KARACHI: The dollar weakened further on Monday, losing within a week 5 per cent of its value against the rupee. It...
Currency dealers say the greenback is likely to fall below Rs100 over the next few days.
Dollar was traded at Rs102.90-95 in the inter-bank market on Friday.
The local currency overpowered the US$ on Thursday, forcing the greenback to shed value in both inter-bank,open markets.
Remittances have exceeded expectations which has helped to stabilise the exchange rate, said bankers and money changers
KARACHI: The country’s economy grew by five per cent during the first quarter of the current fiscal year, but the...
In 2nd auction of this quarter held yesterday, govt sold PIBs worth Rs247bn, exceeding Rs60bn target by over 4 times.
The govt has further reduced its reliance on scheduled banks, while its borrowings from SBP have increased instead.
KARACHI: The country paid about $4 billion in debt servicing in the first two quarters of the current fiscal year....
A report issued by the State Bank on Friday showed that consumer financing went up by Rs25bn from Jan 2013 to Jan 2014.
The current account deficit rose to $2 billion in the first seven months of this fiscal year.
The SBP reported that during the July-Feb period of 2013-4, FDI inflow stood at $523m while it was $528m during 2012-3.
Massive outflows from banks have put them in the same position as they had been during the 5yrs of the previous govt.
The move has generated anxiety in the financial sector, and may add to the volatility in the currency market.
The liquidity raised through the bonds auction indicates that private sector borrowings are now a high govt priority.
Repatriation of profits on foreign investment during 1st 6mnths of FY14 exceeded $579m while net FDI stood at $416m.
Pakistan's urban population is poorer than its rural counterpart with inequality rising in the last 10 years.
Govt raised Rs733bn from banks which was much higher than the target of Rs450bn set for this quarter (Jan-Mar, 2014).
Though the current account deficit exceeded $1.5bn in the 1st half of FY14, the month of Dec posted a surplus of $285m.
The SBP kept its policy rate unchanged at 10pc for the next 2 months, after sensing the situation as relatively stable.