Pakistan Rupee Gains Vs US Dollar: Traders Plan to Short
Pakistan rupee gained esteem against US dollar but lost ground to the Euro Wednesday. Forex traders in Karachi Thursday plan to hold a short position on the US dollars with expectations that it will decline further. Buy rate for dollars in the interbank market today were Rs. 85.00 and sell rates were Rs.85.05. In both [...]
Pakistan rupee losing value
The Pakistani rupee continued to loose value Thursday and reached a record bottom for the fourth consecutive day because of high demand for dollars to pay for oil imports. Pakistani Forex dealers say they expect the currency to remain under pressure. The rupee PKR= was quoted closing at 84.86/96 to the dollar compared with Wednesdays close of [...]
Ibrahim Sajid Malick is a Pakistani-American writer, technologist, and social entrepreneur. He has been writing on Pakistani society and politics since 1986. He has held several media, communications, and technology positions for organizations large and small. Mr. Malick graduated from New School for Social Research with a master’s degree in anthropology. He holds several technology and management certifications. He works for a leading technology firm and blogs at www.ibrahimsajidmalick.com