The Pakistani rupee strengthened against the US dollar, appreciating 0.06% during the opening hours of trading in the inter-bank market on Tuesday. At 10:15am, the local currency was hovering at 280.90, up by Re0.17 against the US dollar. According to the State Bank of Pakistan (SBP), the local unit closed at 281.07 on Monday. Globally, the Japanese yen held steady on Tuesday, ahead of a
Bullish momentum dominated the Pakistan Stock Exchange (PSX) amid ease in tensions between Pakistan and Afghanistan, with the benchmark KSE-100 Index settling with a gain of over 2,400 points on Monday. Driven by renewed investor confidence, the KSE-100 Index hit an intra-day high of 166,421.33. At close, the benchmark index settled at 166,242.90, an increase of 2,436.69 points or 1.49%.
In a strategic move, Thatta Cement Company Limited (THCCL) announced that its wholly owned subsidiary, Minsk Work Tractor & Assembling (Private) Limited, has signed an exclusive agreement with Belarus-based OJSC Minsk Tractor Works to assemble and locally produce Belarus tractors in Balochistan, Pakistan. The listed cement-maker said in a development to the Pakistan Stock Exchange (PSX) on Mond
The Pakistani rupee strengthened against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Monday. At 10:20am, the local currency was hovering at 280.90, up by Re0.2 against the US dollar. During the previous week, the Pakistan rupee gained Re0.07 or 0.02% against the US dollar in the inter-bank market. The local unit closed at 281.10, against
The State Bank of Pakistan (SBP) has partnered with the World Bank Group, through its private sector arm, the International Finance Corporation (IFC), to expand local currency financing and support private sector growth in Pakistan. Through an International Swaps and Derivatives Association (ISDA) agreement, the partnership will enable IFC to manage currency risks more effectively and increase