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The international bullion market saw a rise in gold prices on Monday, with the price of gold per ounce increasing by $4 to reach $2,390. This uptick in global prices has led to a corresponding rise in local gold markets. In Pakistan, the price of 24-karat gold per tola rose by PKR 200, reaching PKR 252,700. The price of 10 …

On Monday, Fitch Ratings upgraded Pakistan’s long-term foreign currency issuer default rating (IDR) from CCC to CCC+. This upgrade reflects an improvement in Pakistan’s external liquidity and funding conditions, buoyed by recent agreements with the International Monetary Fund (IMF). Fitch highlighted the significant progress under the previous IMF arrangement, which helped Pakistan reduce its fiscal deficits and rebuild its foreign …

The State Bank of Pakistan (SBP) has announced a one percentage point reduction in its key interest rate, bringing it down to 19.5%. This decision was revealed by SBP Governor Jameel Ahmad during a media briefing following the recent monetary policy meeting. Ahmad attributed the rate cut to a gradual decrease in inflation and signs of economic recovery. The monetary …