Rupee extends losses against dollar, falls by Rs3.42 in interbank
According to experts, the dollar saw the rise due to imports opening up gradually and the letters of credits retiring.
Talqeen Zubairi
KSE-100 sheds over 400 points amid political tension, speculation over IMF deal
The Pakistan Stock Exchange’s benchmark index opened on a positive note but turned bearish within minutes.
State Bank of Pakistan hikes policy rate by 300 basis points to 20%, highest since Oct 1996
The central bank said the decision reflected the “deterioration in inflation outlook” and its expectation amid recent external and fiscal adjustments.
PKR loses Rs1 in interbank, close to all-time low
Data compiled by financial data and analytics portal Mettis Global showed the rupee's value has declined 13.9 per cent since July 1.
Pakistan rupee makes highest single-day gain of Rs9.59 in interbank markets
An expert noted the recovery was due to a sharp drop in import payments after all letters of credit for oil in July were cleared and exporters rushed to close their open positions.