Tag: Interbank Foreign Exchange Market

KARACHI: The Pak Rupee fell by five paisas against dollar on Thursday due to rise in demand for import payment.

The rupee ended Rs158.57 to the dollar from previous day’s closing of R$158.52 in interbank foreign exchange market.

Currency dealers said that rise in demand for import payment depreciated the local currency. They said that majority of dollar demand was for the payment of imported commodities related to holy month of Ramazan.

The exchange rate in open market was remained unchanged. The dollar buying and selling was recorded at Rs157.50/Rs158.50, the same previous day’s closing, in cash ready market.

KARACHI: The Pak Rupee ended down by 10 paisas against dollar on Wednesday due to higher import payment demand.

The rupee closed at Rs158.52 to the dollar from previous day’s closing of Rs158.42 in interbank foreign exchange market.

Currency dealers said that the rupee fell due to rise in demand for import payment.

They said that the importers were holding the dollar purchase on expectation of major cut in key policy rate.

The foreign currency market was initiated in the range of Rs158.10 and Rs158.40. The market recorded day high Rs158.85 and low of Rs158.40.

The exchange rate in open market was remained unchanged. The dollar buying and selling was recorded at Rs157.50/Rs158.50, the same previous day’s closing, in cash ready market.

KARACHI: The Pak Rupee fell by two paisas against dollar on Tuesday amid demand from importers and corporate buyers.

The rupee ended Rs158.43 to the dollar from previous day’s closing of Rs158.41 in interbank foreign exchange market.

Currency experts said that the rupee had fallen significantly earlier in the day owing to demand from importers and corporate buyers. However, the sharp decline in international oil prices improved the sentiments.

The experts said that falling international oil prices would help the country to reduce its import bill.

The foreign currency market was initiated in the range between Rs158.65 and Rs159.25. The market recorded day high of Rs159.05 and low of Rs158.40 and closed at Rs154.43.

The exchange rate in open market witnessed decline in rupee value. The buying and selling of dollar was recorded at Rs157.50/Rs158.50 from previous day’s closing of Rs157.00/Rs158.00.

KARACHI: The Pak Rupee gained 57 paisas against dollar on Monday owing to falling oil prices in international markets.

The rupee closed at Rs158.41 to the dollar from last Friday’s closing of Rs158.98 in interbank foreign exchange market.

Currency dealers said that the international oil prices were falling constantly due to ease in demand on coronavirus threat and price war between Saudi Arabia and Russia.

The foreign currency market was initiated in the range of Rs157.75 and Rs158.00. The market recorded day high of Rs158.75 and low of Rs157.75 and closed at Rs158.41.

The exchange rate witnessed stable rupee value. The buying and selling of dollar was recorded at Rs157.00/Rs158.00, the same last Friday’s closing level, in cash ready market.

In Karachi, the Pakistani Rupee showcased resilience on Friday, gaining 16 paisas against the US Dollar and breaking a four-day losing streak in the interbank foreign exchange market.

(more…)

KARACHI: The Pak Rupee declined by another 71 paisas against dollar on Thursday amid global financial crisis have been deepened after World Health Organization (WHO) declared coronavirus as global epidemic.

The rupee ended Rs159.14 to the dollar from previous day’s closing of Rs158.43 in interbank foreign exchange market.

The local currency fell by Rs4.89 or 3.16 percent against dollar during past four days trading.

Currency experts said the outflow of investment from local debt securities was the primary reason for the rupee devaluation.

The foreign currency market was initiated in the range of Rs158.95 and Rs159.10. The market recorded day high of Rs159.25 and low of Rs158.85 and close at Rs159.14.

The exchange rate in open market also witnessed devaluation in rupee value. The buying and selling of dollar was recorded at Rs157.50/Rs158.50 from previous day’s closing of Rs158.00/Rs158.50 in cash ready market.

KARACHI: The Pak Rupee fell by 98 paisas against dollar on Wednesday owing to outflow of hot money from domestic debt market, currency dealers said.

The rupee ended at Rs158.43 to the dollar from previous day’s closing of Rs157.45 in interbank foreign exchange market.

The rupee fell for the third consecutive day and lost around Rs4.19 against the dollar.

The currency dealers said that the rupee was under pressure due to announcement of monetary policy scheduled for March 17, 2020.

Currency experts said that the market is expecting a massive policy rate cut in the upcoming monetary policy statement. They said that currently the investment in local debt market was due to higher policy rate of 13.25 percent.

The foreign currency market was initiated in the range of Rs157.40 and Rs157.70. The market recorded day high Rs158.75 and low of Rs157.30 and closed at Rs158.43.

The exchange rate in open market also witnessed sharp decline in rupee value. The buying and selling of dollar was recorded at Rs157.00/Rs158.00 from previous day’s closing of Rs156.00/Rs157.00 in cash ready market.

KARACHI: The Pak Rupee fell by 87 paisas against dollar on Tuesday amid recovery in stock markets.

The rupee closed at Rs157.45 to the dollar from previous day’s close of Rs156.58 in interbank foreign exchange market.

The local unit witnessed Rs3.20 decline during past two days against the dollar.

Currency dealers said that the currency market was volatile during the day due to massive decline of stock markets in the UK and the US. They said that the market was anticipating outflows of foreign investment from the domestic debt market.

The foreign currency market was initiated in range between of Rs157.25 and Rs157.75. The market recorded day high of Rs158.00 and low of Rs156.50 and closed at Rs157.45.

The exchange rate in open market, however, maintained the levels. The buying and selling of dollar was recorded Rs156.70/Rs157.00, the same previous day’s closing in cash ready market.

KARACHI: The Pak Rupee witnessed significant decline at the opening of trade on Tuesday. The rupee lost Rs1.17 paisas against dollar in early trade, dealers said.

The dollar is being traded atRs157.75 to the dollar from last day’s closing of Rs156.58 in interbank foreign exchange market.

Currency experts said that the massive losses in world stock markets motivated investors to consolidate their funds. Due to these reasons outflows in portfolio investments in debt securities market would had happened.

The rupee lost Rs3.51 in last two days.