FeaturedCut-off yield for 3-month T-bills in Sept 6 auction was 24.49%, indicating an expected rate hike. But after the latest policy announcement, the cut-off yield went down to 22.78%
HeadlinesParticipation in the auction was huge as bids totaling Rs4.6 trillion were received.
EconomyDoes the central bank really expect inflation to decline significantly or has it accepted that rate hikes aren't effective?
EconomyRemittances in FY23 were down by $4.25 billion year-on-year. They have continued to decline in first two months of FY24. Are Pakistanis sending less money home?
EconomyThe central bank has given category B exchange companies and franchises a month to decide on an option and approach it for approval.
EconomyAs inflation remains elevated, the central bank may raise the policy rate by up to 150 basis points.
EconomyThe rupee closed at Rs 303.05 against the dollar in the interbank market, and was being sold as high as Rs 323 by exchange companies.
FeaturedThe Exchange aims to offer smaller investors a “hassle-free” way to invest in gold without ever worrying about physical storage
EconomyExchange companies association claims the dollar is selling at Rs 312 on the open market. Actual rate on open market hovering around Rs 315. Both rates indicate a gap with the interbank rate that fails to meet IMF criteria.
EconomyRupee expected to fall to fresh lows as imports rise and difference in interbank and open markets narrows
EconomyThe current account recorded a deficit of $0.81 billion in July compared to a surplus of $0.5bn in June
EconomyThe difference between the rates in interbank and open markets has narrowed to Rs 8.49, which is still higher than IMF's stipulation