Pakistani rupee continued to stabilize for the second consecutive working day, as it made fresh recovery against the US dollar in the inter-bank market on Monday. According to details, the local currency appreciated by Rs2.15 against the greenback and was being traded around Rs237.5. The rupee had closed at Rs239.65 on Friday, according to Pakistan’s مزید پڑھیں

The pound hit a record low against the dollar Monday on surging fears about the UK economy after the government unveiled a huge tax-cutting budget. The selloff came as equity markets across Asia and Europe fell again owing to a growing expectation that central bank interest rate hikes to fight runaway inflation would lead to مزید پڑھیں

Prime Minster Shehbaz Sharif has said that Pakistan might have to import over a million tonnes of wheat from Russia, provided the right price and terms and conditions, as the country reels from the losses incurred after catastrophic floods. Speaking during an interview with Associated Press (AP) on Friday, the prime minister said that the مزید پڑھیں

The country’s economy suffered a loss of around Rs4.81 trillion because of the recent spell of torrential rains and the ensuing floods, according to the government’s preliminary estimates. Crops including fruits and vegetables were most affected because of the floods and rains, said officials of the national food security ministry. The floods devastated crops worth مزید پڑھیں

Pakistan should suspend international debt repayments and restructure loans with creditors after recent floods added to the country’s financial crisis, the Financial Times reported, citing a UN policy memo. The memorandum, which the UN Development Programme will share with Pakistan’s government this week, states that the country’s creditors should consider debt relief so that policymakers مزید پڑھیں

 In line with the dominant trend over the last several weeks, the country’s foreign exchange reserves held by the State Bank of Pakistan (SBP) once again declined by 3.21%. On September 16, the foreign currency reserves held by the SBP were recorded at $8,346.4 million, down $278 million compared with $8,624 on September 9, data مزید پڑھیں

The federal government once again announced increasing the petrol price by Rs1.45 per litre, a notification from the Finance Division released early Wednesday said. After the changes in the price, according to the notification, petrol will now be available for Rs237.43 per litre. Initially, it was reported that the price of petroleum products will drop مزید پڑھیں

The Pakistani rupee continued its downward spiral unabated for the 14th consecutive session on Wednesday and hit an all-time low of Rs240 against the US dollar in the interbank market amid floods and a shortage of greenback in the country. The rupee has been one of the worst performing currencies in the emerging markets and مزید پڑھیں

US dollar nearing its all-time high value after gaining Rs1.09 in the interbank on Tuesday. During interbank trading on Tuesday morning, a single dollar was being traded for as high as Rs239. On Monday afternoon, at the close of trading in the interbank, the rupee had closed at Rs237.91. But on Tuesday, the rupee lost مزید پڑھیں

Oil prices steadied on Tuesday after rising in the previous session on concerns that further United States interest rate hikes this week to tame inflation will curb economic growth and fuel demand in the world’s biggest oil consumer. Brent crude futures for November settlement rose three cents to $92.03 a barrel by 0449 GMT. US مزید پڑھیں