US dollar back to Rs310 level in open market
KARACHI: The Pakistani rupee on Monday changed course in the open market after appreciating sharply towards the end of last week, depreciating 1.6 percent against the US dollar and was traded at rates in the range of 305-310. The PKR
PKR down 0.11% to close at 285.68 against dollar
KARACHI: The Pakistani rupee on Friday registered marginal losses against the US dollar, depreciating 0.11% in the interbank market, however, the US dollar regained some of its lost ground against the Pakistani rupee in the open market, as the shortage
Is Pakistan launching its own cryptocurrency?
The central bank of Pakistan is making progress in the field of digital banking and plans to launch a digital currency that is comparable to cryptocurrencies like Bitcoin soon. According to Shoukat Bizinjo, Additional Director of the Digital Financial Services
SBP-held foreign reserves fall another $102mn to $4.09bn
KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell to $4.09 billion after external debt repayment of $102 million, data released on Thursday showed. The overall number still stands at a critical level at around a
PKR registers marginal gain to close at Rs285.38 against dollar in interbank
KARACHI: The Pakistani rupee on Thursday registered marginal gain against the US dollar, appreciating 0.03% in the interbank market. At close, the currency settled at 285.38, an increase of Rs0.09, as per the State Bank of Pakistan (SBP). Interbank
USD to PKR: Pakistani rupee recovers against US dollar
KARACHI: The US dollar has witnessed a massive loss against the Pakistani rupee in the open market as the dollar has decreased by Rs 27 in the interbank market. According to the details, the price of the US dollar decreased
Card-based transactions: SBP allows authorized dealers to purchase dollars from Interbank
KARACHI: The State Bank of Pakistan (SBP) has given permission to authorized foreign exchange dealers to buy US dollars on the interbank market for the purpose of settling card-based cross-border transactions with global payment systems like Visa and MasterCard. The
PKR registers marginal loss, closes at Rs285.47 against dollar
KARACHI: The Pakistani rupee on Wednesday recorded marginal losses against the US dollar, depreciating 0.04% in the interbank. At close, the currency settled at 285.47, a decline of Rs0.12, as per the State Bank of Pakistan (SBP). Interbank closing
PKR remains stable, closes at Rs285.35 against US dollar
KARACHI: The Pakistani rupee on Tuesday registered a marginal gain against the US dollar, appreciating 0.02% in the interbank, however the local currency was being traded at Rs314 in the open market. At close, the currency settled at 285.35, an
Only way to save country from default is to approach IMF: Miftah Ismail
KARACHI: Former Finance Minister Miftah Ismail has said that the only way to save the country from default is to approach the IMF. According to the details, Miftah Ismail said during a conversation on a private TV program that the
US dollar hits record level of Rs316 in open market
KARACHI: The Pakistani rupee on Monday registered minor gain against the US dollar, appreciating 0.1% in the interbank, however in the open market the US dollar was being traded in the range of Rs312 to 316. At close, the currency
Ishaq Dar to share details of budget for IMF program’s revival
ISLAMABAD: Federal Finance Minister Ishaq Dar has said that Pakistan will share the details of the upcoming budget with the International Monetary Fund to restore the IMF program. According to the details, speaking during a private TV program, Ishaq Dar
SBP-held forex reserves drop to $4.2 billion
KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves fell by $119 million as of May 19 and stood at just under $4.2 billion, data released on Thursday showed. The overall number still stands at a critical level at
PKR appreciates Rs1.39 to close at 285.74 against dollar
KARACHI: The Pakistani rupee on Thursday recorded a significant gain against the US dollar, gaining Rs1.39 in the interbank. At close, the currency settled at 285.74, a gain of Rs1.39, as per the State Bank of Pakistan (SBP). Interbank
Rupee sheds 73 paisas against Dollar in interbank
ISLAMABAD: Pakistani rupee witnessed 73 paisas devaluation against US Dollar (USD) in the interbank trading on Monday and closed at Rs 286.55 against the previous day’s closing of Rs 285.82. According to the Forex Association of Pakistan (FAP), the buying
Political confrontation to further weaken Pakistani rupee: Bloomberg
KARACHI: Bloomberg, an American magazine that monitors economic affairs, has said that if the political confrontation between the government and Imran Khan continues like this, the Pakistani rupee will fall further, which will cause further inflation in the country. Bloomberg
Rupee sheds 20 paisas against US dollar in interbank
The US dollar appreciated by 20 paisas in the interbank market on Friday, halting the earlier marginal gain of the rupee at the start of the day. According to the State Bank of Pakistan, the local currency went down by
SBP releases a report on domestic foreign exchange reserves
ISLAMABAD: State Bank of Pakistan has released the data on domestic foreign exchange reserves. According to the data released by the State Bank, due to the payment of foreign loans, the volume of official foreign exchange reserves decreased by $7.2
SBP’s reserves will fall below $2 billion by September: Miftah Ismail
ISLAMABAD: Former Finance Minister Miftah Ismail has predicted that foreign exchange reserves will be less than $2 billion by September this year. According to the details, while addressing the business community at the German Embassy, the former finance minister said
Rupee sheds 44 paisas against Dollar in interbank
ISLAMABAD: Pakistani rupee witnessed 44 paisas devaluation against US Dollar (USD) in the interbank trading on Wednesday and closed at Rs 285.40 against the previous day’s closing of Rs 284.96. According to the Forex Association of Pakistan (FAP), the buying
Digital payments slump nearly 50% amid internet shutdown
KARACHI: Point-of-sale (POS) transactions routed through main digital payment systems fell by around 50 per cent the day after former Prime Minister Imran Khan’s arrest ignited countrywide protests and prompted authorities to shut down mobile internet services, data showed on
PKR registers massive gain of Rs13.85, closes at 285 against dollar
KARACHI: The Pakistani rupee made a stunning comeback against the US dollar on Friday, registering a significant gain of nearly Rs14 in the interbank market after reaching a record low on Thursday. At close, the rupee finished with an increase
Intra-day update: PKR nosedives to all-time low of 299 against dollar
Investors were concerned about the country’s deteriorating political scenario as the Pakistani rupee plunged to a record low of 299 against the US dollar in the early hours of trading on Thursday. At around 1:17pm, the Pakistani currency fell Rs8.78,
Remittances down 13%, clock in at $2.2bn in April
KARACHI: Remittances from overseas employees registered a sharp reduction, falling to $2.2 billion in April 2023 from $2.5 billion in March 2023, a 12.9% month-over-month decline., showed data released by the State Bank of Pakistan (SBP) on Wednesday. On a
PKR plunges Rs5.38 as dollar crosses 290 amid political unrest
KARACHI: The Pakistani rupee reached a record low against the US dollar on Wednesday, weakening by around 1.9% in the interbank market, as the ongoing political unrest had a negative impact on market sentiment. As per the State Bank of
Rupee continues to decline against Dollar amid debt repayment arrangements
KARACHI: The Pakistani rupee continued its downward trajectory against the US dollar on Wednesday, depreciating 0.41% in the inter-bank market during early trading hours. At approximately 11 am, the currency was being quoted at 286, representing a decrease of Rs1.16.
PKR loses Rs0.99 against US dollar
KARACHI: The Pakistani rupee on Tuesday registered more losses against the US dollar, settling with a depreciation of 0.35% in the interbank According to the State Bank of Pakistan (SBP), the local currency closed at 284.84, a decrease of Rs0.99.
Pakistan to pay $3.7 billion debt till June 30: Finance Ministry
ISLAMABAD: As the government struggles to secure a bailout from the International Monetary Fund (IMF), the finance ministry revealed that Pakistan has to pay a total of $3.7 billion of debt payments in the May-June period. “This payment is not
Loan agreement delayed as IMF asks Pakistan to ‘Do More’
ISLAMABAD: Pakistan has been asked to present a repayment plan for a $3.7 billion loan to the International Monetary Fund (IMF) in June, according to media reports, thus delaying prospects of loan agreement, yet again. The IMF has reportedly asked
Pakistani Rupee slightly depreciates against US dollar in Inter-Bank market
KARACHI: The Pakistani rupee depreciated nearly 0.05% against the US dollar in the inter-bank market during the early hours of trading on Monday. At around 10:30am, the currency was being quoted at 283.72, a decrease of Re0.13. During the previous