The caretaker government and the International Monetary Fund (IMF) have reached a consensus on backup measures to activate by the year’s end if significant deviations from fiscal and monetary objectives threaten the broader aims of the ongoing $3 billion loan programme. Informed sources told Dawn that a visiting mission of the IMF and the Pakistani authorities would be concluding technical-leve
The frequent rupee depreciations against the US dollar amid a supply-demand mismatch is a serious concern for the International Monetary Fund (IMF), sources in the financial sector told Dawn on Thursday. The sources said that the continued devaluation of PKR has changed the view about the exchange rate stability which emerged in the wake of a crackdown launched in early September against the il
The bourse witnessed a tug of war as bullish and bearish forces battled to subdue each other on Tuesday. Topline Securities Ltd said trading started on a positive note as the momentum from a day ago propped up the benchmark index initially. However, investors chose to book profits, dragging the KSE-100 index down to the negative territory. The profit-taking ended the session on the lower sid
The rupee continued to depreciate against the dollar on Tuesday, losing another Rs1.1, or 0.38 per cent, in the interbank market. According to the State Bank of Pakistan, the dollar traded for Rs286.39 in the interbank at the day’s end. It had closed yesterday at Rs285.29. In the open market, the dollar was changing hands for Rs287.5 during the afternoon, according to the Exchange Companies
Oil prices fell more than three per cent on Tuesday to their lowest since late July, as mixed Chinese economic data and rising Opec exports eased fears about tight markets and as the dollar strengthened. Brent crude futures fell $2.95, or 3.5pc, to $82.23 a barrel as of 1:41 p.m. ET (1841 GMT). US West Texas Intermediate crude fell to $77.94 a barrel, down $2.88, or 3.6pc. Both contracts hit