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1-10 results from 1000 for query «rupee»

August 13, 2018 1:07 AM PTI insists IMF is a ‘fallback’

ASAD Umar, the man expected to get the most important job of bringing the faltering economy back on its feet in the incoming Pakistan Tehreek-i-Insaf (PTI) government, views an International Monetary Fund (IMF) bailout as a “fallback option”. He does not rule out the possibility of knocking at the door of the lender for its dollars to prop up the depleting 2

July 21, 2018 12:00 AM PIAF demands currency crash probe

LAHORE: A massive rupee devaluation of over 21 percent against dollar during the last six months demands an immediate high-level probe to find out what caused this currency disaster, industry officials said on Friday. “The State Bank of Pakistan is urged to identify the reasons and share the findings with the business community,” Irfan Iqbal Sheikh 4

July 20, 2018 12:00 AM Caretaker setup shows lack of control over currency regime

LAHORE: The interim government’s seemingly lost control over the currency regime is being ignored, as all political parties are busy slinging mud on each other that is further damaging the already weak economy of Pakistan. Rupee traded at Rs110 against dollar when the caretaker government was sworn in; however, in less than 50 days the value has dropped 2

July 19, 2018 12:00 AM Jang Economic Session: Rupee devaluation to bring new wave of inflation, say experts

LAHORE: Devaluation of rupee against the US dollar will affect all segments of society, PML-N, PTI and PPP experts should evolve a mechanism to handle the issue and Senate Standing Committee on finance can play an effective role in this regard. These views were expressed by the experts at Jang Economic Session on ‘impact of devaluation of rupee against 2

July 17, 2018 12:00 AM Gold jumps Rs850/tola on rupee depreciation

KARACHI: Gold grew dearer in the local market going up by Rs850/tola to reach Rs59,650/tola largely driven by the depreciation of rupee that is currently in the dumps against dollar, traders said on Monday. Gold appreciated by $2 to $1,244 per ounce in the international market. Haji Haroon Chand, president Sindh Sarafa Bazar Association, said the gold became 4

July 16, 2018 7:37 AM Pakistani rupee tumbles, SBP cites "market forces"

ISLAMABAD: The Pakistani rupee dropped sharply in early trade on Monday in what appeared to be another devaluation by the central bank, two market analysts said, the fourth such intervention since early December. The currency was trading at around 125/126 per dollar at 10.30 am local time (0530 GMT) after closing at 121.5 per dollar on Friday. "It looks 4

July 12, 2018 8:04 AM SC bars FIA from summoning Zardari, Faryal Talpur in money laundering case

ISLAMABAD: The Supreme Court on Thursday directed the Federeal Investigation Agency not to summon Asif Ali Zardari and his sister Faryal Talpur before general election. The orders came during suo motu hearing of reports about a multi-billion rupee money laundering scam. Senior lawyer Farooq H. Naek represented Zardari in the apex court which said the case could 4

July 12, 2018 12:59 AM Trade gap hits record $37.7bn

ISLAMABAD: Pakistan’s trade deficit widened to an all-time high of $37.7 billion in the outgoing fiscal year, contributing to the rising current account deficit of the country. The deficit soared almost 16 per cent during the 2017-18, posing a serious challenge for the government to control the menace of rising current account deficit, according to official 6

July 8, 2018 9:23 AM Multi-billion rupee scam: SC asks Interior Ministry to put fake account holders on ECL

ISLAMABAD: Director General Federal Investigation Agency (FIA)Bashir Memon on Sunday told the Supreme Court that Rs35 billions were transferred to 29 fake bank accounts as he appeared before the apex court after the chief justice took suo motu notice of reports transfer money from fake bank accounts . The bank accounts, he said, were opened in Sindh

June 24, 2018 12:00 AM Tax amnesty scheme: SBP unveils guidelines for investment in dollars-denominated bonds

KARACHI: The central bank on Saturday unveiled the procedures for individuals who want to invest their undeclared liquid local or foreign assets into dollars-denominated bonds, as the deadline for the tax amnesty scheme is fast approaching. The State Bank of Pakistan (SBP) said it will open a subsidiary general ledger account of the taxpayer after receiving 3