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Tag: Exchange Rate

Pakistan Revenue is committed to providing accurate exchange rate in Pak Rupee for foreign currencies, helping readers stay informed about the fluctuating value of the exchange rate in currency market.

  • Exchange rate determines by market forces: SBP

    Exchange rate determines by market forces: SBP

    KARACHI: State Bank of Pakistan (SBP) on Friday said that exchange rate has been determined by market forces on the basis of demand and supply.

    In a tweet message the central bank said that exchange rate is determined by market forces of demand and supply and is a reflection of existing BOP position. Forward exchange rates are determined by the existing spot rates and #Interest rate differentials of the relevant period i.e. time value of money.

    “Forward exchange rates (ER) are not a forecast of future exchange rates.”

    IMF Report on Pakistan includes ER assumptions which are not predictions. Under the IMF-supported program there is no agreed target level for exchange rate. The exchange rate is market determined, the SBP said.

    The IMF had earlier tweeted about the inclusion of exchange rate assumption in its published Staff Report on #Pakistan.

  • Pakistan’s exchange rate reflecting actual economic conditions: IMF

    Pakistan’s exchange rate reflecting actual economic conditions: IMF

    The International Monetary Fund (IMF) affirmed on Wednesday that Pakistan’s exchange rate now better reflects the actual economic conditions of the country.

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  • Important meeting on exchange rate situation to be held today

    Important meeting on exchange rate situation to be held today

    KARACHI: Dr. Abdul Hafeez Shaikh to chair an import meeting of a committee which will also be attended by members of exchange companies association today (Tuesday) to discuss the options for strengthening the local currency.

    Prime Minister Imran Khan had constituted the committee suggestions submitted by Exchange Companies Association of Pakistan (ECAP).

    The meeting will also be attended by officials of State Bank of Pakistan and other relevant authorities.

    Malik Bostan, Chairman, ECAP will lead a five – member team at the meeting.

    According to the ECAP chairman the association had submitted proposals for the strengthening the rupee value.

    Malik Bostan said that the proposals had focused on improving foreign exchange reserves of the country.

    He said that due to recent measures the local currency had strengthened by Rs3 against dollar during last few days.

    Malik Bostan urged people not to pay heed on the rumors about shortage of dollar. He said that the greenback would further weaken in coming days.

    He said that the exchange companies had given around $15 million to scheduled banks.

    He said that inflows were coming from overseas Pakistan on the occasion of Eid-ul-Fitr. “The overseas Pakistanis are sending around $3-4 million daily,” he said.

    Malik Bostan said that hopefully another $100 million would be given to scheduled bank by Eid-ul-Fitr.

  • Rupee ends unchanged for ninth consecutive trading day

    Rupee ends unchanged for ninth consecutive trading day

    KARACHI: The Pak Rupee ended without change against dollar for the ninth consecutive day on Thursday.

    The rupee ended Rs141.40 to the dollar, the same last day’s closing, in interbank foreign exchange market.

    The interbank foreign exchange market was initiated in the range of Rs141.39 and Rs141.40.

    The market recorded a high of Rs141.40 and low of Rs141.40 and closed at Rs141.40.

    Currency experts said that traders were cautious ahead of IMF meeting with Pakistan authorities scheduled for this week.

    The exchange rate in open market ended with losses of the local currency.

    The buying and selling of dollar was recorded at Rs141.70/Rs142.20 as compared with previous day’s closing of Rs141.50/Rs142.00 in cash ready market.

  • Rupee remains unchanged for eighth consecutive trading day

    Rupee remains unchanged for eighth consecutive trading day

    KARACHI: The Pak Rupee remained unchanged against dollar for eighth consecutive trading day on Wednesday amid lackluster demand for import and corporate payments.

    The rupee ended Rs141.40 to the dollar, the same last day’s closing, in interbank foreign exchange market.

    The interbank foreign exchange market was initiated in the range of Rs141.39 and Rs141.40.

    The market recorded day high of Rs141.40 and low of Rs141.39 and closed at Rs141.40.

    Currency experts said that the traders were cautious about purchasing dollars over uncertainty about the future of exchange rate.

    The exchange rate in open market ended with gain by the local currency.

    The buying and selling of dollar was recorded at Rs141.50/Rs142.00 as compared with previous day’s closing of Rs141.70/Rs142.20 in cash ready market.

  • Rupee remains unchanged for seventh straight trading day

    Rupee remains unchanged for seventh straight trading day

    KARACHI: The Pakistani Rupee (PKR) maintained its unaltered position against the US Dollar for the seventh consecutive trading day on Tuesday, reflecting a scenario of subdued demand for imports and corporate payments.

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  • Rupee remains unchanged for sixth straight trading day

    Rupee remains unchanged for sixth straight trading day

    KARACHI: The Pak Rupee remained unchanged against dollar for sixth straight trading day on Monday amid lackluster demand for import and corporate payments.

    The rupee ended Rs141.40 to the dollar, the same last Friday’s closing, in interbank foreign exchange market.

    The interbank foreign exchange market was initiated in the range of Rs141.39 and Rs141.40.

    The market recorded a high of Rs141.40 and low of Rs141.40 and closed at Rs141.40.

    Currency experts said that the traders were cautious about purchasing dollars over uncertainty about the future of exchange rate.

    The exchange rate in open market ended with gain by the local currency.

    The buying and selling of dollar was recorded at Rs141.80/Rs142.30 as compared with last Saturday’s closing of Rs142.00/Rs142.50 in cash ready market.

  • Rupee ends firmer against dollar

    Rupee ends firmer against dollar

    The Pakistani Rupee maintained its firm position against the US Dollar on Friday, driven by a lack of robust demand for imports and corporate payments.

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  • Rupee ends flat in interbank market

    Rupee ends flat in interbank market

    The Pakistani Rupee concluded Thursday’s trading session without significant changes against the US Dollar, maintaining a stable position despite initial gains.

    (more…)
  • Rupee makes gain against dollar

    Rupee makes gain against dollar

    KARACHI: The Pak Rupee made slight gain against dollar on Wednesday amid lower demand for import and corporate payments.

    The rupee ended Rs141.38 to the dollar from previous day’s closing of Rs141.39 in interbank foreign exchange market.

    The interbank foreign exchange market was initiated in the range of Rs141.39 and 141.40.

    The market recorded day high of Rs141.39 and low of Rs141.37 and closed at Rs141.38.

    In open market the exchange rate was ended with 20 paisas gain in rupee value.

    The buying and selling of dollar was recorded at Rs142.00/Rs142.50 in from previous day’s closing of Rs142.30/Rs142.70 in cash ready market.


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