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Will the dollar rate go further down in Pakistan?

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The dollar rate in Pakistan went down again today after the Pakistani rupee made a remarkable Rs9.8 or more than 4% recovery against the US dollar during Wednesday’s close in the interbank market.

Analysts expect the local unit to continue gaining ground if stability in the country continues.

In a major development, the dollar slumped by 4.19% against the rupee — the highest since November 2, 1998, when the greenback fell by Rs5.10.

Exchange Companies Association of Pakistan (ECAP) Chairman Malik Bostan, speaking on ‘Geo Pakistan‘, said that several factors have played a part in bridging the rupee-dollar parity.

Even today, the rupee continued to gain against the dollar during intraday trade in the interbank market.

Bostan said that apart from the reduction in import bills and army chief General Qamar Javed Bajwa’s telephonic conversation with US Deputy Secretary of State Wendy Sherman to help expedite the International Monetary Fund’s (IMF) loan programme revival, the money lender’s statement has played a key part in the dollar’s fall.

IMF’s Resident Representative for Pakistan Esther Perez Ruiz said in a statement Tuesday that a board meeting is tentatively scheduled for late August once adequate financing assurances are confirmed.

In case the IMF releases the $1.2 billion later in August, Bostan said the dollar could fall to 180-190 against the Pakistan rupee and will continue to break records.

“…this was the actual level of the dollar. Before the political instability in the country and the Punjab by-elections — which upset everything, including the markets — the dollar wasn’t at such highs,” he said.

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Robust activity lets PSX climb above 115,000 level again.

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On Friday, the Pakistan Stock Exchange (PSX) resumed its upward trend, crossing 115,000 points once more.

The PSX had strong action in the morning session, as the KSE-100 index increased by 1,000 points to 115,138.

The notoriously volatile PSX closed Thursday at 114,037 points, up 594 points.

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Meanwhile, in the interbank market this morning, the US dollar fell 7 paisas to Rs278.65 against the Pakistani rupee.

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SBP will announce monetary policy on January 27.

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The State Bank of Pakistan (SBP) will release its monetary policy on Monday.

The Monetary Policy Committee (MPC) of the SBP will convene on the first day of the following week to make decisions on monetary policy.

The Monetary Policy decision will be announced by Governor SBP Jameel Ahmad at a news conference on the same day after the MPC meeting, according to an official release.

In December, the central bank reduced policy rates by 200 basis points (bps) to 13 percent.

“In November 2024, headline inflation fell to 4.9 percent year on year, meeting the MPC’s estimates. This decrease was mostly caused by the ongoing decline in food inflation and the phasing out of the impact of the gas tariff increase in November 2023,” SBP stated in an official release.

“However, the Committee noted that core inflation, at 9.7 percent, is proving to be sticky, while consumer and business inflation expectations remain volatile.” To that end, the Committee restated its previous assessment that inflation may remain volatile in the short term before stabilizing within the target range.

“At the same time, growth prospects have slightly improved, as evidenced by a recent increase in high-frequency indicators of economic activity.” Overall, the Committee concluded that its approach of gradual policy rate decreases is keeping inflationary and external account pressures under control while promoting long-term economic growth.

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Finance Minister Meets With World Leaders at World Economic Forum in Davos

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During his attendance at the World Economic Forum in Davos, Switzerland, Finance Minister Muhammad Aurangzeb has met with officials of organisations and leaders of many nations.
Bangladesh’s Chief Advisor, Muhammad Younas, met with Mohammad Aurangzeb.
On the fringes of the World Economic Forum’s Annual Meeting 2025 Opening Banquet, there was an informal meeting.
Additionally, the Finance Minister met with Anwar Ibrahim, the Prime Minister of Malaysia.
Both leaders discussed economic cooperation and bilateral ties.
Muhammad Aurangzeb also had a meeting with Dp World’s Rizwan Soomro and Yuvraj Narayan.
They talked about how to strengthen Pakistan’s logistics and infrastructure systems to support trade.
“The Pakistani government is committed to advancing joint projects and values partnerships in both business-to-business and business-to-government cooperation,” the finance minister added.

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