Rupee rises amid political stability | The Express Tribune

PHOTO: REUTERS/FILE KARACHI: The Pakistani currency resumed its uptrend after a day of nominal losses, partially regaining to Rs279.50 against the US dollar in the interbank market on Wednesday amid the beginning of the end of the political crisis over the formation of the government in the centre. According to the State Bank of Pakistan’s […]

Rupee disparity grows amid political turmoil | The Express Tribune

KARACHI: The disparity in the value of the rupee between interbank and open markets widened to over Rs2 on Tuesday, compared to around Rs1.50 previously, signalling a potential return of currency volatility amid political turmoil. The spread, however, stands at 0.72% (Rs2.01), remaining well below the International Monetary Fund’s recommended maximum level of 1.25%. The […]

Sri Lanka to ease limits on rupee conversion | The Express Tribune

COLOMBO: Sri Lanka has approved gradually lifting some limits on converting rupees to foreign exchange for outward remittances and the new directions will be presented to parliament for approval, cabinet spokesperson Bandula Gunawardane said on Tuesday. The island nation’s central bank had suspended permission to remit funds for overseas investments by Sri Lankan residents from […]

Rupee closes below Rs280/$ after a year | The Express Tribune

KARACHI: The Pakistani currency strengthened to over a 12-month high, closing just below the highly anticipated level of Rs280 against the US dollar in the interbank market on Thursday. According to data from the State Bank of Pakistan (SBP), the domestic currency appreciated by 0.04%, or Rs0.12, concluding at Rs279.98 against the greenback. This surge […]

Rupee hits 10-week high against US dollar | The Express Tribune

KARACHI: The Pakistani rupee strengthened to almost Rs281.50 against the US dollar, achieving a 10-week high in the interbank market on Friday. The uptrend continued for the third consecutive working day, with a notable boost in foreign currency inflows contributing to the positive momentum. State Bank of Pakistan (SBP) data revealed a 0.10% increase, equivalent […]

Rupee continues upward trajectory | The Express Tribune

KARACHI: The Pakistani currency continued its upward trajectory, reaching a two-month high at slightly over Rs281.50 against the US dollar in the interbank market on Thursday. This marks the second successive working day of gains, supported by the government’s commitment to crack down on currency smugglers and hoarders. According to the State Bank of Pakistan […]

Rupee hits over two-month high against dollar | The Express Tribune

KARACHI: Pakistani currency resumed its uptrend on Wednesday after taking a breather for a day, hitting over two-month high at slightly above Rs281.50 against the US dollar in the inter-bank market. The uptick stemmed from a reduction in demand for the foreign currency and an increase in its supply in the banking network. According to […]

Rupee can plunge to 350 by end of 2024: report

A foreign currency counts Pakistani rupee notes at a shop in Karachi, on March 2, 2023. — Online The Pakistani rupee can fall to as low as 350 against the dollar by the end of the next year, according to BMI, a Fitch Solutions Company, as it is set to end 2023 as Asia’s worst-performing […]

‘Ishaq-Dar policy appreciating rupee against dollar’

Former minance minister Ishaq Dar addresses a press conference in Lahore on June 30, 2023. — AFP ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) Senator Ishaq Dar said Monday that it was due to the policies he put in place that the rupee had recently gained some ground against the dollar. “I consider the rupee’s depreciation the […]

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