Tag: Interbank Foreign Exchange Market

KARACHI: The rupee fell by Rs2.34 against dollar on Monday due to panic prevailed following massive decline in global stock markets.

The rupee ended Rs156.58 to the dollar from last Friday’s closing of Rs156.24 in interbank foreign exchange market.

Currency experts said that due to high volatility in the local stock market the currency market followed the suit. The benchmark KSE-100 of Pakistan Stock Exchange (PSX) recorded decline of 1161 points on Monday.

However, they believed that the falling international oil prices would help the local currency to make gain in coming days.

The foreign currency market was initiated in the range of Rs154.52 and Rs154.70. The market recorded day high of Rs156.70 and low of Rs154.70 and closed at Rs156.58.

The exchange rate in open market also witnessed depreciation in rupee value. The buying and selling of dollar was recorded at Rs156.70/Rs157.00 from last Friday’s closing of Rs154.00/Rs154.30, in cash ready market.

KARACHI: The foreign currency market followed the stock market decline as Pak Rupee depreciated by 81 paisas against dollar in early trading on Monday.

The dollar is being traded at Rs155.05 in early trade in interbank foreign exchange market.

The rupee was ended Rs154.24 to the dollar on last Friday trading.

Earlier in the day the stock market was crashed and stopped trading. The market fell below five percent on record low in international oil prices.

Analysts at currency market said that the currency market was facing import of uncertainty in the stock market.

KARACHI: The Pak Rupee ended five paisas down against dollar on Thursday owing to demand for import payment, dealers said.

The rupee ended Rs154.27 to the dollar from previous day’s closing of Rs154.22 in interbank foreign exchange market.

The dealers said that earlier in the date the rupee gained value owing to inflows of workers remittances and export receipts. However, later import payment demand deteriorated value of the local currency.

The rupee gained values during the past few days owing to lower demand for import payment after coronavirus spread in many countries.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.00/Rs154.30, the same previous day’s level, in cash ready market.

KARACHI: The Pak Rupee gained seven paisas against dollar on Wednesday owing to lower import and corporate demand, dealers said.

The rupee ended Rs154.22 to the dollar from previous day’s closing of Rs154.29 in interbank foreign exchange market.

The currency dealers said that lackluster demand was seen from importer and corporate buyers for the dollar.

The said that due to coronavirus threat, which spread in many countries, many states imposed restrictions imports from those countries where infections had been detected.

Certain checks have also been imposed by the government on imports from such countries particularly from China, which is the center-point of this epidemic.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.00/Rs154.30, the same previous day’s closing, in cash ready market.

KARACHI: The Pak Rupee gained eight paisas against dollar on Tuesday owing to significant decline in import bill.

The rupee ended Rs154.29 to the dollar from previous day’s closing of Rs154.37 in interbank foreign exchange market.

Currency dealers said that the shrinking trade deficit and decline in imports helped the rupee to gain value.

The import bill of the country fell to $31 billion during July – February 2019/2020 as compared with $36.5 billion in the corresponding period of the last fiscal year, showing decline of around 15 percent.

The falling imports also helped the country to curtail trade deficit. The trade deficit shrank by 27 percent to $15.5 billion during first eight months of the current fiscal year as compared with $21.5 billion in the corresponding period of the last fiscal year.

The foreign currency market was initiated in the range of Rs154.32 and Rs154.38. The market recorded day high of Rs154.35 and low of Rs154.29 and closed at Rs154.29.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.00/Rs154.30, the same previous day’s closing, in cash ready market.

KARACHI: The Pak Rupee ended down by 14 paisas against dollar on Monday owing to higher demand of foreign currency for import and corporate payment.

The rupee ended at Rs154.37 to the dollar from last Friday’s closing of Rs 154.23 in Interbank foreign exchange market.

Currency experts said that the market was opened after weekly holidays. The demand for the greenback was higher from importers and corporate buyers.

The foreign currency market was initiated in the range of Rs154.40 and Rs154.45. The market recorded day high of Rs154.40 and low of Rs154.34 and closed at Rs154.37.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of the dollar was recorded at Rs154.00/Rs154.30, the same closing level of last Friday, in cash ready market.

KARACHI: The Pak Rupee eased by two paisas against dollar on Friday in range bound trading activities, dealers said.

The rupee closed at Rs154.23 to the dollar from previous day’s closing of Rs154.21 in interbank foreign exchange market.

The currency dealers said that the market was remained dull during the day owing to lackluster demand from importers and corporate buyers.

However, slight demand was seen due to the last week day, they added.

The foreign currency market was initiated in the range of Rs154.21 and Rs154.24. The market recorded day high of Rs154.24 and low of Rs154.19 and closed at Rs154.23.

The exchange rate in open market witnessed depreciation in rupee value. The buying and selling of the dollar was recorded at Rs154.10/Rs154.40 from previous day’s closing of Rs154.00/Rs154.30 in interbank foreign exchange market.

KARACHI: The Pak Rupee gained four paisas against dollar on Thursday owing to lower demand for import and corporate payments.

The rupee ended Rs154.21 to the dollar from previous day’s closing of Rs154.25 in interbank foreign exchange market.

Currency dealers said that due to fears of coronavirus and stuck up import consignments at the ports discouraged importers to buy the foreign currency.

Reportedly, huge number of consignments of China origin was stuck up at ports due to formalities attached to coronavirus threat.

The exchange rate in open market witnessed appreciation in rupee value. The buying and selling of the dollar recorded at Rs154.00/Rs154.30 as compared with previous day’s closing of Rs154.10/Rs154.40 in cash ready market.

KARACHI: The Pak Rupee ended unchanged against dollar on Wednesday amid demand for import and corporate payments.

The rupee ended Rs154.25 to the dollar, same previous day’s closing in interbank foreign exchange market.

Currency dealers said that the market witnessed demands for dollars from importers and corporate buyers. However, inflows of remittances and export payments helped the rupee to end stable.

The exchange rate in open market the rupee value was also remained unchanged. The buying and selling of dollar was recorded at Rs154.10/Rs154.40, same previous day’s closing level, in cash ready market.

KARACHI: The Pak Rupee ended four paisas down against dollar on Tuesday amid demand for import and corporate payments.

The rupee ended Rs154.25 to the dollar from previous day’s closing of Rs154.21 in interbank foreign exchange market.

Currency dealers said that the rupee depreciated due to demand for dollars from importers and corporate buyers. They said that due to coronavirus threat the currency market was also seen some depreciation in rupee value.

The exchange rate in open market the rupee value was remained unchanged. The buying and selling of dollar was recorded at Rs154.10/Rs154.40, same previous day’s closing level, in cash ready market.