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Results for “Rupee” (87)

Hafsa Mustafa Posted in World

India's economic woes worsen as US tariff hike bites

The Indian rupee tumbled to a historic low on Friday, falling past the 88-per-dollar mark for the first time, as investors cited concerns over the impact of punitive US tariffs on Indian goods. Washington this week imposed an additional 25 percent tariff on Indian exports, doubling the total duties faced by India to 50 percent. The rupee slid to 88.29 against the US dollar, surpassing its previous all-time low of 87.95 hit in February. Following the Reserve Bank of India (RBI) intervention in the currency market, the rupee partially rebounded… Read More…

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Hafsa Mustafa Posted in Uncategorized

Madrasa students return 20-tola gold found in Swat floods

Students of a local madrasa set an example of honesty after returning 20-tola gold, worth millions of rupees, to its rightful owner during relief work in flood-hit Swat, Khyber Pakhtunkhwa. A video of the event, which went viral online, shows mud-covered students recovering gold ornaments from a flooded home. Their act of honesty drew widespread praise from netizens. The students discovered the jewellery while clearing debris and mud in the aftermath of devastating floods that damaged homes and caused heavy financial losses. Read More…

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Hafsa Mustafa Posted in Business

Trump tariffs rattle India’s markets, cloud growth outlook

India’s rupee plunged toward a record low and equity indexes declined on Thursday after U.S. President Donald Trump slapped steeper-than-expected tariffs on Indian goods, with analysts warning of sustained pressure on the country’s growth. The 25% tariffs announced could shave off the South Asian nation’s growth in 2025-26 by up to 40 basis points, with the threat of additional penalties further clouding the outlook, economists said. Read More…

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Hafsa Mustafa Posted in World

India signs $7.4 billion deal to buy 26 Rafale fighter jets

India signed a deal with France on Monday to buy 26 Rafale fighter aircraft worth 630 billion rupees ($7.4 billion) for its navy, the Indian defence ministry said in a statement. India will buy 22 single-seater and four twin-seater fighters, made by France’s Dassault Aviation, the ministry said, in a deal that would boost the Asian country’s defence ties with its second-largest arms supplier. “The delivery of these aircraft would be completed by 2030, with the crew undergoing training in France and India,” the ministry said, adding that the deal… Read More…

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Hafsa Mustafa Posted in Business

Pakistani rupee gains Rs 0.16 against US dollar

Pakistani rupee (PKR) on Friday continued its recovery and appreciated by Rs 0.16 against the US dollar in the interbank trading and closed at Rs 278.50 against the previous day’s closing of Rs278.66. As per the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.2 and Rs 280.4 respectively. The price of Euro came down by Rs 0.20 to close at Rs 300.82 against the last day’s closing of Rs 301.02, according to the State Bank of Pakistan… Read More…

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Hafsa Mustafa Posted in Uncategorized

Million rupees issued for rain-hit victims in Khyber Pakhtunkhwa

Provincial Disaster Management Authority (PDMA) Khyber Pakhtunkhwa (KP) released Rs.39 million among the legal heirs of the people who died during the recent torrential rains in the province. As per details, the PDMA Khyber Pakhtunkhwa on directives of Chief Minister Ali Amin Gandapur distributed cheques among families of the deceased. Financial assistance was provided to the affected families of Abbottabad, Mansehra, Swat, Charsadda, Miran, and other cities. Read More…

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Hafsa Mustafa Posted in Business

Rupee continues to recover against USD

The Rupee on Wednesday gained 07 paisa against the US dollar in the interbank trading and closed at Rs.279.49 against the previous day’s closing of Rs.279.56. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs.279.75 and Rs.282.3, respectively. Read More…

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Hafsa Mustafa Posted in Business

Rupee slides against US dollar in interbank

The Pakistani rupee experienced slight depreciation against the US dollar, weakening by 0.15% in the interbank market on Wednesday. According to the State Bank of Pakistan (SBP), the rupee settled at 279.88, marking a decrease of Rs.0.45 n the interbank market. In the open market, the PKR was being sold at Rs.281.50 against the greenback. Read More…

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Alina Hashmi Posted in Business

PKR to become top-performing currency this month: Bloomberg

The Pakistani rupee was on track to become the top performer globally in September as the caretaker govt continued its crackdown on illegal dollar trade, Bloomberg reported. The local currency rose around 6% this month against the dollar — an amazing feat despite the Thai baht and South Korean won tumbling against the greenback. The rupee increased 0.1% to 287.95 per dollar on Thursday, after sliding to a record low of about 307 this month. Read More…

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