Rupee continues to slide against dollar amid political uncertainty on July 26, 2022As the political crisis in the country worsens, the Pakistani rupee hit an all-time low against the US dollar on Monday during intraday trade in the interbank market. Data from the State Bank of Pakistan (SBP) show that during intraday trade, the rupee fell to Rs230 from a rate of Rs228.37. According to forex dealers, […]
Russian rouble falls past 58 vs dollar as market takes stock of rate cut on July 26, 2022The Russian rouble fell past 58 against the dollar in jittery Moscow trade on Monday, adjusting to the central bank’s decision on Friday to cut interest rates, and as a rouble-supportive tax-payment period reaches its peak. By 1339 GMT, the rouble was 1.3pc weaker against the dollar at 58.01. It had lost 1.2pc to trade […]
Bitcoin manages to float above $20k despite recent liquidations and heavy outflows on July 25, 2022Despite the heavy outflows, Bitcoin still managed to promptly recover above $20,000. The recovery demonstrated Bitcoin’s strength despite being stress tested against highly volatile and unfavourable market conditions. Could this outcome be a sign that the market is ready for a bigger recovery? A look at some metrics may help provide a clearer picture of […]
US crude below $95 for the first time since April on July 25, 2022US crude prices settled below $95 a barrel for the first time since April in choppy trading on Friday after the EU said it would allow Russian state-owned companies to ship oil to third countries under an adjustment of sanctions agreed by member states this week. US West Texas Intermediate crude settled $1.65, or 1.7pc, […]
China plans three-tier data strategy to avoid US delistings on July 25, 2022China plans to sort US-listed Chinese companies based on the sensitivity of the data they hold in an attempt to stop US regulators from delisting hundreds of firms, the Financial Times said on Saturday. The three-tier system aims to bring Chinese companies into compliance with US rules that would require public companies to let regulators […]
Gold price up by Rs900 to Rs146,300 per tola on July 24, 2022The price of 24 karat per tola gold witnessed an increase of Rs900 per tola and was sold at Rs146,300 on Saturday against its sale at Rs145,400, the previous day in the local market. The price of 10-gram 24 karat gold also increased by Rs772 and was sold at Rs125,429 against its sale at Rs124,657, […]
Electricity tariff increases by Rs7.91 per unit on July 24, 2022The National Electric Power Regulatory Authority (Nepra) has approved the federal government’s request to increase the base power tariff by Rs7.91 per unit, seemingly fulfilling another IMF conditionality. After the federal government issues a notification, the new raise will become effective. The government’s request to charge end-consumers of all power distribution companies, including K-Electric, a […]
North Korea denounces US over Washington’s remarks on cryptocurrency stealing on July 24, 2022North Korea on Saturday condemned remarks by a senior White House official about Pyongyang’s cyberattack capabilities and said it would continue to stand against what it called US aggression toward it. A Foreign Ministry spokesperson said that branding North Korea as a “group of criminals” revealed the true nature of Washington’s hostile policy toward North […]
Dollar reaches all time high of Rs228.50 against Pak rupee on July 23, 2022The US Dollar continued its flight on against rupee as it is being traded at a new all time high of Rs228.50 in the interbank market. The rupee fell down by Rs1.69 after the business day started in interbank. On other hand, dollar gained Rs1 in Open Market and is being traded at Rs229.50. The […]
PSX gains 245 points, closing at 40,077 points on July 23, 2022The KSE 100-index of the Pakistan stock exchange (PSX) witnessed bullish trend on Friday, gaining 245.55 points, a positive change of 0.62pc, closing at 40,077.30 points against 39,831.75 points on the last working day. A total of 171,270,302 shares were traded during the day compared to the trade of 157,992,886 shares the previous day, whereas […]