Pakistan News

    1 Dollar Pakistan Rs Vs Us

  • Yuan may replace dollar in Pakistan-China trade

    ISLAMABAD: Minister for Planning and Development Ahsan Iqbal said on Monday that the government was examining a proposal to replace the US dollar with the Chinese yuan for trade between China and Pakistan...

    He was talking to journalists after the formal launch of Long Term Plan (LTP) for the China-Pakistan Economic Corridor (CPEC) 2017-30 signed by the two sides on Nov 21...

  • Pakistan among countries most vulnerable to dollar appreciation: Moody's

    Moody's Investors Service has identified Pakistan among the countries most vulnerable to dollar appreciation, according to an announcement on Friday about its new report...

    "Looking at the size and composition of their balance of payments and the amount of financial buffers in the form of foreign exchange reserves, Moody's identified Argentina, Ghana (B3 stable), Mongolia (B3 stable), Pakistan (B3 negative), Sri Lanka (B1 negative)...

  • Gold down as dollar rebounds

    LONDON: Gold edged lower on Thursday and was vulnerable to further weakness as the dollar rebounded and ahead of a widely anticipated US interest rate rise next week...

    85, its lowest since February 2010, last week, when the dollar spiked to its highest level in 12-1/2 years following Fed chair Janet Yellen’s hint at a US rate rise...

  • Rupee report: Rupee largely stable against dollar

    The rupee mostly held its ground against the dollar in the local currency market last week, as the effects of foreign inflows and the dollar’s rise against global currencies largely cancelled each other out...

    The dollar thus ended the first trading session at Rs101...

  • Rupee report: Rupee inches up vs dollar

    DIVERGENT trend was witnessed in the local currency market last week as politics overshadowed the trading activities where the dollar displayed strength against the rupee amid mounting month-end dollar demand owing to buying pressure for import and corporate payments...

    Commencing the week on a negative note, the rupee traded in minus against the dollar in the first four trading sessions in the interbank market, owing to persistent...

  • Gold slips on firm dollar

    LONDON: Gold dropped for a fourth session in five on Monday, as the dollar firmed after fresh comment from Federal Reserve officials that the central bank could look at raising US interest rates soon...

  • Dollar hits new high

    TOKYO: The dollar hit fresh multi-year highs against some emerging market currencies Friday as investors increasingly bet on a US rate hike this year, while the euro lost early gains driven by easing fears over the Greek debt crisis...

  • SBP allows free dollar import for two months

    Currency dealers said the decision will immediately improve dollar supply in the market, reduce dollar demand, bring down difference in dollar rates in open/inter-bank and will bring stability in the exchange rate...

    “Exchange companies were banned in April 2005 to bring dollars into the country and were bound to send dollars through TT (telegraphic transfer- through banks),” said Zafar Paracha, Secretary, Exchange Companies...

  • Rupee report: Rupee strengthens against dollar

    THE rupee has been showing a stable trend against the dollar over the past few months after some hefty rises and falls in early 2016...

    With foreign exchange reserves at record levels, there were sufficient dollar supplies available in the market as workers’ remittances sent by overseas Pakistanis ahead of Eid-ul-Fitr continued to surge and posted almost 5pc growth during the first half of 2016...

  • Dollar rising in open market

    KARACHI: The Exchange Companies Associa­tion of Pakistan (ECAP) reported the dollar rate in the open market on Wednesday as Rs107...

    “There are several reasons for the dollar appreciation, but the main problem is political uncertainty” said ECAP General Secretary Zafar Parach...

  • Rupee dull against dollar

    The State Bank of Pakistan (SBP) is strictly monitoring the currency market and providing sufficient foreign exchange for routine business which has prevented the rupee from falling sharply against the dollar...

    At the same time a weak dollar on the international market also provided some support to the rupee...

  • Narrow rupee-dollar parity

    On the interbank market, the rupee/dollar parity traded in narrow range moving both ways amid mixed sentiments...

    The parity turned negative on Monday as the rupee failed to hold weekend firmness against the dollar to trade at Rs105...

  • SBP allows dollar-denominated insurance policies

    KARACHI: The State Bank of Pakistan (SBP) has allowed resident insurance companies to issue dollar-denominated insurance policies on a notional basis to meet the condition of foreign lenders and foreign projects undertaken in Pakistan...

    “It has now been decided to allow resident insurance companies, rated at least as ‘A’ by any approved rating agency of Pakistan, to issue dollar-denominated insurance policies on a notional basis to...

  • Dollar buying gathers momentum

    This is reflected in the increase in commercial banks’ dollar deposits,” said Husain Lawai, vice chairman of Summit Bank...

    He acknowledged that the dollar reserves held by commercial banks have shown a sharp increase, but noted that this can equally be attributed to rising exports in the first two months of 2017-18 as well as an increase in remittances...

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