The rand held steady against the euro at R19.63 and against the British pound at R22.70. The USD/ZAR ratio increased toward R17 due to a stronger US dollar.

Inflation pressures are expected to rise in April because of fuel price hikes. Retail sales growth slowed significantly to 1.6% year-on-year in February, indicating potential economic challenges ahead.

The South African Reserve Bank left interest rates at 6.75% in March, aiming to manage inflation while supporting economic stability. This decision reflects ongoing concerns about external economic pressures.

Key statistics:

• The rand weakened to R16.80 against the US dollar.
• Retail sales growth was reported at 1.6% year-on-year.
• International reserves held by the Bank of Namibia rose to N$51.8 billion at the end of March.

The rand remains susceptible to external pressures, particularly from energy markets and global sentiment shifts. Observers note that continued geopolitical tensions could further impact the rand’s performance.

The post South African Rand Weakens Against USD Amid Economic Pressures appeared first on 1News.

In April 2026, energy prices rose sharply due to the blockage of the Strait of Hormuz. The last time inflation exceeded 10 percent was in July 2024, when the Consumer Price Index (CPI) reached 11.1 percent.

Key statistics:

• Urban inflation stood at 11.11 percent compared to 10.56 percent in rural areas.
• Food inflation increased by 6.9 percent in urban areas and 7.3 percent in rural areas.
• Core inflation was recorded at 8 percent in urban areas and 8.5 percent in rural areas.

The State Bank of Pakistan responded by increasing its policy rate from 10.50 percent to 11.50 percent. This decision aligns with commitments made to the International Monetary Fund.

Prime Minister Shehbaz Sharif noted that the weekly oil import bill has jumped significantly, from $300 million to $800 million since the onset of the US-Israel war on February 28.

Dr. Ashfaq H. Khan stated that interest rates are a demand-side tool, effective when demand exceeds supply.

The Euro area annual inflation is expected to be 3.0 percent in April, an increase from 2.6 percent in March.

The post Inflation: Consumer in Pakistan surges to nearly 11 percent appeared first on 1News.

The State Bank of Pakistan (SBP) responded to this crisis by raising its key policy rate by 100 basis points to 11.5%. The SBP’s decision aims to protect reserves and prevent pressure on the rupee. The central bank acknowledges that inflation is expected to remain above its medium-term target range of 5-7% for much of the next fiscal year.

As a result of these developments, headline inflation rose to 7.3% in March 2026, with core inflation edging up to 7.8%. Prime Minister Shehbaz Sharif noted that the rising oil costs have complicated Pakistan’s macroeconomic outlook. He stated, “Our weekly pre-war oil bill was around $300 million, and today it is up to $800 million.” This dramatic increase underscores the severity of the situation.

The effects of this economic strain are widespread. Remittances play a crucial role in financing over 100% of Pakistan’s trade imbalance. However, recent events threaten this balance. Foreign exchange reserves have improved recently due to external financing inflows and debt rollovers, but uncertainties remain about their sustainability.

Experts warn that the ongoing Middle East conflict complicates efforts for economic recovery. The SBP governor described the rate hike as a “pre-emptive move” to contain second-round effects before they became entrenched. With rising inflation and increasing oil prices, Pakistan’s economy faces significant challenges ahead.

Pakistan has recently managed to pay back a $3.45 billion deposit to the UAE and received a $3 billion transfer from Saudi Arabia. These actions reflect ongoing efforts to stabilize foreign exchange reserves amid increasing pressure from external factors.

The situation remains precarious as officials continue to navigate these turbulent waters. Prime Minister Sharif mentioned that “the situation now appeared satisfactory,” but he also acknowledged that “with the war, our efforts of two years have witnessed a setback.” The path forward will require careful management of both domestic and international economic relations.

As inflation continues to rise and geopolitical tensions persist, Pakistan faces an uncertain economic future that will demand resilience and strategic planning.

The post Dawn of Economic Challenges in Pakistan appeared first on 1News.

The price of 10 grams of gold decreased by Rs172 to Rs414,747. Additionally, the price of 10 grams of 22 karat gold fell by Rs158 to Rs380,198. Internationally, the gold price also saw a minor decrease of $2, now sitting at $4,614 per ounce.

Key statistics:

• Gold price per tola: Rs483,762
• Price for 10 grams: Rs414,747
• Price for 10 grams of 22 karat: Rs380,198
• International gold price: $4,614 per ounce

Despite the drop in gold prices, silver prices increased. The price of silver per tola rose by Rs193 to Rs8,014. For 10 grams of silver, the price went up by Rs165 to Rs6,870.

Experts say fluctuations in the international market, along with changes in local demand and supply, are influencing gold prices, leading to the recent decline. Following an initial surge in gold purchases on Monday, prices dipped by over USD 350 before recovering due to disappointing US jobs data.

The State Bank of Pakistan has noted that gold prices are expected to remain volatile because of these geopolitical tensions. Future trends remain uncertain as local and global factors continue to affect pricing dynamics.

The post Gold Prices Decline in Pakistan Amid Geopolitical Tensions appeared first on 1News.

Key statistics:

• The previous petrol price was Rs366.58 per litre.
• The old price of high-speed diesel was Rs353.42 per litre.
• The government increased fuel prices again by Rs26.77 per litre on April 25, 2026.
• Pakistan’s oil import bill surged from $300 million to $800 million due to the conflict.
• The State Bank of Pakistan raised its key policy rate to 11.5 percent.

Fuel prices directly impact inflation and the cost of living in Pakistan. The country relies heavily on imported energy, making it vulnerable to global fuel price fluctuations. Aslam Ghauri criticized the government’s policies, stating, “The government’s flawed policies have imposed an economic war on the people.” Kaiser Bengali noted the dire situation, saying, “We are in a state of absolute dependency, where even a $1bn tranche can make the difference between survival and collapse.”

The recent increases come amid ongoing negotiations with the International Monetary Fund (IMF). The government seeks financial support to stabilize its economy, which faces significant challenges due to rising transport costs and inflation.

As Pakistan navigates this economic crisis, officials have not provided a clear timeline for potential relief measures or adjustments in fuel pricing. The situation remains fluid as both domestic and international factors continue to influence the country’s economic landscape.

The post Pakistan petrol prices appeared first on 1News.

The decision came during a meeting of the Monetary Policy Committee on April 27, 2026. The previous policy rate was maintained at 10.5% in March after a cut of 50 basis points in December 2025. The SBP emphasized the need for a balanced approach to safeguard price stability while nurturing sustainable growth recovery.

Inflationary pressures have been largely supply-driven, raising concerns among analysts. Arif Habib Limited warned that tightening monetary policy could risk a policy error. They noted, “Given the supply-driven nature of current inflationary pressures, responding with tightening risks a policy error.” Nonetheless, calls for tightening have gained traction, particularly around International Monetary Fund (IMF) considerations.

Despite these challenges, the economy showed signs of resilience, with a GDP expansion of 3.89% in Q2 and a current account surplus of $1.07 billion in March. Yet, energy prices continue to pose a significant risk to inflation levels.

The next MPC meeting is scheduled for June 2026 and will be closely monitored for potential further policy changes. Observers expect that ongoing economic indicators will heavily influence future monetary policy decisions.

The post Monetary policy: State Bank of Pakistan Raises Interest Rates Amid Inflation Concerns appeared first on 1News.

On April 19, a significant cultural event took place. The Zimbabwe Bird sculpture returned to the nation after being looted for 137 years during the colonial era. President Emmerson Mnangagwa hailed this event as ‘the return of a national icon.’ The Zimbabwe Birds are archaeological treasures that originated from Great Zimbabwe, built between the 11th and 15th centuries.

The return of the Zimbabwe Bird is more than just a cultural restoration; it symbolizes a reclamation of national identity. The artifact was originally removed in 1889 by Willi Posselt, a European hunter, and sold to Cecil Rhodes. This act reflects a long history of colonial exploitation that many nations continue to confront.

Yet, alongside these cultural advancements, technological innovations are also reshaping healthcare in Zimbabwe. A new drone-powered medical logistics system was launched to transport medical supplies within under 30 minutes. This initiative targets rural communities with poor road infrastructure, aiming to improve healthcare delivery during the rainy season when flooding often disrupts transport.

The drone logistics initiative is expected to create about 200 jobs for locals—an important boost for employment in a country where job opportunities can be scarce. Deliveries that used to take hours by road can now be completed in less than half an hour. This change not only enhances efficiency but also saves lives.

These developments matter significantly for Zimbabweans. The drop in inflation could signal economic recovery, although uncertainties remain about its sustainability. Details remain unconfirmed regarding whether this trend will continue or if it is merely a temporary reprieve from previous economic challenges.

As these events unfold, they highlight a turning point for Zimbabwe—both culturally and economically. The return of the Zimbabwe Bird and advancements in healthcare technology represent steps toward healing historical wounds while addressing current needs.

The post Zimbabwe Sees Historic Changes in 2026 appeared first on 1News.

The immediate circumstances surrounding this price hike reveal that approximately 46% of the petrol price comprises taxes and profits. The ex-refinery price of petrol stands at ₹247.15 per litre, indicating the substantial markup that consumers face at the pump. This increase in petrol prices is not isolated; the consumer price of diesel has also surged, now costing ₹520.35 per litre, with an ex-refinery price of ₹461.23 per litre.

Breaking down the components of the petrol price, the tax structure includes a Petroleum Levy of ₹160.61, Customs Duty of ₹24.12, Climate Support Levy of ₹2.50, Inland Freight Margin of ₹7.52, OMCs Profit of ₹7.87, and Dealers’ Commission of ₹8.64. These figures illustrate how heavily taxed fuel is in Pakistan, contributing to the overall consumer burden.

The recent increases in fuel prices are striking, with petrol rising by ₹137.23 per litre and diesel by ₹184.49 per litre. This represents an increase of nearly 18% for petrol and over 50% for high-speed diesel in April alone. Such drastic changes in fuel costs are expected to have a ripple effect on the economy, particularly as Pakistan’s inflation is projected to accelerate to between 11% and 11.5% year-on-year this month.

These price hikes are largely attributed to ongoing tensions in the Middle East, which have affected global oil supply and pricing. As a result, consumers in Pakistan are facing increased costs not only at the fuel pump but also in the prices of goods and services that rely on transportation.

Reactions to the fuel price increase have been mixed, with many consumers expressing frustration over the rising costs. Officials have yet to provide detailed comments on the long-term implications of these price changes, but the economic strain is palpable among the populace.

As the situation develops, it remains to be seen how the government will respond to these challenges and whether any measures will be taken to alleviate the financial burden on consumers. Details remain unconfirmed regarding potential policy changes or subsidies that could be introduced in light of the escalating fuel prices.

The post Petrol Price Today in Pakistan: April 2026 Update appeared first on 1News.

However, a decisive moment occurred in April 2026, as inflation is projected to accelerate to between 11 percent and 11.5 percent year-on-year. This surge is largely attributed to significant increases in fuel prices, with petrol rising nearly 18 percent and high-speed diesel experiencing a staggering increase of more than 50 percent. These developments have heightened concerns among the Pakistani populace regarding the cost of living and economic stability.

Despite these economic challenges, Pakistan has recently made headlines for its diplomatic role in the region. The Islamabad talks, which involved direct discussions between senior officials from the United States and Iran, marked the first high-level face-to-face engagement between the two nations since 1979. Pakistan’s involvement in facilitating these talks has been recognized as a significant diplomatic achievement, enhancing its image as a credible intermediary in international relations.

Caitlin Doornbos, a prominent journalist, highlighted the warmth and hospitality of the Pakistani people during her visit, noting, “Breakfast so far is my favorite! The hospitality of Pakistanis is so warm — more welcoming than I believe I’ve ever experienced.” This sentiment reflects a positive aspect of Pakistan’s cultural identity, even amidst economic turmoil.

The direct engagement between the US and Iran, enabled by Pakistan, has been described as a breakthrough in restoring a long-dormant diplomatic channel. An anonymous expert remarked, “The first breakthrough is not always a signed deal; sometimes it is simply getting both sides to sit down in the same room and begin speaking again.” This perspective underscores the importance of dialogue in international relations, particularly in a region fraught with tension.

As Pakistan navigates its economic difficulties, the diplomatic success achieved through the Islamabad talks could provide a platform for enhancing its geopolitical standing. By enabling direct engagement after nearly five decades of estrangement, Islamabad has helped restore a diplomatic channel that had long been dormant. This shift may have implications for Pakistan’s foreign policy and its role in regional stability.

In summary, while Pakistan grapples with rising inflation and fuel prices, its recent diplomatic achievements signal a potential shift in its international relations landscape. The recognition of Pakistan’s role in the US-Iran talks may offer opportunities for the country to bolster its economic and political standing in the region.

The post Pakistan’s Economic Challenges Amid Diplomatic Breakthroughs appeared first on 1News.

The Iran war has triggered significant shocks to energy supply and the global economy. In a recent statement, the International Monetary Fund (IMF) warned that the ongoing conflict is likely to lead to higher inflation and weaker growth worldwide. Kristalina Georgieva, the IMF’s Managing Director, emphasized that “All roads now lead to higher prices and slower growth.”

Prior to the onset of the Iran war, the IMF had projected global growth of 3.3% for 2026 and 3.2% for 2027. However, these forecasts are now under threat as the conflict continues to disrupt energy supplies. The IMF noted that global oil supply has reduced by 13%, further exacerbating the situation.

The economic ramifications are not limited to oil prices alone. Georgieva pointed out that “These risks have come to the fore in the context of the war in the Middle East.” The IMF’s analysis indicates that even if the conflict were to cease immediately, the lingering negative impacts would still affect the global economy. Georgieva stated, “Even if the war is to stop today, there would be a lingering negative impact to the rest of the world.”

In addition to the immediate effects of the war, the IMF highlighted trends in emerging markets. Portfolio inflows to these markets have increased eightfold since the 2008 global financial crisis, with cumulative inflows approaching $4 trillion in 2025. However, portfolio debt liabilities in emerging markets have also risen, averaging about 15% of GDP, up from 9% in 2006.

Nonbank investors now account for roughly 80% of capital inflows to emerging markets, indicating a shift in investment patterns. The IMF warns that a one-standard-deviation rise in the CBOE Volatility Index is associated with portfolio debt outflows from emerging markets, averaging about 1% of quarterly GDP.

As the situation evolves, observers are closely monitoring the economic indicators and the potential for further disruptions. The IMF’s warnings serve as a crucial reminder of the interconnectedness of global economies and the far-reaching consequences of geopolitical conflicts.

The post International Monetary Fund (IMF) Issues Warning Amid Iran War appeared first on 1News.