KARACHI: The caretaker government has agreed to hold talks with petroleum dealers on profit margins after they threatened a nationwide strike and warned to close down pumps. Caretaker Federal Minister for Petroleum (Power Division) will reach Karachi on Friday. He will hold talks with a delegation of the Pakistan Petroleum Dealers Association (PPDA) at the … Read more
Musadik Malik has made conditions to increase margin of petroleum dealers. The final report of dealers’ margins will be released on June 23. The dealers delayed a protest to close their petrol pumps. ISLAMABAD: Minister of State for Petroleum Musadik Malik has made increasing margin of petroleum dealers subject to several conditions for their acceptance … Read more
KARACHI: The Pakistani rupee declined 41 paisas, as the dollar crossed Rs177 at midday in the interbank exchange market on Thursday. The greenback is being traded at Rs177.15 in the midday trading at the interbank exchange. The exchange market closed at Rs176.74 on Wednesday, January 5, 2022. The local currency witnessed a decline in the … Read more
KARACHI: Pakistani rupee recovered 4 paisas against the dollar in early trade at the interbank foreign exchange market on Wednesday. The dollar is being traded at the historic high of Rs178.15 at the opening of the interbank market. The exchange rate ended as the local currency hit a historic low of Rs178.19 on Tuesday December … 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 depreciating rupee, rising deficits and anticipation of sharp jump in interest rates dragged the Pakistan stocks down 2 per cent during the week ended December 3, 2021, dealers said. However, with the ease in the global commodities improving Pakistan’s macro-outlook, the International Monetary Fund (IMF)-related uncertainty largely behind and the MSCI-related rebalancing, the … Read more
KARACHI: Large import bill and a significant decline in the foreign exchange reserves may further destabilise the rupee next week, dealers said. The higher import bill and a decline in the forex reserves have deteriorated the value of the local unit to the historic low of Rs176.77 against the dollar on December 3, 2021. The … Read more
KARACHI: The rupee gained 46 paisas against the dollar on Monday, amid a highly volatile trading session, dealers said. The exchange rate ended at Rs174.77 against the dollar, compared with Rs175.23 in the interbank foreign exchange market. The dealers said the market opened with a sharp rise in the rupee value; following the monetary policy … Read more
KARACHI: The rupee continued declining trend against the dollar for the third consecutive day on Wednesday, as it depreciated to Rs172.93 in the interbank foreign exchange market, dealers said. The exchange rate witnessed a drop of Rs1.30 in its value against the dollar from the previous day’s closing of Rs171.63 in the interbank foreign exchange … Read more
KARACHI: The Pakistan stocks continued the bullish run, closing the week with a gain of 1.1 per cent, as easing political tensions and rallying global equities lifted the market sentiment, dealers said. Ahsan Mehanti at Arif Habib Corporation said that the bullish activity continued on surging global equities and Brent crude oil prices to over … Read more
KARACHI: The Pakistan stock market took a negative turn on Monday, primarily due to the selloff in technology stocks, dealers said. Institutional investors were on the selling side, partly due to the redemptions and otherwise due to the concerns on the rising current account deficit and inflation on the back of possible tariff hike. Muhammad … Read more
KARACHI: The rupee fell to a nine-month low of 161.48 against the dollar on Monday, owing to higher demand for import payments, amid the upcoming Eid holidays. Previously, the exchange rate was seen at Rs161.37 to the dollar on October 23, 2020. The local currency fell Rs1.54 to the dollar from last Friday’s closing of … Read more
KARACHI: The rupee recovered 48 paisas against the dollar on Tuesday, owing to inflows of foreign receipts, dealers said. The exchange rate ended at Rs157.74 against the greenback, compared with the previous day’s closing of Rs158.22 in the interbank foreign exchange market. The dealers said the market witnessed sufficient supply of the dollars during the … Read more
KARACHI: The rupee lost 69 paisas against the dollar due to higher demand for import payments, dealers said on Monday. The exchange rate ended at Rs155.31 to the dollar from the last Friday’s closing of Rs154.62 in the interbank foreign exchange market. The dealers said the high international oil prices also impacted the exchange rate. … Read more
