Pakistan News

    Open Market Currency Exchange In Pakistan

  • Currency volatility in the open market

    The recent volatility in the open currency market had its roots not in the shortage of non-dollar foreign currencies but in the behaviour of foreign exchange companies, inquiries reveal...

    Though, at the peak of the crisis, the rupee that had fallen to near Rs110 per dollar for customer buying in the open market, it has now bounced back (rising to Rs107...

  • Exchange rate stability in open market

    IT comes as a surprise when the US dollar falls sharply in the open market at a time when the external sector is under pressure; and on May 5, financial markets expressed a similar sentiment when the dollar plunged to Rs117...

    30 in the open market after scaling a new height of Rs119...

  • Currency exchange sealed, eight arrested for dollar fluctuation in Peshawar

    PESHAWAR: The Federal Investigation Agency (FIA) sealed a currency exchange for holding excessive foreign currency and for its alleged involvement in wrongful fluctuation of the dollar here on Thursday...

    At least eight employees of 'Pakistan Currency Exchange' in Peshawar's Chowk Yadgar area were arrested during the FIA raid for keeping more foreign currency at the exchange than the authorised limit...

  • Currency dealers see ‘exchange rate bubble’ set to burst

    KARACHI: The exchange rate has been stable for more than 100 days now, but experts in the inter-bank market see a bubble that may burst in the next two months, experts and currency dealers said...

    Experts see no demand for the US dollars in the open market, but are of the view that primary dealers in the inter-bank market are under pressure from the State Bank to keep the exchange rate stable...

  • Bitcoin futures rise as virtual currency hits major exchange

    The first-ever bitcoin future jumped after it began trading on Sunday as the increasingly popular virtual currency made its debut in a major United States (US) exchange...

    The futures contract, that expires in January, surged more than $3,000 to $18,010 four hours after trading launched on the Chicago Board Options Exchange (CBOE)...

  • Market seesaws amid currency drama

    Average annualised return on all fresh deposits of all banks (excluding only those applicable on the interbank market) fell to 3...

    Moneyed people are resorting to a long-forgotten way of retaining value: buying dollars from the open market in anticipation of a looming rupee depreciationBank borrowers, particularly big ones, are getting cheap loans as the money market remains liquid despite banks’ increased lending to the...

  • FIA raids currency market in Peshawar

    PESHAWAR: The Federal Investi­gation Agency (FIA) and local police in a joint operation raided a currency market in Peshawar’s Chowk Yadgar area and arrested 45 dealers allegedly involved in hundi business...

    Mr Zeb said that besides arrests of the people, the market from where this business was being done had also been shut down...

  • Panic takes its toll on currency market as dollar nears Rs108

    70 in the open market on Tuesday, bringing into question the strategy adopted by the State Bank of Pakistan (SBP) and exchange companies to keep the greenback at Rs106...

    Currency experts believe that panic in the bourse has started to affect the currency market, and a rush for dollar buying has pushed up its value creating a wide gap between the inter-bank and open market rates...

  • Currency market remains calm

    Dealers said major currencies in the international market remained vulnerable during the US presidential election...

    “The fate of the dollar may not be grim in the long run, but the pound and the euro found space to gain against the US currency as Donald Trump won the election,” said Forex Association of Pakistan President Malik Bostan...

  • Divergent trends in currency market

    The local currency market witnessed divergent trends last week...

    Comfortable reserves position and sufficient capital inflows, besides the dollar weakness against major currencies overseas during the most part of the week, restricted the rupee fall in the domestic market...

  • Optimism evaporates from currency market

    KARACHI: Exchange rate stability, visible after the general elections held on July 25, seems to have evaporated since dollar in open market for the first time in more than a month traded higher than the inter-bank rate...

    Currency dealers said the change in prices was not led by increase in demand for the greenback, but was triggered by supply shortage...

  • Peshawar currency market raid a step towards preventing terror financing: FIA

    The Federal Investigation Agency (FIA) on Sunday linked the sealing of a currency market in Peshawar a day earlier with measures taken to prevent money laundering and comply with the requirements of the Financial Action Task Force (FATF)...

    In June 2018, the FATF — an international terrorism financing watchdog — had found "strategic deficiencies" in Pakistan's ability to prevent terror financing and money laundering...

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