The Pak Rupee made notable progress against the US Dollar on Wednesday, appreciating by 46 paisas amid improved inflows of remittances sent by overseas Pakistanis. This positive movement reflects the currency’s resilience in the interbank foreign exchange market.
(more…)Tag: Interbank Foreign Exchange Market
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Rupee gains 39 paisas on improved inflows
KARACHI: The Pak Rupee gained 39 paisas against dollar on Tuesday owing to improved inflows of export receipts and home remittances.
The rupee ended Rs160.06 to the dollar as compared with the previous day’s closing of Rs160.45 in interbank foreign exchange market.
Currency experts said that the improved inflows of export receipts and home remittances helped the rupee to recover value against the greenback.
The foreign exchange market was initiated in the range of Rs160.45 and Rs160.55. The market recorded day high of Rs160.59 and low of Rs160.00.
The exchange rate in open market also witnessed improvement in rupee value. The buying and selling of dollar was recorded at Rs159.00/160.00 from previous day’s closing of Rs160.00/Rs160.50 in cash ready market.
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Rupee gains 14 paisas in interbank market
KARACHI: The Pak Rupee 14 paisas against dollar on Monday owing to improved sentiments following approval of the US support.
The rupee ended Rs160.45 to the dollar from last Friday’s closing of Rs160.59 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs160.45 and Rs160.60. The market recorded day high of Rs160.59 and low of Rs160.40 in interbank foreign exchange market.
Currency experts said that improved sentiments helped the rupee to gain the value. The US administration last week approved support to sale fighter jet to Pakistan after the successful visit of Prime Minister Imran Khan.
The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs160.00/Rs160.50, the same previous value, in cash ready market.
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Rupee ends down by 14 paisas in interbank market
KARACHI: The Pak Rupee ended down by 14 paisas against dollar on Friday owing to advance payments ahead of weekly holidays.
The rupee closed at Rs160.59 to the dollar from previous day’s closing of Rs160.45 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs160.50 and Rs160.60. The market recorded day high of Rs160.60 and low of Rs160.50 and closed at Rs160.59 in interbank foreign exchange market.
Currency experts said that the rupee was under pressure due to higher demand for import and corporate payments ahead of two weekly holidays.
The exchange rate in open market, however, witnessed gain in rupee value. The buying and selling of dollar was recorded at Rs160.00/Rs160.50 from previous day’s closing of Rs160.20/Rs160.70 in cash ready market.
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Rupee gains 33 paisas in interbank market
KARACHI: The Pak Rupee gained 33 paisas against dollar on Thursday owing to positive sentiments prevailed following successful visit of the US by Prime Minister Imran Khan.
The rupee ended Rs160.45 to the dollar from previous day’s closing of Rs160.78 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs160.45 and Rs160.75 in interbank foreign exchange market. The market recorded day high of Rs160.70 and low of Rs160.45 in interbank foreign exchange market.
Currency experts said that the local unit may under pressure in coming days due to higher import and corporate payments.
The exchange rate in open market also witnessed appreciated in rupee value. The buying and selling of dollar was recorded at Rs160.20/Rs160.70 as compared with previous day’s closing of Rs160.30/Rs160.80 in cash ready market.
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Rupee falls by 19 paisas in interbank market
KARACHI: The Pak Rupee fell by 19 paisas against dollar on Wednesday owing to higher demand for import and corporate payments.
The rupee ended at Rs160.78 to the dollar from previous day’s closing of Rs160.59 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs160.50 and Rs160.75. The market recorded day high of Rs160.90 and low of Rs160.75 and ended at Rs160.78 in interbank foreign exchange market.
Currency experts said that the rupee was under pressure due to higher corporate demands as multinational companies were set to announce their financial results and repatriate their profit in dollar term.
The exchange rate in open market also witnessed depreciation in rupee value. The buying and selling of dollar was recorded at Rs159.90/Rs160.90 from previous day’s closing of Rs159.60/Rs160.60 in cash ready market.
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Rupee ends down by six paisas in interbank market
KARACHI: The Pak Rupee ended down by six paisas against dollar on Tuesday amid demand from importer and corporate sector for the foreign currency.
The rupee ended at Rs160.59 to the dollar from previous day’s closing of Rs160.53 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs160.35 and Rs160.50. The market recorded day high of Rs160.65 and low of Rs160.15 in interbank foreign exchange market.
Currency experts said that the local currency was under pressure due to scheduled payments for foreign debts and higher demand for import payments.
The exchange rate in open market witnessed appreciation in rupee value. The buying and selling of dollar was recorded at Rs159.60/Rs160.60 from previous day’s closing of Rs160.20/Rs160.70 in cash ready market.
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Rupee falls by 34 paisas in interbank market
KARACHI: The Pak Rupee fell by 34 paisas against dollar on Monday due to higher demand for import and corporate payments.
The rupee closed at Rs160.53 to the dollar from last Friday’s closing of Rs160.19 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs160.30 and Rs160.60 to the dollar. The market recorded day high of Rs160.65 and low of Rs160.40 and ended at Rs160.53 in interbank foreign currency market.
Currency experts said that the local unit was under pressure in the opening after two days weekly holidays. The currency experts said that the unclear situation regarding exchange rate policy revised through Foreign Exchange Manual also impacted the demand and supply situation.
The exchange rate in the open market also witnessed decline in rupee value. The buying and selling of dollar was recorded at Rs160.20/Rs160.70 from previous closing of Rs160.00/Rs160.50.
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Rupee ends down by 16 paisas in interbank
KARACHI: The Pak Rupee ended down by 16 paisas against dollar in interbank foreign exchange market on Friday owing to higher payments for import and corporate payments.
The rupee ended Rs160.19 to the dollar from previous day’s closing of Rs160.03 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs160.00 and Rs160.10. The market recorded day high of Rs160.20 and low of Rs160.10 and closed at Rs160.03.
Currency experts said that the local currency was under pressure due to weekly holdays next two days.
The exchange rate in open market also witnessed decline in value of the local unit. The buying and selling of dollar was recorded at Rs160.00/Rs160.50 from previous day’s closing of Rs159.80/Rs160.50 in cash ready market.
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Rupee falls by 21 paisas against dollar
KARACHI: The Pak Rupee fell 21 paisas against dollar on Thursday due to higher demand for import and corporate payments.
The rupee ended at Rs160.03 to the dollar from previous day’s closing of Rs159.82 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs159.95 and Rs160.05. The market recorded day high of Rs160.10 and low of Rs159.95 and closed at Rs160.03 to the dollar.
Currency experts said that the local unit was under pressure due to scheduled repayment for foreign debt and payments for import and corporate.
The exchange rate in open market also witnessed deterioration in rupee value. The buying and selling of dollar recorded at Rs159.80/Rs160.30 from previous day’s closing of Rs159.30/Rs160.30 in cash ready market.