Monday, October 26, 2026 · Petrol Rs 377.71 · USD/PKR 277.05 · Gold Rs 424536/tola
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Articles for tag: American dollar, bitcoin, Bitcoin Purchase Program, Bitcoin stock, buyback, Cynthia Lummis, economic innovation, Inflation, million, program, propose, senator, US Senator

July 28, 2024

News Desk

US Senator to Propose 1 Million Bitcoin Buyback Program

A US senator said on Saturday that she will soon introduce legislation to implement a “1 million unit Bitcoin purchase program” for a specified period. Cynthia Lummis’ proposal aims to “supercharge the U.S. dollar” by creating a strategic Bitcoin reserve to bolster the dollar against rising inflation and “establish U.S. leadership in the rapidly evolving global financial system,” according to a statement. While the amount is worth more than $68 billion at Bitcoin’s current price, the program will seek to acquire a total share of around 5% of the total Bitcoin supply, reflecting the size of the gold reserves held

March 6, 2024

News Desk

Rupee remains within the 279-280/$ band

KARACHI: The Pakistani currency continued to depreciate for the third consecutive business day on Tuesday as it touched Rs 279.31 against the US dollar in the interbank market. According to State Bank of Pakistan (SBP) data, the rupee depreciated by 0.02%, or Rs 0.05, against the dollar on a daily basis. Market talk suggested that exporters were charging a higher premium on selling in US dollar futures, which put the rupee under some pressure. Otherwise, there was an ample supply of foreign exchange in the domestic market. More importantly, the rupee has recovered 10%, or Rs28, in the past five-and-a-half

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