Currency Rate

Govt crackdown on black market dollar trade pushes deals online

The government’s crackdown on black market dollar trading has strengthened the rupee, but traders say under-the-counter deals have swiftly shifted to smartphones and home deliveries instead. Many unlicensed exchange shops have been shut since July 22, when the military spy agency summoned representatives of the sector to explain the US dollar’s rising cost in the open market. Soon after, […]

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If Pakistan fails to implement broad-based reforms, it may face another economic crisis once IMF programme expires

Pakistan has posted a $2.1 billion current account surplus in FY25, the highest in 22 years. Foreign exchange reserves have climbed to $14 billion, up from a dangerously low $3.5 billion just two years ago. Notably, this improvement has occurred without a parallel increase in foreign debt, prompting many to hail it as a sign

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Rupee Surprises Market By Gaining Big Against US Dollar, UAE Dirham, Saudi Riyal

The Pakistani rupee (PKR) closed in green against the US Dollar (USD) and against the British Pound (GBP) on Thursday. On a day-on-day (DoD) basis, the interbank rate stayed at 285/$ most of the day before closing at the 284 level. Open market rates across multiple currency counters remained at the 285-288 level today. A

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