• Download the Constitution of Pakistan
  • Advertise
Sunday, July 20, 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

Intra- day update: rupee inches upward against US dollar

by News Publishing
June 23, 2023
in Business
Reading Time: 2 mins read
0
Intra- day update: rupee inches upward against US dollar
Share on FacebookShare on TwitterLinkedinWhatsapp

The Pakistani rupee gained little against the US dollar, gaining about 0.08% in the early hours of Friday trade in the interbank market.

At roughly 11:55 a.m., the rupee was trading at 286.50, up Re0.23.

The rupee strengthened against the US dollar for the third consecutive session on Thursday, gaining 0.09% to close at 286.73.

In a significant development, Prime Minister Shehbaz Sharif met Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), on the sidelines of the Summit for a New Global Financial Pact, which was held in Paris on Thursday, in the hope that the lender will approve the funds allocated under the bailout.

The restart of the IMF programme, which is set to expire on June 30, is critical for the cash-strapped economy.

Separately, Pakistan’s total liquid foreign exchange reserves decreased by $515 million in the previous week, owing primarily to external debt service. However, Pakistan has received another $300 million inflow from China.

According to the State Bank of Pakistan (SBP), the country’s total liquid foreign exchange reserves were at $ 8.864 billion on June 16, 2023, down from $ 9.378 billion on June 6, 2023.

Internationally, the US dollar benefited from a bout of risk aversion on Friday, as hawkish comments from global central banks, including the Federal Reserve, fueled fears that rapid monetary tightening might force nations into a deeper recession.

The restart of the IMF programme, which is set to expire on June 30, is critical for the cash-strapped economy.

Separately, Pakistan’s total liquid foreign exchange reserves decreased by $515 million in the previous week, owing primarily to external debt service. However, Pakistan has received another $300 million inflow from China.

According to the State Bank of Pakistan (SBP), the country’s total liquid foreign exchange reserves were at $ 8.864 billion on June 16, 2023, down from $ 9.378 billion on June 6, 2023.

Internationally, the US dollar benefited from a bout of risk aversion on Friday, as hawkish comments from global central banks, including the Federal Reserve, fueled fears that rapid monetary tightening might force nations into a deeper recession.

Tags: latestRupeeUs 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
PM Shehbaz Sharif to leave for London today to meet Nawaz

PM Shehbaz Sharif to leave for London today to meet Nawaz

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