Tag: Interbank Foreign Exchange Market

KARACHI: The Pakistani Rupee held steady against the US Dollar on Thursday, closing at Rs156.96 in the interbank foreign exchange market, a marginal change from the previous day’s close of Rs156.97.

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KARACHI: The Pak Rupee weakened by 16 paisas against dollar on Wednesday owing to higher demand for import and corporate payments.

The rupee ended Rs156.97 to the dollar from previous day’s closing of Rs156.81 in interbank foreign exchange market.

The foreign currency market was initiated in the range of Rs156.85 and Rs156.95.

The marked recorded day high of Rs157.00 and low of Rs156.90 and closed at Rs156.97.

Currency experts said that due to oil payments the demand of greenback was high in the market.

The exchange rate was remained unchanged in open market.

The buying and selling of dollar was recorded at Rs155.50/Rs156.50, the same previous day’s level, in the cash ready market.

KARACHI: The Pak Rupee hit another historic low after depreciation of Rs1.11 against US dollar on Monday owing to payment pressure for oil import.

The rupee ended Rs156.96 to the dollar as compared with last Friday’s closing of Rs155.85 in interbank foreign exchange market.

The foreign currency market initiated in the range of Rs156.50 and Rs157.00. The market witnessed day high of Rs157.00 and low of Rs156.96 and closed at Rs156.96 in interbank foreign exchange market.

However, the exchange rate in open market witnessed appreciation of rupee value.

The buying and selling of dollar was recorded at Rs155.50/Rs156.50 from last Saturday’s close of Rs156.00/Rs157.00 in cash free market.

The rupee witnessed depreciation for the last more than one and half years. The rupee was kept stable by the previous government in order to control the economic imbalances.

However, keeping the rupee stable against dollar created balloon in the economy. Now the government is under negotiation with the IMF to bargain a new loan program, which is almost finalized. The IMF board is scheduled to meet next week to review Pakistan’s request for new loan program.

KARACHI: The dollar appreciated by Rs2.94 to make a new record high on Friday owing to weak economic indicators and high debt repayments during next two years.

The rupee ended Rs155.85 to the dollar from previous day’s closing of Rs152.91 in interbank foreign exchange market.

The interbank foreign exchange market initiate in the range of Rs153.50 and Rs153.75. The market recorded day high of Rs156.50 and low of Rs153.95 and closed at Rs155.85.

Currency experts said that the statement of the adviser to the prime minister regarding interest payment earlier in the day against foreign loan pressurized the local currency.

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

The buying and selling of the dollar was recorded at Rs156.00/Rs157.50 from previous day’s closing of Rs152.50/Rs153.50 in cash ready market.

KARACHI: The US Dollar appreciated to record high at Rs 153.71 in early trade on Friday owing to high demand for import.

The dollar is being trade at Rs153.71 after witnessing 80 paisas in interbank foreign exchange market.

The exchange rate was closed yesterday at Rs152.91 to the dollar in Interbank Foreign Exchange Market.

KARACHI: The Pak Rupee hit all time low by losing Rs1.34 against dollar on Thursday owing to higher oil payment demand and scheduled repayment against foreign loan.

The rupee ended Rs152.91 to the dollar from previous day’s close of Rs151.57 in interbank foreign exchange market.

The foreign exchange market was initiated in the range of Rs151.50 and Rs151.90.

The market recorded day high of Rs153.00 and low of Rs151.85 and closed at Rs152.91.

Currency experts said that the rupee was under pressure due to schedule repayment of foreign debt. Further the inflows of remittances became lower after Eid festival, they added.

They further added that the weekly payment of oil payment also escalated the demand for the greenback.

The exchange rate in open market was also witnessed depreciation in rupee value.

The buying and selling of dollar was recorded at Rs152.00/Rs153.00 as compared with previous day’s closing of Rs151.30/Rs152.00 in cash ready market.

The US dollar surged to an all-time high against the Pakistani rupee, reaching Rs153 during midday trading on Thursday. This significant increase is attributed to weak economic indicators, which have placed considerable pressure on the local currency.

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KARACHI: The Pak Rupee fell by 10 paisas against dollar on Wednesday owing to demand for import and corporate payments.

The rupee ended Rs151.57 to the dollar from previous day’s closing of Rs151.47 in interbank foreign exchange market.

The foreign exchange market was initiated in the range of Rs151.50 and Rs151.75. The market recorded day high of Rs152.00 and low of

Rs151.40 and closed at Rs151.57.

Currency experts said that the rupee would remain stable till the end of current fiscal year or June 30, 2019.

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

The buying and selling of dollar was recorded at Rs151.30/Rs152.00 from previous day’s closing of Rs151.00/Rs152.00 in cash ready market.

KARACHI: The Pak Rupee weakened by Rs1.36 against the US dollar on Tuesday as demand persists for import payment.

The rupee closed at Rs151.47 to the dollar from previous day’s close of Rs150.11 in interbank foreign exchange market.

Currency experts said that the rupee declined due to weak economic conditions.

They said that the economic survey launched yesterday presented bleak picture of Pakistan’s economy.

The exchange rate also witnessed depreciation in rupee value.

The buying and selling of dollar was recorded at Rs151.00/Rs152.00 from previous day’s closing of Rs150.10/Rs150.40 in cash ready market.