Pakistani rupee at record low at 87.47

Pakistani rupee at record low at 87.47

KARACHI: The Pakistani rupee hit a record low on Monday, hit by increased payments for imports and gloomy sentiment surrounding the country's economy, with dealers expecting the currency to weaken further in coming days.

Comments

Post a Comment

Popular posts from this blog

Bank Alfalah Islamic Banking Business net assets surge by 22.23pct

Image
By Riffat Mughal KARACHI: Bank Alfalah Limited Pakistan (BAFL) Islamic banking business net assets surged by 22.23 percent during nine months of the calendar year 2011 (9MCY11). The net assets of the bank have reached Rs 5,888.209 million as on September 30, 2011 as against to Rs 4,817.195 million as on December 31, 2011. Bank’s advances declined during the period by 10.44 percent to Rs 23,247.294 million. Bank Alfalah Islamic banking business net investments increased by outstanding 44.97 percent to Rs 31,938.394 million and fixed assets climbed up by 2.38 percent to Rs 1,677.560 million during the period under review. Balances with and due from Financial Institutions (FIs) also went up by 19.87 percent to Rs 4,631.542 million. With the decline in demand for finance from sound and blue chip companies amid slow economic activity, the bank used the funds more towards investments. On liabilities side, total deposits and other accounts increased by 14.80 percen...
Read more

Industry Experts to Share Expertise at KL Conference on Islamic Wealth Management

Image
Industry Experts to Share Expertise at KL Conference on Islamic Wealth Management KUALA LUMPUR: Industry experts are set to share their wide spectrum of expertise at the upcoming Kuala Lumpur Conference on Islamic Wealth Management 2011. The two-day conference from Dec 20 is organized by Kuala Lumpur-based Alfalah Consulting, an international consulting and training provider specialized in the areas of Islamic finance, Islamic wealth management, business & management and professional development. The conference would explore key principles and avenues of Islamic wealth management, including Islamic wealth creation, accumulation, protection, distribution and purification in the wealth management cycle, the company said in a statement. It enables individuals, investors and corporations to learn and understand better about Islamic wealth management and financial planning from industry experts with a wide spectrum of expertise. The conference will be an excellent platform to gain knowl...
Read more