KARACHI: The free fall in the rupee value against the dollar continued on Wednesday, as the local unit fell to the new historic low of Rs179.44 in interbank foreign exchange market. The rupee lost 22 paisas against the dollar to end at Rs179.44, compared with the previous day’s closing of Rs179.22 in the interbank market. … Read more
KARACHI: The rupee continued to make historic lows against the dollar, as it fell to Rs179.22 on Tuesday, owing to import payments and political uncertainty, dealers said. The exchange rate ended at Rs179.22 against the greenback from the last day’s closing of Rs178.98, the previous all-time low, in the interbank foreign exchange market. The dealers said … Read more
KARACHI: The rupee fell 47 paisas to record low at Rs178.98 to the dollar on Monday owing to higher import payments. The exchange rate ended at Rs178.98 to the dollar from last Friday’s closing of Rs178.51 in the interbank foreign exchange market. The dealers said that the political uncertainty and dollar demand for Ramzan related … Read more
KARACHI: The rupee recovered 12 paisas against the dollar on Friday owing to an ease in oil prices in the international markets. The exchange rate ended at Rs178.51 to the dollar from the previous day’s closing of Rs178.63 in the interbank foreign exchange market. The local currency recovered to the current level from the record … Read more
KARACHI: The rupee declined 2 paisas to the dollar on Wednesday to the record low of Rs178.63 as the global oil prices remained high amid the Russia-Ukraine war coupled with the rising domestic demand for Ramazan. The exchange rate ended at Rs178.63 dollar from the previous day’s closing of Rs178.61 in the interbank foreign exchange … Read more
KARACHI: The rupee is likely to remain unstable next week due to high volatile international oil prices and country’s external sector weaknesses. The rupee lost 39 paisas against the dollar during the week (February 28-March 4). The benchmark Brent crude topped $120/barrel during the ongoing week but retreated to $111/barrel on Friday. The reports of … Read more
KARACHI: The rupee lost 21 paisas against the dollar on Wednesday, as international oil prices spiked at $113/barrel, dealers said. The exchange rate ended at Rs177.62 against the greenback, compared with the previous day’s closing of Rs177.41. The international oil prices recorded a massive jump; following Russian supply concerns after war with Ukraine. The benchmark … Read more
KARACHI: The rupee recovered six paisas against the dollar on Tuesday owing to ease in the foreign currency demand for external payments. The exchange rate ended at Rs177.41 to the dollar from the previous day’s closing of Rs177.47 in the interbank foreign exchange market. The dealers said that the market witnessed ease in the dollar … Read more
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
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 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 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: 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 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
LAHORE: Volatile exchange rate and illicit trade are major challenges for legal businesses both in the manufacturing, as well as trade/import sector, said Awais Saeed Piracha, chief executive officer of Trinity Enterprises, a major importer of variety of tyres from two- to four-wheelers to trucks, buses and industrial and agricultural machinery. “We give 80 to … Read more
ANKARA: The Turkish government on Thursday changed the regulation for foreigners to acquire Turkish citizenship in a bid to support its Turkish lira, according to a decree issued in the Turkish official gazette. Foreigners who make a certain investment in the country, buy real estate or make a fixed capital investment could get Turkish citizenship, … 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: The rupee made a sharp recovery against the dollar to close the year at Rs176.51 on Friday in the interbank foreign exchange market, dealers said. The exchange rate witnessed an appreciation of Re1 in the local unit against the dollar from the previous day’s closing of Rs177.51. The rupee cumulatively recovered Rs1.73 against the … Read more
KARACHI: Pakistani rupee recovered 51 paisas against the dollar in early trade at the interbank foreign exchange market on Friday. The dollar is being traded at the historic high of Rs177 at the opening of the interbank market. The exchange rate was ended local currency was trading at Rs177.51 on Thursday. Rupee recorded the all-time … 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: 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 free-fall in the rupee value continued on Tuesday, as the dollar hit a new record high of Rs178.19 at the closing of the interbank foreign exchange market, dealers said. The exchange rate witnessed a decline of two paisas against the dollar from the previous day’s closing of Rs178.17 in the interbank. The last … Read more
Pakistan’s textile exports witnessed an increase of 8 per cent month-on-month to reach a record high of $1.74 billion in November, a report by Topline Securities showed. During the month of November, the value added textile exports recorded a growth of 7 per cent month-on-month as the exports of ready-made garments recorded an increase of … Read more
KARACHI: The rupee recovered three paisas from it’s all-time low against the dollar on Thursday on tightening of foreign exchange buying in the open market, dealers said. The rupee ended at Rs178.12 against the greenback from the previous day’s closing of Rs178.15 in the interbank foreign exchange market. The rupee recorded the all-time low of … Read more
KARACHI: The dollar recorded a new high of Rs178.15 on Wednesday, amid higher year-end dollar demand for import and corporate payments, dealers said. The exchange rate witnessed a 10 paisas decline in the rupee value against the dollar from yesterday’s closing of Rs178.05, the previous historic low of the rupee, in the interbank foreign exchange … 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
KABUL: Afghanistan’s Finance Ministry under the new Taliban government has prepared a draft national budget that, for the first time in two decades, is funded without foreign aid, a spokesman said. It comes as the country is mired in economic crisis and faces a looming humanitarian catastrophe the United Nations has called an “avalanche of hunger”. … Read more
