The Pakistani rupee recorded a slight depreciation of 0.04% (Re0.10) against the US dollar in the inter-bank market on Monday, closing at 279.97. This marks the first time in over a year that the local currency has settled below 280 against the greenback. Last week, the PKR saw a gradual decline, losing Re0.30 or 0.11% […]
US Dollar
Oil gains as US dollar eases though demand fears linger
Oil prices rose on Tuesday as the US dollar eases against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from key oil-importing economies such as China. International benchmark Brent crude futures gained 27 cents to $93.53 per barrel by 0415 GMT, after falling 0.3% in […]
Strong US dollar an unstoppable force endangering other currencies
NEW YORK: The dazzling rise of the US dollar, which has hit one record after another, is raising fears of a currency crash of a severity not seen since the 1997 Asian financial crisis reverberated around the world. The Federal Reserve’s rapid, steep interest rate increases and the relative health of the US economy has […]
Currency buying/selling rates – 30 September 2022
According to the Forex association following are the selling and buying rates of major currencies, here on Friday. Currency Selling Rate Buying rate US Dollar 227.5 225 UK Pound 248 245.5 Euro 220.5 218 Japanese Yen 1.25 1.2 Saudi Riyal 60.6 60 U.A.E Dirham 61.7 61
Rupee continues recovery against US dollar
KARACHI: The greenback continued to shed value against rupee on Thursday. It traded at Rs219.38 in the interbank while the banks are selling the US dollar at Rs220.18, forex dealers said. In open market, the dollar declined by Rs2 and traded between Rs216 to Rs218. US dollar shed Rs2.53 in the interbank today and […]
Rupee sheds 79 paisas against dollar
Exchange rate of Pak Rupee weakened by 79paisas against the US Dollar in the interbank trading on Monday and closed at Rs200.93 against the previous day’s closing of Rs200.14. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs200.75 and Rs202.25 […]
In Intra-Day trading, US Dollar hits news high against Rupee
KARACHI: During intra-trading in the interbank market on Friday, the US dollar maintained its upward trend versus the Pakistani rupee. According to forex traders, the dollar gained 49 points versus the rupee, reaching a new all-time high of Rs176.97. The dollar had completed the previous day’s interbank trading at Rs176.42 versus the rupee. In the […]
US Dollar raises 51 paisa against the Pakistani Rupee
KARACHI: In intraday trade in the interbank currency market on Thursday, the US dollar surged 51 paisa to Rs176.09 against the Pakistani rupee. According to foreign currency dealers, the greenback resumed lower by 3 paisa at Rs175.45, compared to its last close of Rs175.48 against the domestic unit but later, not only pared initial loses […]
Ecolean set to invest $110 million in ecofriendly packaging
Sweden based manufacturing company Ecolean has set to launch its first ecofriendly packaging plant in Pakistan with an investment of 110 million US dollars. This was disclosed by company manager Zeeshan Asif during a briefing with a group of journalists. He said that it was the first packaging supplier in the world to review the […]
Sri Lanka may need more IMF help as blasts threaten tourism
Sri Lanka faces a likely collapse in tourism following Easter Sunday bomb attacks on churches and hotels, which would deal a severe blow to the island’s economy and financial markets, and potentially force it to seek further IMF assistance. The International Monetary Fund extended last month a $1.5 billion loan for an extra year into […]