Seoul, March 26 (IANS) Market interest rates could face significant upward pressure if the conflict in the Middle East persists amid rising inflationary pressures and growing concerns about global monetary tightening, the central bank said on Thursday.The Bank of Korea (BOK) issued the warning in its latest financial stability report, as U.S.-Israeli strikes on Iran that began late last month have escalated into a broader regional conflict, reports Yonhap news agency.”If tensions in the Middle E…
Latest Foreign exchange News & Updates
New Delhi, Feb 2 (IANS) The Pakistan government has become addicted to IMF borrowing much like a drug addict and refuses to extricate itself from the self-made problem of creating cycles of foreign exchange shortages and bare sufficiency with IMF loans, according to a new report.These are accompanied by fiscal profligacy as seen in the government’s inability to contain needless expenditures and raise sufficient revenues to keep its debt at sustainable levels, according to an article by former …
New Delhi, Jan 23 (IANS) Pakistan’s exports plummeted by 20.4 per cent in December 2025, marking the fifth consecutive monthly decline that reflects the deep-rooted economic crisis plaguing the country, according to official figures.Exports contracted to approximately $2.32 billion from nearly $2.91 billion in December 2024. Imports, on the other hand, continued to expand, rising by about 2 per cent to $6.02 billion, pushing the monthly trade deficit up by nearly 24 per cent to $3.7 billion, a…
Seoul, Dec 31 (IANS) The local currency posted its weakest annual average against the US dollar ever this year, data showed on Wednesday, amid political turmoil and increased overseas stock investments by local investors.The won averaged 1,422.16 won against the greenback in onshore trading in 2025, the lowest level on record, according to market data, reports Yonhap news agency.The previous record yearly low of 1,398.39 won was set in 1998, when South Korea was hit by the Asian financial crisis…
New Delhi, Dec 25 (IANS) The International Monetary Fund (IMF) has asked the Pakistan government to reduce its spending on incentives given for foreign remittances, a move that has raised concerns among experts about a possible shift of money flows back to informal channels. According to a report by Nikkei Asia, analysts fear that cutting these incentives could weaken official banking routes and push more remittances towards backstreet networks such as hawala and hundi.The IMF’s recommendation…
Seoul, Dec 24 (IANS) The finance ministry here on Wednesday announced a package of tax benefits aimed at revitalising the domestic capital market, including a new incentive program for retail investors who sell overseas stocks and reinvest the proceeds in domestic assets.The latest steps come as part of a series of measures by foreign exchange authorities amid continued net capital outflows by domestic investors, with the Korean won nearing its weakest level against the U.S. dollar in 16 years, …