Page 3 - Beta Core News Today

Regains 0.22% to Rs238.84 in inter-bank market

Currency sinks to record low on reports of foreign currency shortage in banks

Reserves slipped below $9 billion, indicating a worsening balance of payment crisis

Experts say 0.25% tax on proceeds will discourage exports, documentation

Spikes nine fold to $176 million in first quarter of 2022

Some traders laud move, others fear it will spark inflation

Despite Covid impact, rupee stays strong vs dollar Pakistani currency strengthened 6.2% to stand at 157.54 at end of FY21 PHOTO: FILE KARACHI: Pakistani rupee showed strong resistance against the US dollar during fiscal year 2020-21 despite serious repercussions of Covid-19 for the national economy. The local currency appreciated by 6.2% against the greenback between July 1, 2020 and June 30, 2021. On Wednesday - the last day of the fiscal year - the rupee traded at Rs157.54 to a dollar compar...

Pakistan books 11 cargoes of LNG Imports aimed at bridging fuel deficit in the economy In Pakistan, consumption of imported gas has remained low mainly due to the gas import contract at higher price. PHOTO: REUTERS KARACHI: Pakistan has booked 11 cargoes of liquefied natural gas (LNG) to be imported during March to partially bridge the deficit part of the fuel in the growing domestic economy. The imports would, however, be made at an eight-month high price at $9.59 per metric million British ...

No change expected in interest rate SBP will announce benchmark interest rate for next two months today Earlier, the State Bank of Pakistan (SBP) had cut the benchmark interest rate by an aggressive 625 basis points during March-June 2020 to the current 7%. PHOTO: FILE KARACHI: Pakistan’s central bank is scheduled to meet on Friday (Jan 22) to determine the benchmark interest rate for the next two-month amid a situation whereby the second wave of Covid-19 pandemic still poses risk to economi...

Pakistani Rupee Loses Big Against GBP, Remains Stable Versus the US Dollar After a sudden drop in the Pakistani Rupee’s value against the US Dollar on the first day of the week, PKR held its ground today. Yesterday, PKR lost 62 paisas against the USD, while in today’s interbank session, PKR closed with a gain of 3 paisas, trading at Rs. 160.67 on Tuesday (December 22) as compared to Rs. 160.71 on Monday. Against other major currencies, PKR lost almost 12 paisas against the Euro, adding to y...