Tag: Interbank Foreign Exchange Market

KARACHI: The Pak Rupee continued its recovery against dollar on Thursday amid approval of IMF loan program for Pakistan.

PublishJuly 4, 2019 6:10 pm

The rupee gained another Rs1.08 to end at Rs156.57 the dollar as compared with previous day’s closing of Rs157.65 interbank foreign exchange market.

The rupee made gains for the fourth consecutive trading sessions after hitting all time low of Rs164.06 in interbank market on June 27, 2019.

The foreign currency market was initiated in the range of Rs155.50 and Rs156.50. The market witnessed day high of Rs157.00 and low of Rs156.00 in interbank foreign exchange market.

The exchange rate also witnessed rupee appreciation in open market. The buying and selling of dollar was recorded at Rs156.00/Rs157.00 from previous day’s closing of Rs156.50/Rs157.50.

KARACHI: The Pak Rupee gained another 44 paisas against dollar on Wednesday amid hope of successful IMF loan program.

The rupee ended at Rs157.62 to the dollar from previous day’s close of Rs158.06 in interbank foreign exchange market.

The rupee witnessed record low at Rs164.05 to the dollar on June 27. However, since then the local unit recovered Rs6.43 against the greenback on expected positive outcome of IMF board meeting on Pakistan loan program scheduled for today.

The foreign currency market was initiated in the range of Rs158.25 and Rs158.75. The market recorded day high of Rs158.25 and low of Rs157.25 in interbank foreign exchange market.

The exchange rate in open market was remained unchanged.

The buying and selling of dollar was recorded at Rs156.50 / Rs157.50 the same previous day’s closing in cash ready market.

KARACHI: The Pak Rupee gained Rs1.99 against dollar on Tuesday owing to hopes of positive outcome of IMF board meeting on Pakistan loan program.

The rupee ended Rs158.06 to the dollar from the closing of last trading day on June 28, 2019 at Rs160.05 in interbank foreign exchange market.

The foreign currency market was initiated at Rs159.50 and Rs160.50. The market recorded day high of Rs159.75 and low of Rs157.50 and closed at Rs158.06.

The exchange rate in open market also witnessed appreciation in value of the local unit.

The buying and selling of dollar recorded at Rs156.50/Rs157.50 from last Saturday’s closing of Rs159.50/Rs161.00 in cash ready market.

KARACHI: The Pak Rupee ended with gain to Rs160.05 on the last day of the fiscal year at to the dollar on Friday owing to inflows of exports and workers remittances besides ease in payment for imports.

The rupee gained Rs4.01 to end at Rs160.05 to the dollar in interbank foreign exchange market as against previous day’s all time low of Rs164.06.

The foreign currency market was initiated in the range of Rs162.00 and Rs162.50. The market recorded day high of Rs163.80 and low of Rs160.00 and closed at Rs160.05.

Currency experts said that the ending of Pak Rupee at Rs160.05 would increase the overall debt as the government had estimated the budget 2019/2020 at the higher rupee value.

The exchange rate in open market also witnessed appreciation in the local unit.

The buying and selling of dollar was recorded at Rs159.50/Rs161.00 as compared with previous day’s closing of Rs162.50/Rs163.50 in cash ready market.

KARACHI: The Pak Rupee sharply recovered by Rs4.06 against dollar in midday trading on Friday owing to inflows and ease in payment, dealers said.

The dollar is being traded at Rs160 in interbank foreign exchange market. A day earlier the dollar hit all time high at Rs164.06 in the foreign currency market.

Currency dealers said that the substantail inflows helped the rupee to gain. Further the recovery can also be attributed to ease in big payment of oil import, they added.

KARACHI: The deterioration in Pak Rupee continued against dollar on Thursday as the foreign currency made a new high at Rs164.06 in interbank foreign exchange market.

The rupee fell by Rs1.09 to end at Rs164.06 to the dollar as compared with previous day’s closing of Rs162.17 in interbank foreign exchange market.

The foreign exchange market initiated in the range of Rs164.00 and Rs164.50. The market witnessed day high of Rd164.25 and low at Rs163.80 to the dollar in interbank foreign exchange market.

Currency experts said that due to closing of fiscal year by June 30 put the pressure on dollar buying for import and corporate payments.

The exchange rate in open market also witnessed depreciation of the local unit.

The buying and selling of dollar was recorded at Rs162.50/Rs163.50 as compared with last day’s closing of Rs162.00/Rs163.00 in cash ready market.

KARACHI: The Pak Rupee hit recorded another historic low against dollar on Wednesday by depreciating Rs5.51 in interbank foreign exchange market owing to withdrawal of high denomination prize bonds by the government.

The rupee ended Rs162.17 to the dollar from previous day’s closing of Rs156.99 in interbank foreign exchange market.

The foreign currency market was initiated in the range of Rs157.00 and Rs158.00. The market recorded day high of Rs162.50 and low of Rs158.50 and ended at Rs162.17.

Currency experts said that the withdrawal of Rs40,000 prize bonds put the pressure on dollar buying.

The government has announced to withdraw the bearer bonds of Rs40,000 bonds by March 2020 and its sales through bank branches has been closed since June 24, 2019.

The exchange rate in open market also witnessed deterioration in rupee value.

The buying and selling of dollar was recorded at Rs162.00/Rs163.00 from previous day’s closing of Rs156.00/Rs156.70 in cash ready market.

KARACHI: The Pak Rupee ended unchanged at all time low against the dollar on Tuesday amid demand for import and corporate payments.

The rupee ended Rs156.99 to the dollar, the same previous day’s level, in interbank foreign exchange market.

The foreign exchange market opened in the range of Rs156.75 and Rs157.00. The market recorded day high of Rs157.00 and low of Rs156.50 in interbank foreign exchange market.

The exchange rate in open market was also remained unchanged. The buying and selling of dollar was recorded at Rs156.00/Rs156.70, the same previous day’s level, in cash ready market.

KARACHI: The Pak Rupee ended down to hit all time low against dollar at closing on Monday owing to pressure from payment for import and corporate.

The rupee ended down by 16 paisas to close at Rs156.99 to the dollar from last Friday’s closing of Rs156.83 in interbank foreign exchange market.

The foreign exchange market initiated at Rs156.98 and Rs157.00. The market recorded day high of Rs157.00 and low of Rs156.75 and closed at Rs156.99.

The exchange rate in open market also witnessed depreciation in local currency value.

The buying and selling of dollar recorded at Rs156.00/Rs156.70 from last Saturday’s closing of Rs155.70/Rs156.70 in cash ready market.

The Pakistani Rupee (PKR) strengthened against the US Dollar on Friday, gaining 13 paisas, buoyed by improved inflows of remittances and reduced demand for import payments. The rupee closed at PKR 156.83 to the dollar, compared to the previous day’s closing rate of PKR 156.96 in the interbank foreign exchange market.

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