also … Read more
KARACHI: Pakistan’s current account deficit has ballooned to $7 billion during the first five months (July-November 2021/22 on sharp growth in import bill during the period, according to the balance of payments data released by the State Bank of Pakistan (SBP) on Monday. The current account posted a surplus of $1.87 billion in the same … Read more
KARACHI: The rupee ended firmer at Rs178.04 against the dollar on Monday, amid higher foreign currency demand for import and corporate payments, dealers said. The rupee ended at Rs178.04, which is the same closing of December 17, 2021, in the interbank foreign exchange market. The present exchange rate is the lowest level of the rupee … Read more
KARACHI: The volatile exchange rate is expected to continue next week, owing to higher dollar demand for import and corporate payments by the year-end. The rupee ended the week with an all-time low of Rs178.04 on December 17, 2021. The local currency lost 33 paisas, or 0.2 per cent, during the week, despite harsh measures … Read more
ISLAMABAD: The exports of textile commodities witnessed an increase of 28.41 per cent during the first five months of the current fiscal year (2021/22), compared with the corresponding period of the last year and went up over 35 per cent on a year-on-year basis, the latest data of the Pakistan Bureau of Statistics (PBS) revealed. … Read more
KARACHI: The rupee fell to a record low of Rs178.04 against the dollar at the interbank foreign exchange market on Friday, dealers said. The demand for the dollars for import and corporate payments remained high during the day, they said. The exchange rate recorded a decline of six paisas against the greenback from the previous … Read more
KARACHI: The rupee witnessed an unabated free-fall for the last several months, as the dollar hit a new record high of Rs177.98 at the closing on the interbank foreign exchange market on Wednesday, amid the monetary tightening announced a day ago. The exchange rate witnessed a decline of 10 paisas in the rupee value against … Read more
KARACHI: The monetary policy announcement scheduled for next week may end the volatility in the rupee value. The State Bank of Pakistan (SBP) is scheduled to announce the monetary policy statement on December 14, 2021. The Monetary Policy Committee will take all the current economic indicators into consideration, while making the decision. One of the … Read more
KARACHI: The dollar rebounded and gained 91 paisas to close at Rs174.67 on Thursday in the interbank foreign exchange market, dealers said. The foreign currency breaks the three-day gaining streak of the rupee after a statement issued by the adviser to the prime minister on finance regarding the International Monetary Fund (IMF) conditions to continue … Read more
KARACHI: The current account of the country posted a surplus of $153 million during the 11 months (July-May) of the current fiscal year, compared with a deficit of $4.33 billion in the corresponding months of the last fiscal year, according to official data released by the central bank on Friday. The balance of payment showed … Read more
The services trade deficit of Pakistan has contracted by 42.41 percent during the first half of the current fiscal year (2020-21). According to the latest data by the Pakistan Bureau of Statistics (PBS) as compared to the corresponding period of the last fiscal year, services trade deficit of the country contracted by 42.41 percent. The … Read more
