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USD all way going up – dirty politics in Pakistan

1Feb

By Muhammad Dastageer ShamsNo Comments

Pakistan

USD all way going up – dirty politics in Pakistan

The Pakistani currency, the Pakistani Rupee (PKR), has been struggling in recent months. The US dollar (USD) is reaching new highs against the local currency due to dirty politics. The USD is rising due to a number of factors. These include factors such as economic instability, rising inflation, and geopolitical tensions. However, some experts have also pointed to the role of dirty politics in the country. They believe that dirty politics is also contributing to the weakening of the PKR. Political instability in Pakistan has long been a concern for investors. Many foreign companies are hesitant to invest in the country due to the perceived risks. Experts are criticizing the current government for its handling of the economy. However, some accuse the government of prioritizing short-te...

Dollar crunch disrupts the forex market in Pakistan

1Aug

By Muhammad Dastageer ShamsNo Comments

Latest

Dollar crunch disrupts the forex market in Pakistan

Dollar shortage in Pakistan has created a dislocation in the forex market, with banks offering different rates than inter bank institutions. Due to their inability to cover import payments, banks are offering higher spreads on import and export transactions than the inter bank market, Tresmark, a treasury market portal, said. To track this new rupee rate, the portal has launched a new ticker. A delay in the International Monetary Fund's bailout program has caused the South Asian nation to see a severe dollar shortage this year. Toyota and Suzuki's local units have also hit by a parts shortage due to a ban on imports to curb dollar outflows next month, resulting in multiple days of production stops. There was a sharp drop in the rupee's value as a result of the deteriorating external...

First time in 20 years, Euro and Dollar at parity

15Jul

By Muhammad Dastageer Shams1 Comment

Business

First time in 20 years, Euro and Dollar at parity

The exchange rate between the Euro and the US Dollar has reached parity for the first time in 20 years. Despite the drop in the euro since the beginning of the year, it hit $1 on Tuesday. As a result of Russia's invasion of Ukraine and high inflation, there is fear that the continent might be entering a recession. In an attempt to reduce its dependency on Russian oil and gas, the European Union, which received roughly 40% of its gas from Russian pipelines before the war, is seeking to reduce its dependence on these resources. Russia has also reduced gas supplies to some EU countries and recently cut the Nord Stream pipeline to Germany by 60%. Why did the euro drop? There are several key factors that have led to the Euro’s recent decline. First, the E.U.’s economy is slowing, a...

Pakistan and China are in talks to trade in Chinese currency

31May

By Aqsa Azam1 Comment

Business

Pakistan and China are in talks to trade in Chinese currency

China proposed to Pakistan to create RMB capital circulation system. It will help to increase trade and business in Chinese currency. Talks between SBP and Chinese authorities are ongoing. ISLAMABAD, PAKISTAN: China proposed a pilot plan to follow the RMB capital circulation system in Pakistan. The renminbi (RMB) capital circulation system will help both countries to conduct business and trade in Chinese currency. The involvement of third-party currency will be completely cancel from all transactions. It will help to control trade deficit and economic crises in the country. The government has urged the finance ministry and the central bank to look into the Chinese authorities’ requests and take action. Significant progress is expected to be made soon, and formal talks between the...