Tag: Interbank Foreign Exchange Market

The Pakistani Rupee (PKR) is likely to remain under pressure against the US Dollar next week due to import payments and trade deficit concerns.

Furthermore, the upcoming announcement of the federal budget for 2023-2024 has heightened the demand for foreign currency. As the corporate sector approaches the end of their financial year on June 30, they are actively accumulating dollars for repatriation purposes.

The Pakistani Rupee (PKR) experienced a depreciation of 30 paisas against the US dollar on Friday, primarily due to an increased demand for import and corporate payments.

The Pakistani Rupee (PKR) has gained 9 paisas against dollar in interbank foreign exchange market on Thursday.

The interbank foreign exchange market on Wednesday, witnessed a depreciation of 12 paisas in the Pakistani Rupee (PKR) against the US Dollar. This decline was primarily influenced by increased demand for the dollar and the prevailing political uncertainty.

The Pakistani Rupee (PKR) experienced a marginal gain of seven paisas against the US dollar in the interbank foreign exchange market on Monday.

Pakistani Rupee (PKR) on Monday, experienced a decline of 27 paisas against the US Dollar in the interbank foreign exchange market. This depreciation was attributed to the increased demand for the dollar, primarily driven by import payments at the start of the week.

The Pakistani Rupee (PKR) is expected to maintain stability against the US Dollar in the coming week, driven by the anticipated arrival of Russian oil. This development raises hopes of reducing the country’s oil import bill, leading to positive market sentiment.