Pakistan’s central bank, State Bank of Pakistan (SBP), has announced its decision to maintain the interest rate at 10.50% for the next three months. This decision was made at the bank’s monetary policy committee meeting, where the committee considered various factors before arriving at the decision.
According to the announcement, the price of gold will continue to be set on the first day of every month. The price of gold per tola has increased by Rs. 3700, and the price per ounce has reached $8019. The global market rate of gold has decreased by $394 to $8019 per ounce.
In other economic news, the Sensex in India has increased by 0.4% to 77,897 points. The 100 index closed at 1,56,177 points on the last day of trading. The global market rate of oil has decreased, and the price of Brent crude oil has reached $117 per barrel.
The increasing price of jet fuel has led to an increase in airfare, and airlines have increased their prices accordingly. The Nikkei index in Japan has increased by 2.15% to 53,863 points.
The State Bank of Pakistan’s announcement also mentioned that the economic indicators have shown a stable trend since the January meeting. The market leader, Ali Hyder, said that the retail price of LPG has increased from Rs. 250 to Rs. 320-350 per kilogram.
Meanwhile, the global market rate of gold has decreased by $65 to $5,106 per ounce. The conflict in the Middle East has led to a volatile situation in Asian stock markets. In other news, the minimum fare of a bus in Quaid-e-Azam City has been increased from Rs. 30 to Rs. 50.
The US President, Donald Trump, said that he would end the war with Iran when he wants to, and the conflict would come to an end. The National Database and Registration Authority (NADRA) has taken steps to improve the accuracy and security of the national identity system.
In international news, Spain has recalled its ambassador to Israel. The Pakistani cricket team’s captain, Shahid Afridi, said that a target of 270-280 runs would be a good target on this wicket.
In a separate development, Iran has claimed that it has launched missile and drone attacks on Israel and US military bases in the Middle East. The attacks, which have been carried out in 37 waves, have targeted over 3,133 locations in the Gulf region, including 783 missile attacks and 2,350 drone strikes.
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