Author: zerfeshan arshad

In today’s interbank market, the Pakistani Rupee (PKR) fell to a new all-time low versus the US Dollar (USD). During today’s open market session, it lost 47 paisas versus the US dollar after reaching an intra-day low of Rs. 179.20. After losing 64 paisas and ending at 178.13 in the interbank market on Monday, 7 March, it declined by 0.27 percent versus the US dollar and concluded at Rs. 178.61 today. During the current fiscal year, the Pakistani Rupee has lost 13.37 percent, or PKR 21.07, versus the US Dollar. On a calendar-year-to-date (CYTD) basis, it has lost 1.18 percent,…

KARACHI: The State Bank of Pakistan (SBP) kept the benchmark interest rate at 9.75 percent for the next six weeks, in line with market expectations, as the outlook for inflation has improved. “This decision reflected the Monetary Policy Committee’s (MPC) view that the outlook for inflation has improved following the government’s relief package’s announcement of lower fuel prices and electricity tariffs last week,” the central bank said in a statement released after the meeting. High-frequency indicators suggest that growth is continuing to moderate to a more sustainable pace, according to the report. “Despite the significant uncertainty about the future path…

The Pakistan Stock Exchange (PSX) remained under the dominance of the bears on Tuesday, in line with the previous session, as the market reacted to the political uncertainties in the country. The index went below the 43,000-point level in the face of worsening political and economic conditions, as well as escalating geopolitical tensions and commodity prices in the international market. The KSE-100 index ended the day at 42,873.35 points, down 388.62 points, or 0.90 percent.The investment environment was harmed by political uncertainty after the Opposition’s decision to file a no-confidence resolution against Prime Minister Imran Khan in the National Assembly…

The new Civic was also unveiled in a digital launch, presented by Aamir H. Shirazi, President of Atlas Group, Hironobu Yoshimura, CEO of HACL, and Aamir Nazir, General Manager Sales and Marketing at HACL, who informed the audience about the vehicle’s numerous features. Unlike the 6th generation Honda City, which was released last year, the 11th-generation Civic is the most recent model on the market, and it outperforms its rivals, such as the Toyota Corolla and Hyundai, in terms of performance and amenities. Even if it comes at a hefty price. Let’s take a closer look at the car and…

Apple is gearing up for its Peak Performance Spring event on March 8. During the event, the Cupertino-based company is likely to unveil the iPhone SE 3, a new inexpensive iPhone, as well as a new iPad Air and Mac Macs. Now, before of the event, the iPhone SE (2020) is available for Rs 30,298 on Flipkart, with consumers able to save more than Rs 16,000 by taking advantage of exchange and bank incentives. We’ll teach you how to do it this way: Flipkart, the iPhone SE 64GB is available for Rs 30,298. Users may also take advantage of an…

KARACHI: The gold rate in Pakistan increased by Rs600 per tola on Saturday, bringing it to Rs129,400, in line with the worldwide market. The rates of the precious metal increased by Rs515 per 10 gram, settling at Rs110,940 per 10 gram. During the week that concluded on March 5, the yellow metal earned Rs1,450 per tola in the local market. As the Russia-Ukraine issue continues to boost the potential of higher precious metal prices, the worldwide gold price increased by $27 per ounce to settle at $1,974.\ Prior to the crisis between Russia and Ukraine, the US-China trade war had impacted…

Shane Warne, an Australian cricketer who was widely regarded as one of the best players in the sport’s history, died on Friday at the age of 52, according to his management organization. “It is with great regret that we inform you that Shane Keith Warne died away today, Friday 4th March, in Koh Samui, Thailand, of a suspected heart attack,” MPC Entertainment stated in a statement. “At this time, the family begs privacy and will share further information as soon as possible.” Warne was one of cricket’s most dangerous bowlers, with 708 Test wickets to his record, the most ever…

KARACHI: The State Bank of Pakistan’s (SBP) foreign currency reserves declined by $344 million to $16.462 billion in the week ending February 25, according to statistics released by the central bank. The SBP said that the central bank’s reserves were $16.462 billion, down $344 million from the previous day’s figure of $16.806 billion. The cause for the fall in reserves was not given by the central bank. As of February 25, 2022, the country’s total reserves, including net reserves held by commercial banks, were $22.875 billion, according to the SBP. Banks’ net foreign reserves totaled $6.412 billion. Total liquid…

In the interbank market, the Pakistani rupee (PKR) continued to lose versus the US dollar (USD). After touching an intra-day low of Rs. 177.7 versus the US dollar during today’s open market session, the rupee shed 21 paisas against the greenback. After global oil prices shattered multi-year highs amid major supply disruptions across international markets, the rupee finished in the negative versus the dollar today. As traders raced to avoid being involved in penalties, the Russian oil supply was interrupted, pushing benchmark crude oil prices close to $120 a barrel. Brent oil futures rose to $119.84 a barrel, the highest…

For the seventh review under the Extended Fund Facility (EFF), Pakistan and the IMF will begin virtual parleys on Friday (today), where the PM’s relief package and the granting of another tax amnesty for the industrial sector will be significant sticky topics. According to Pakistani officials, the PM’s relief plan to lower gasoline and diesel prices by Rs10 per liter and electricity rates by Rs5 per unit would immediately reduce increasing inflationary pressures by 0.6% monthly. As a result of these alleviation efforts, indirect effects on CPI inflation will be seen in the months to come. The IMF staff, on…