• Download the Constitution of Pakistan
  • Advertise
Sunday, July 27, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Business

Rupee registers losses against US dollar

by News Publishing
April 10, 2023
in Business
Reading Time: 2 mins read
0
Rupee registers losses against US dollar
Share on FacebookShare on TwitterLinkedinWhatsapp

The Pakistani rupee fell against the US dollar, falling approximately 0.46% in the early hours of trading on Monday in the interbank market.

Around 11 a.m., the rupee was quoted at 285.96, down Rs1.31 against the US dollar in the interbank market.

The rupee fell 0.3% versus the US dollar in the previous week, closing at 284.65 in the interbank market.

The currency sank in four of the five sessions, with the lone rise coming on Thursday when a finance ministry official announced that the International Monetary Fund (IMF) had indicated that it had received a financial promise from Saudi Arabia.

Rupee falls slightly against US dollar

On Saturday, Finance Minister Ishaq Dar stated that the delay in confirming funds from a friendly country was the primary reason for the delay in the staff-level agreement between Pakistan and the IMF.

The financing confirmation would close Pakistan’s external account shortfall and satisfy the IMF’s final requirement.

The currency is likely to continue under pressure.

Meanwhile, Bilal Azhar Kayani, the Prime Minister’s Coordinator for Economy and Energy, stated on Sunday that the government successfully avoided default and voiced optimism for a rise in foreign exchange reserves as a result of a staff-level agreement with the IMF.

Internationally, the US dollar began the week on the offensive as US jobs statistics indicated a robust labor market, bolstering anticipation that the Federal Reserve will hike interest rates again at its meeting next month.

The dollar index, which measures the US currency against six major counterparts, climbed 0.225% to 102.25, moving away from the index’s two-month low of 101.40 last week.

Oil prices, a crucial indicator of currency parity, remained relatively constant on Monday as investors weighed the potential of tighter supplies from OPEC+ producers beginning in May against fears about slowing global growth, which might reduce the use of fuel.

Tags: IMFIshaq DarlatestRupeeUs Dollar
News Publishing

News Publishing

Related Posts

Pakistan, Russia sign Protocol to restore & modernize PSM

Pakistan, Russia sign Protocol to restore & modernize PSM

by News Publishing
July 11, 2025
0

Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing...

PSX soars to new high of over 133,000 points in intraday trade

PSX soars to new high of over 133,000 points in intraday trade

by News Publishing
July 7, 2025
0

July 8, 2025: The Pakistan Stock Exchange (PSX) continued its remarkable upward trend on Monday, as the KSE-100 index surged...

Pakistan, Azerbaijan sign $2billion investment agreement

Pakistan, Azerbaijan sign $2billion investment agreement

by News Publishing
July 5, 2025
0

Pakistan and Azerbaijan have signed an agreement for investment worth two billion dollars in diverse sectors of Pakistan's economy. The...

Petrol price increased by Rs8.36 per litre for next fortnight

Petrol price increased by Rs8.36 per litre for next fortnight

by News Publishing
July 1, 2025
0

The Finance Division has announced a significant increase in fuel prices, citing volatility in global crude oil markets. Effective from...

Petrol increase

Petrol Prices Likely to Rise by Rs5/Litre from July 1

by Anum Arif
June 30, 2025
0

ISLAMABAD: Prices of petroleum products in Pakistan are likely to rise by up to Rs5 per litre starting Monday, July...

Govt Eyes $3.3 Billion in Foreign Loans From Chinese Banks

Govt Eyes $3.3 Billion in Foreign Loans From Chinese Banks

by News Publishing
June 24, 2025
0

The Government of Pakistan is working on securing two foreign loans totaling $3.3 billion from Chinese financial institutions, aimed at...

Next Post
Crypto Exchange BitGet Starts $100M Asia-Focused Web3 Fund

Crypto Exchange BitGet Starts $100M Asia-Focused Web3 Fund

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters