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In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in ...
During his term from 1998 to 1999, Ishaq Dar's policies led to economic challenges for Pakistan. [7] Following nuclear tests, the government seized $11 billion from local dollar accounts of Pakistani citizens, after the currency was devalued by 25 percent in the open market compared to the official exchange rate. [8]
The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's export competitiveness.
Sixteen Pakistan Army soldiers are killed and five others are critically injured when Pakistani Taliban militants launch an overnight raid on an army post in Makeen, Khyber Pakhtunkhwa, Pakistan. Red Sea crisis. Sixteen people are injured in a Houthi missile attack on the Tel Aviv-Jaffa area in Israel. Business and economy
Sixteen Pakistan Army soldiers are killed and five others are critically injured when Pakistani Taliban militants launch an overnight raid on an army post in Makeen, Khyber Pakhtunkhwa, Pakistan. Red Sea crisis. Sixteen people are injured in a Houthi missile attack on the Tel Aviv-Jaffa area in Israel. Business and economy
The 2024 Azad Kashmir protests were a series of six day long protests, sit-ins, shutter-downs, demonstrations and wheel-jam strikes starting on 8 May against the Federal Government of Pakistan and the Government of Azad Kashmir, calling for lower prices for wheat, flour, and electricity, in addition to other demands.
Pakistan's Foreign Ministry on Saturday dismissed as unfounded and "devoid of rationality" assertions by a senior U.S. official that its missile programme could eventually pose a threat to the ...
The Pakistani rupee depreciated against the United States dollar until the turn of the century when Pakistan's large current account surplus pushed the value of the rupee up against the dollar. The State Bank of Pakistan then stabilized the exchange rate by lowering interest rates and buying dollars, to preserve the country's export ...