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Tag Archives: Pakistani Rupee

Rupee weakens in inter-bank, open market

The US dollar reaches Rs 102.2 in the inter-bank market on Tuesday as supporters of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan and Pakistan Awami Tehreek (PAT) chief Dr Tahirul Qadri marched towards the Prime Minister’s House, intensifying the situation in Islamabad. On Tuesday, the US dollar gained Re 1 while on Monday, on the first day of trading, rupee strengthened ... Read More »

Rupee strengthens 60 paisa against dollar

The US dollar lost 60 paisa against Pakistani rupee on Friday in both inter-bank and open markets despite the business activities have been slowed down amid uncertainty on the political front for the last two weeks. On Thursday, the US dollar gained 75 paisa against Pakistani rupee in open market to reach 102.45 as the rupee could not maintain its ... Read More »

Rupee hits back, gains 96 paisas against dollar

KARACHI: The US dollar lost 96 paisa in the inter-bank currency exchange on Tuesday, reaching Rs 102.34 mark as rupee strengthened despite the prolonged sit-ins in the capital. On Monday, though, the US dollar gained 63 paisas against Pakistani rupee in inter-bank market and was at 103.30, on Tuesday it lost 96 paisas to stand at 102.34 against rupee. Read More »

Need to work out win-win solution

 The political chaos created by the sit-ins by Pakistan Tehreek-e-Insaf chief Imran Khan and Pakistan Awami Tehreek leader Dr Tahirul Qadri has begun to dent the national economy. The Pakistani rupees is continuing shedding its value against dollar while trade and business activities are also slowing down in the twin cities and elsewhere in the country. It is reported that ... Read More »

Imran, Qadri marches: Rupee continues to lose value against dollar

KARACHI: Pakistani rupee continued to lose value as it plummeted 70 paisas against US dollar in the inter-bank market as later touched the Rs 101.10 mark. Traders and businessmen are worried due to this political standoff because this situation would further curtail the value of local currency against dollar. Analysts reflected that if the current political scenario continued to prevail ... Read More »

Rupee weakens against dollar amid Azadi, Inqlab marches

KARACHI: The call of civil disobedience and sit-ins against government has added to the confusion prevailing in open and intra bank markets. The value of Pakistani rupees has decreased to Rs99.95 in open market against US dollar. Also intra bank rate of dollar touched Rs100.1 with an increase of 6 paisa. Financial analysts said that because of political turmoil and ... Read More »

Hyderabad Customs reluctant to fill vacant seats

HYDERABAD: Hyderabad Customs has failed to appoint new officers on many vacant seats tax officers even after passing 40 days. Also new appointed officers have yet not assigned duties and they are confused about their authority. On the other hand, taxpayers were also facing difficulties regarding submission of their tax returns and other tax related operations because the shortage of ... Read More »

KSE hits all-time high of 30413.23 points

Karachi Stock Exchange (KSE) closed at 30413.23 all time high amid higher trades after SBP mentioned improving economic conditions. KSE 100 index end the day at 30413.23 points compared to 30224.89 points of the last working day on Friday. Moreover, with an immense increase of Rs 42 billion, total capital of market cross Rs 7.100 trillion, and trade share was ... Read More »

Rupee fluctuates owing to political situation in Lahore

ISLAMABAD: US dollar appreciated to as much as over Rs 100 in the currency market due to nervousness created by the arrival of Dr Tahirul Qadri and subsequent events in the day in connection to his arrival. Currency dealers in the open market said that the arrival of Dr Qadri and ensuing political tension depressed the market. Nervous traders turned ... Read More »

Dollar jumps in open market ahead of summer vacations

KARACHI: After staying stable for over a month and a half, US dollar crossed Rs 100 mark in the open market towards the end of this week, said currency traders. Dollar crossed Rs100 by midday however returning back to Rs 99.85 by the close, said a money changer. The greenback breached the limit on Thursday as it was traded at ... Read More »

Dar vows to build forex reserves upto Rs16b by end 2014

KARACHI: Elaborating the government’s steps taken over the last eight months, the Federal Finance Minister said that the government has chalked out a comprehensive plan for building forex reserves to reach $ 16.021 billion by Dec 31, 2014. He was speaking at the exports trophy awards ceremony of Karachi Chamber of Commerce and Industry (KCCI), which was graced by Prime ... Read More »

Rupee appreciation: APTMA seeks incentives for export oriented industry

LAHORE: Following the appreciation of value of Pakistani Rupee against US dollar, export-oriented industry has started suffering from hefty losses. The government must look after and protect the industry by giving it incentives. All Pakistan Textile Mills Association (APTMA) Group Leader Gohar Ijaz said this talking to Customs Today at the APTMA House. “Our exporters are not used to the ... Read More »

Value of rupee was low due to speculations: Dastgir

LAHORE: Federal Minister for Commerce Engineer Khurram Dastgir has said that previously the value of rupee had gone down due to speculations in the market but now it has risen again to normal level. Dastgir said that people were speculating that the government had a deal with the International Monetary Fund (IMF) devalue rupee down to the level of Rs ... Read More »

Appreciation of rupee earns govt Rs800bn: Ishaq Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that depreciation of dollar against Pakistani rupee has profited Rs 800 billion to country’s economy. Addressing a press conference at his office, finance minister said that there was a significant increase in GDP ratio in last eight months. He added that economic development ratio will remain 4.5 per cent in the ongoing fiscal ... Read More »

Rupee continues to gain weight in its value

LAHORE: Pakistani rupee is continuing to gain weight against the US dollar that has depreciated by around Rs 4 in a single week while its value is fluctuating at around Rs 100 mark. US dollar value in international foreign exchange rates stood at Rs 100.69. Pakistan open market rates for US dollar are Rs 100.25 whereas interbank rates for dollar ... Read More »