Dec 2

Stock market gains sharply on Moody’s positive rating

KARACHI: The stock exchange has registered significant gain of 837 points on Monday on upgrade of credit rating of Pakistan to stable from negative. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,124 points as against 39,287 points showing an increase of 837 points. Analysts at Arif Habib Limited said that the […]

by Anjum Shah

Rupee ends down by five paisas on import, corporate payments

Dec 2

Money & Banking

Rupee ends down by five paisas on import, corporate payments

KARACHI: The Pak Rupee ended down by five paisas against dollar on Monday owing to high demand for import and corporate payments. The rupee closed at Rs155.29 to the dollar from last Friday’s closing of Rs155.24 in interbank foreign exchange market. Currency experts said that the market was initiated after two weekly holidays which escalated […]

by Anjum Shah

Moody’s changes Pakistan’s rating to stable from negative

Dec 2

Finance

Moody’s changes Pakistan’s rating to stable from negative

SINGAPORE: Moody’s Investors Service on Monday affirmed Pakistan’s outlook rating to stable from negative. In a statement the Moody’s said that the change in outlook to stable is driven by Moody’s expectations that the balance of payments dynamics will continue to improve, supported by policy adjustments and currency flexibility. Such developments reduce external vulnerability risks, […]

by Anjum Shah

Limits of US Dollars taking out of Pakistan

Dec 2

Money & Banking

Limits of US Dollars taking out of Pakistan

KARACHI: State Bank of Pakistan (SBP) has categorized age limits for taking out of Pakistan US Dollars or equivalent amount of foreign exchange. According to updated foreign exchange manual the SBP granted general permission to any person to take out of Pakistan US Dollars or equivalent thereof in other foreign currencies as per the following […]

by Anjum Shah