Category: Currency

The Pakistani rupee saw a marginal uptick against the US dollar in the inter-bank market on Monday, appreciating by 0.06%. Closing at 279.2 against the greenback, the local currency gained Re0.16 according to the State Bank of Pakistan (SBP). Last week, the rupee remained steady at 279.36 against the dollar, maintaining the same rate as…

Johannesburg: The South African rand held steady in early trading on Monday, with little movement ahead of anticipated U.S. inflation figures slated for release later this week. These data points are expected to provide insights into the Federal Reserve’s future monetary policy decisions. As of 0630 GMT, the rand was trading at 18.4200 against the…

In Friday’s trading session, the Pakistani rupee demonstrated a mostly stable performance against the US dollar, showing a marginal appreciation of 0.01% in the inter-bank market. Closing figures from the State Bank of Pakistan (SBP) indicated the local currency settling at 278.74 against the greenback, marking a slight increase of Re0.03. This followed a similar…

The State Bank of Pakistan (SBP) has firmly dismissed recent news reports suggesting the issuance of polymer (plastic) banknotes, categorically labeling them as baseless and lacking any substantiation. Responding to mounting speculation, the central bank emphasized that there are no ongoing considerations or proposals regarding a transition from paper to polymer banknotes. Contrary to rumors,…

Yuan Inches Lower Against Dollar Amidst Awaited U.S. Inflation Report In Shanghai, China’s yuan demonstrated a slight dip against the dollar on Tuesday, as investors anticipated a pivotal U.S. inflation report alongside a series of domestic economic indicators, poised to shed light on the monetary policy trajectories of the world’s leading economies. The widening interest…

Wednesday saw a slight dip in the rupee, settling at 278.40 against the US dollar as per the SBP. An IMF official highlighted that despite Pakistan’s efforts to control inflation through monetary policy tightening in recent years, there’s still more to be done on both demand and supply fronts. Internationally, the US dollar softened as…

Currency Outlook: Trends Across African Markets Kenya In the upcoming week, Kenya’s shilling is anticipated to continue its upward trajectory against the dollar. This surge is bolstered by robust inflows of hard currency from the agricultural sector, coupled with subdued demand from fuel importers and manufacturers. Current rates stand at 130.50/131.50 per dollar, exhibiting a…

The Dollar Recovers Slightly After Recent Declines The dollar found itself in a weakened position on Wednesday following significant losses against the euro and sterling. Meanwhile, the yen remained near 34-year lows, despite increased warnings from Japanese officials about potential intervention. The dollar’s overnight losses were driven by strong European economic data and a cooling…

The pound maintained its position against the dollar and saw a slight uptick against the euro on Monday, following a dip to its lowest level since November last week. Investor sentiment towards the pound has become more balanced, with a neutral stance prevailing, according to recent weekly data from the U.S. markets regulator. At 0757…

The Pakistani rupee demonstrated stability in the inter-bank market, with a slight appreciation of 0.01% against the US dollar observed on Wednesday. Closing at 278.10 against the greenback, the local currency registered a marginal gain of Re0.02, according to the State Bank of Pakistan (SBP). A notable development in the financial landscape came from Federal…