Mumbai: The Indian rupee slid to a record low on Monday as escalating tensions in the Middle East raised concerns about prolonged disruptions to global energy supplies, posing risks to India’s economic outlook. Read More: Indian rupee falls past 90 per dollar on trade worries The currency weakened to 93.84 against the US dollar, surpassing its […]
currency market
SBP cancels licence of another exchange company
The State Bank of Pakistan (SBP) has cancelled the licence of Glaxy Exchange (Private) Limited for what it described as serious violations of regulatory instructions, marking the first such action against an exchange company in 2026 and adding to a growing list of firms forced out of the market. Read More: SBP cancels license of exchange […]
SBP acquires $5.5 billion in dollar purchases amidst ongoing economic struggles
The State Bank of Pakistan (SBP) has acquired $5.5 billion from the banking market in the first seven months of the fiscal year 2024-25. These dollar purchases, part of the SBP’s regular currency market interventions, show a steady increase each month. The central bank’s dollar buying activity included significant amounts such as $1.026 billion in […]