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KARACHI: Following intervention from the StateBANK  of Pakistan (SBP), the exchange rate gained stability on Wednesday. The rupee has seen 4.7 per cent devaluation in the last four working days. The dollar was traded as high as Rs111 in the interbank market. But it remained mostly around Rs110.25-50, said currency dealers. However, the SBP reported […]

KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between October and July 21 despite commercial borrowing of more than $4.4 billion in 2016-17. Currency experts said pressure is mounting on the exchange rate as reserves fall. Dealers in the interbank market said the dollar rate, after reversing from Rs108 to Rs105.40, […]

KARACHI: The rupee remained stable against the dollar at 105.4/105.6 in the inter-bank market on Friday compared to Thursday’s close of 105.4/105.6. The currency market has fluctuated regularly in recent months with hefty rises and falls on some occasions. In the long run, however, the rupee has stood firm after experiencing extensive volatility, when it weakened […]

JHANG: The Federal Investigation Agency, Karachi, has issued notice to a student of Jhang district belonging to a lower middle class family with regard to an inquiry into a suspicious bank account transaction worth Rs173 million. An FIA team had detected Rs173m worth of transaction through a bank account [in Karachi] under the title of […]

KARACHI: The rupee weakened against the dollar at Rs133.7/133.9 in the inter-bank market on Wednesday compared with Tuesday’s close of Rs133.59/133.78, according to the State Bank of Pakistan. A slump in the value of the rupee came last week after the government decided to knock at the International Monetary Fund’s (IMF) door to avoid default on […]

Bears dominated the Pakistan Stock Exchange (PSX) on Monday, with the benchmark KSE-100 index losing 412 points, or 0.88 per cent, to close at 46,466. The market hit its high point at 46,929 within the first half hour of trading, but continued to fall and marked 46,336 as the day’s low towards the close of […]

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) Senior Vice President Muhammad Naveed Malik has lamented that Pakistan’s total debt and liabilities have surged to Rs29.861 trillion while external debt and liabilities have crossed $95 billion as of June 30, 2018. “This indicates that every Pakistani owes a debt of Rs144,256, which is a cause of […]

DEPOSITS and other accounts of all scheduled banks stood at Rs11,651.413 billion after a 0.86 per cent increase over the preceding week, according to the weekly statement of position of all scheduled banks for the week ended Aug 25. On a year-on-year basis, the figure was higher by 14.61pc. Deposits and other accounts of all […]

Prime Minister Imran Khan has revealed that authorities have found 128 more bank accounts through which billion of rupees were laundered outside the country. “The opposition is raising a hue and cry over ‘threats to democracy’ as it is afraid of going to jails. Even enemies do not treat you the way previous governments treated […]

KARACHI: Five former senior officials of National Bank of Pakistan (NBP) and two corporate chiefs are in the crosshairs of the National Accountability Bureau (NAB) for allegedly engaging in a fraud to the tune of Rs10.4 billion. The accused include Azgard Nine Ltd CEO Abid Humayun Shaikh and CFO Abid Amin. The company is a […]