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Rupee inches upward against USD in Morning Trade – SUCH TV

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Rupee inches upward against USD in Morning Trade – SUCH TV



The Pakistani rupee (PKR) showed a slight improvement against the US dollar (USD) on Monday, gaining 0.07 percent in the opening hours of trading in the inter-bank market. In the morning, the PKR was hovering at 280.43, up by 19 paisa against the greenback.

The slight gain came as international markets remained cautious. The USD traded steadily, while intervention concerns weighed on the Japanese yen. In Asia, a holiday in Tokyo led to lighter trade and the yen drifted lower to 156.71 per dollar in early trading.

Japan’s currency has been under pressure due to low interest rates and loose fiscal policies, although it rebounded from ten-month lows last week after Finance Minister Satsuki Katayama issued verbal warnings of potential official yen buying.

Traders expect intervention could occur between 158 and 162 yen per dollar, with the thinner trading ahead of Thanksgiving providing a possible window for action.

NBP releases foreign exchange rates for today

Domestically, the National Bank of Pakistan’s treasury management division issued its routine forex rates to guide market participants. The USD was set at Rs280.50 for buying and Rs281.00 for selling. The euro traded slightly higher at Rs323.12 to buy and Rs323.69 to sell, while the British pound was available at Rs367.51 to buy and Rs368.17 to sell. The Japanese yen was valued at Rs1.7911 to buy and Rs1.7942 to sell, with other major currencies including the Swiss franc, Canadian dollar, Australian dollar, New Zealand dollar, and Chinese yuan showing minor variations in their rates.

Previous PKR closing

On Friday, the rupee had gained 2.89 paisa against the US dollar, closing the interbank session at Rs280.62, slightly stronger than the previous close of Rs280.65.

The currency touched an intraday high of 280.8 and a low of 281.65 during the session. In the current fiscal year, the Pakistani rupee has strengthened against the US dollar by Rs3.14, or 1.12 percent, though it has weakened by Rs2.07, or 0.74 percent, so far this calendar year.

 



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Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV

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Govt keeps petrol, diesel prices unchanged for coming fortnight – SUCH TV



The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.

This decision was notified in a press release issued by the Petroleum Division.

Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.

Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.

Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.

The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.

 



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Serial rail fare evader faces jail over 112 unpaid tickets

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Serial rail fare evader faces jail over 112 unpaid tickets


One of Britain’s most prolific rail fare dodgers could face jail after admitting dozens of travel offences.

Charles Brohiri, 29, pleaded guilty to travelling without buying a ticket a total of 112 times over a two-year period, Westminster Magistrates’ Court heard.

He could be ordered to pay more than £18,000 in unpaid fares and legal costs, the court was told.

He will be sentenced next month.

District Judge Nina Tempia warned Brohiri “could face a custodial sentence because of the number of offences he has committed”.

He pleaded guilty to 76 offences on Thursday.

It came after he was convicted in his absence of 36 charges at a previous hearing.

During Thursday’s hearing, Judge Tempia dismissed a bid by Brohiri’s lawyers to have the 36 convictions overturned.

They had argued the prosecutions were unlawful because they had not been brought by a qualified legal professional.

But Judge Tempia rejected the argument, saying there had been “no abuse of this court’s process”.



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JSW Likely To Launch Jetour T2 SUV In India This Year: Reports

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JSW Likely To Launch Jetour T2 SUV In India This Year: Reports


JSW Jetour T2 Launch: JSW Motors Limited, the passenger vehicle arm of the JSW Group, is reportedly preparing to enter the Indian car market this year. It has partnered with Jetour, a China-based automotive brand owned by Chery Automobile, and the Jetour T2 SUV could be the company’s first product, according to the reports.

Media reports suggest that the launch will happen independently and not under the JSW MG Motor India joint venture. The SUV will wear a JSW badge and name, instead of the Jetour branding. The upcoming SUV will be assembled at JSW’s upcoming greenfield manufacturing facility in Chhatrapati Sambhaji Nagar, Maharashtra. 

According to the reports, the company plans to have the vehicle on sale by the third quarter of this year. With this move, JSW aims to establish itself as a standalone carmaker in India.

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Expected Powertrain

The SUV is likely to arrive with a 1.5-litre plug-in hybrid setup. Internationally, this hybrid powertrain is offered with both front-wheel drive and all-wheel drive options. It is still unclear which version will be introduced in India.

Design

In terms of design, the T2 is a large and rugged-looking SUV. It has a boxy and upright stance, similar to vehicles like the Land Rover Defender. Despite its tough appearance, it uses a monocoque chassis instead of a ladder-frame construction. 

Size

The SUV measures around 4.7 metres in length and nearly 2 metres in width. This makes it larger than the Tata Safari, even though it is a five-seater. A longer 7-seat version is also sold in some markets.

Price

Pricing details for India are yet to be announced. For reference, the front-wheel-drive five-seat T2 i-DM is priced at AED 1,44,000 (around Rs 35 lakh) in the UAE.

Jetour

Jetour is a brand owned by Chinese automaker Chery. Launched in 2018, it focuses mainly on SUVs and is present in markets across China, the Middle East, Africa, Southeast Asia and Latin America.



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