pakish

State Bank of pakistan reserves hit two-month high

Karachi: On Thursday, the State Bank of Pakistan (SBP) added $1.16 billion from the International Monetary Fund under the Extended Fund Facility (EFF) to bring its foreign currency reserves to a two-month high of $8.857 billion. According to the SBP, on August 31, it received profits of $1.16 billion, or SDR …

Read More »

Dollar at two-decade high as US job data looms

Ahead of US labor statistics that might support the argument for rapid interest rate rises, investors were in no hurry to sell the dollar, which was poised for its third straight week of gains and hovering around its best levels in decades versus the euro and yen on Friday. The …

Read More »

PKR falls by Rs1.1 in interbank

Friday’s interbank market morning trading saw the PKR lose Rs1.1 vs. the dollar, ending a three-day winning run. Data from the Forex Association of Pakistan shows that at 11:45 am, the local currency was trading at Rs 219.7 per US dollar. The primary cause of the rupee’s devaluation, according to …

Read More »

PKR gains Rs1.5 in interbank after IMF tranche received

The PKR continued to recover on Thursday, appreciating by Rs1.5 against the dollar during early trade in the interbank market, with analysts attributing the gains to the State Bank of Pakistan (SBP) receiving a much-needed $1.16 billion deposit from the International Monetary Fund (IMF). The local currency was being traded at Rs217.25 …

Read More »