Tag: Interbank Foreign Exchange Market

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

The rupee ended Rs154.21 to the dollar from last Friday’s closing of Rs154.20 in interbank foreign exchange market.

Analysts said that improved indicators of lower import bill and shrinking current account deficit helped the positive sentiments n the market.

They said that the rupee witnessed depreciation early in the day due to higher demand for the dollar as the market opened after two days weekly holiday.

The exchange rate in open market remained unchanged. The buying and selling of the dollar was recorded at Rs154.10/Rs154.40, the same closing level of last Friday, in cash ready market.

KARACHI: The Pakistani Rupee appreciated modestly against the US dollar on Friday, gaining three paisas to close at Rs154.20 in the interbank foreign exchange market.

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KARACHI: The Pak Rupee gained three paisas on Thursday against dollar owing to shrinking current account deficit.

The rupee ended Rs154.23 to the dollar from previous day’s closing of Rs154.26 in interbank foreign exchange market.

Currency dealers said that market sentiments were high owing to narrowing current account deficit of the country.

Pakistan’s current account deficit narrowed by 72 percent during first seven months (July – January) of 2019/2020 owing to inflows of workers’ remittances and decline in import bill.

The current account deficit reduced to $2.65 billion during the first seven months of current fiscal year as compared with $9.48 billion in the corresponding months of the last fiscal year, according to Balance of Payment (BoP) data released by State Bank of Pakistan (SBP) a day earlier.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.10/Rs154.40, the same previous day’s closing, in cash ready market.

KARACHI: The Pak Rupee fell by three paisas against dollar on Wednesday owing to demand from import and corporate buyers.

The rupee ended Rs154.26 to the dollar from previous day’s closing of Rs154.23 in interbank foreign exchange market.

The currency dealers said that dollar demand was higher because corporate buyers were active during the day. They said that many foreign corporate entities repatriate their incomes in shape of profit and dividends during results season.

They said that importers were also seen active to purchase dollars for import payment for placing orders for commodities ahead of the holy month of Ramaza.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.10/Rs154.40, the same previous day’s closing, in cash ready market.

KARACHI: The Pak Rupee gained five paisas against dollar on Tuesday as market witnessed mixed trend during the day.

The rupee ended Rs154.23 to the dollar from previous day’s closing of Rs154.28 in interbank foreign exchange market.

Currency dealers said that the market witnessed depreciation of rupee earlier in the day owing to demand from importers and corporate buyers.

However, inflows of export earnings and remittances helped the rupee to gain the value.

The foreign currency market initiated in the range of Rs154.35 and Rs154.38. The market recorded day high of Rs154.35 and low of Rs154.18 and closed at Rs154.23.

The exchange rate in open market also witnessed depreciation in the 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 cash ready market.

KARACHI: The Pak Rupee ended down by 11 paisas against dollar on Monday owing to demand from importers and corporate buyers.

The rupee ended Rs154.28 to the dollar from last Friday’s closing of Rs154.17 in interbank foreign exchange market.

The currency dealers said that the market witnessed higher demand for dollars after opening two weekly holidays.

The foreign currency market was initiated in the range of Rs154.28 and Rs154.34. The market recorded day high of Rs154.29 and low of Rs154.16 and closed at Rs154.28.

The exchange rate in open market witnessed appreciation in the rupee value. The buying and selling of the dollar recorded at Rs154.00/Rs154.30 from last Friday’s closing of Rs154.20/Rs154.50 in cash ready market.

KARACHI: The Pak Rupee made a substantial gain of 21 paisas on Friday against dollar owing to improved economic indicators and increase in foreign exchange reserves.

The rupee ended at Rs154.17 to the dollar as compared with previous day’s closing of Rs154.38 in interbank foreign exchange market.

Currency dealers said that improved numbers of foreign inflows helped the rupee to make gain.

Pakistan’s liquid foreign exchange reserves have increased by $91 million to $18.735 billion by week ended February 07, 2020, State Bank of Pakistan (SBP) said a day earlier.

The foreign exchange reserves were at $18.644 billion by week ended January 31, 2020.

The foreign exchange reserves of the central bank increased by $157 million to $12.431 billion by week ended February 07, 2020 as compared with $12.274 billion a week ago.

However, the foreign exchange reserves held by commercial banks fell by $66 million to $6.304 billion by week ended February 07, 2020 as compared with $6.37 billion a week ago.

The foreign currency market was initiated in the range of Rs154.32 and Rs154.38. The market recorded day high of Rs154.37 and low of Rs154.15 and closed at Rs154.38.

The exchange rate in open market was remained unchanged. The buying and selling of the dollar was recorded at Rs154.20/Rs154.50, same previous day’s closing, in cash ready market.

KARACHI: The Pak Rupee ended flat against dollar on Thursday owing to a range bound trading activity, dealers said.

The rupee ended 154.38 to the dollar from previous day’s closing of Rs154.37 in interbank foreign exchange market.

The dealers said that the market witnessed lackluster demand for dollars from importers and corporate buyers. Further, the inflows of export receipts and workers’ remittances were not sufficient to help the rupee to make gain.

The foreign currency market was initiated in the range of Rs154.38 and Rs154.42. The market recorded day high of Rs154.40 and low of Rs154.38 and closed at the same level.

The exchange rate in open market was remained unchanged. The buying and selling of the dollar was recorded at Rs154.20/Rs154.50, the same previous day’s closing, in cash ready market.

KARACHI: The Pak Rupee gained five paisas against dollar on Wednesday owing to inflows of export receipts and workers’ remittances, dealers said.

The rupee ended Rs154.37 to the dollar from previous day’s close of Rs154.42 in interbank foreign exchange market.

The currency dealers said that the market witnessed inflows of exports and workers’ remittances during the day. On the other hand the importers were reluctant for fresh buying due to Coronavirus threat.

The foreign currency market was initiated in the range of Rs154.35 and Rs154.40. The market recorded day high of Rs154.39 and low of Rs154.34 and closed at Rs154.37.

The exchange rate in open market also witnessed appreciation in rupee value. The buying and selling of the dollar was recorded at Rs154.20/Rs154.50 as compared with last day’s closing of Rs154.30/Rs154.60 in cash ready market.

The Pakistani Rupee made a slight gain against the US Dollar on Tuesday, closing at Rs154.42 compared to the previous day’s rate of Rs154.43 in the interbank foreign exchange market. This modest increase comes amid significant demand for the greenback for import and corporate payments, according to market dealers.

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