Gold extended its blistering rally on Wednesday, surging past the $5,200 mark for the first time, as the US dollar sank to a near four-year low amid growing investor unease over US economic prospects and currency policy. Read More: Gold price tumbles Rs1,500 in Pakistan Spot gold rose 1.1% to $5,243.58 per ounce by 0314 GMT, […]
US Dollar
Dollar faces pressure but remains dominant in global finance
The US dollar remains the world’s most influential currency despite facing turbulence from political uncertainty, shifting monetary trends and efforts by major economies to diversify away from it. Analysts argue that the present phase reflects diversification rather than rapid de-dollarisation, as the global financial system still overwhelmingly depends on the greenback. Read More: Rupee slightly […]
In Venezuela, price of US dollar up by 479% in a year
Venezuela, currently in the throes of an escalating crisis with the United States, closed the books a complicated year for its economy, with the official cost of buying a US dollar up 479 percent in the last 12 months, according to AFP. The gap between the official and black market rate is mounting as well, […]
Why gold prices are soaring to record highs?
Gold and other precious metals are surging to record highs as the year draws to a close, driven by a mix of geopolitical uncertainty, a weaker US dollar, strong industrial demand and tight supply, according to an AFP analysis. Gold and silver have traditionally been viewed as safe-haven assets, and demand has jumped sharply amid […]
Sterling hits 12-week high as dollar weak
The British pound climbed to its highest level in nearly three months against the US dollar on Tuesday, supported by signs of resilience in the UK economy and a broad weak of the greenback. Sterling rose 0.42% to $1.3517, its strongest level since October 1, extending gains from last week. Read More: Rupee gains three […]
Yen steadies as Japan signals readiness to intervene
The Japanese yen edged higher on Tuesday as broad U.S. dollar weakness combined with fresh warnings from Tokyo that it stands ready to act against excessive currency moves. The rebound offered brief relief after the yen hovered near multi-month lows against major peers. Read More: Japan approves massive stimulus to boost struggling economy Japanese officials delivered […]
Rupee gains 1 paisa against US Dollar
The Rupee on Thursday appreciated by 1 paisa against the US Dollar in interbank trading and closed at Rs280.45 compared to the previous day’s closing at Rs280.46. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the Dollar in the open market were recorded at Rs 281.4 and Rs 283.25, […]
Rupee gains 1 paisa against US Dollar
The Rupee on Wednesday appreciated by 01 paisa against the US Dollar in interbank trading and closed at Rs280.46 compared to the previous day’s closing at Rs280.47. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the Dollar in the open market were recorded at Rs 281.45 and Rs 283.5, […]
Rupee gains two paisa against dollar
The Rupee on Monday appreciated by 2 paisa against the US Dollar in interbank trading and closed at Rs 280.60 compared to the previous day’s closing of Rs 280.62. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the Dollar in the open market were recorded at Rs 281.5 and […]
Rupee gains three paisa against dollar
The Rupee on Friday appreciated by 3 paisa against the US Dollar in interbank trading and closed at Rs 280.62 compared to the previous day’s closing of Rs 280.65. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the Dollar in the open market were recorded at Rs 281.55 and […]