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Tag: Interbank Foreign Exchange Market

  • Pakistan interbank rupee ends Rs239.37 to dollar on July 29, 2022

    Pakistan interbank rupee ends Rs239.37 to dollar on July 29, 2022

    KARACHI: The Pakistani Rupee (PKR) recovered 57 paisas against the dollar on Friday to end at Rs239.37 in the interbank foreign exchange market.

    The exchange rate recorded a recovery of 57 paisas in rupee value to end at Rs239.37 from previous day’s closing of Rs239.94, the record low level of the local currency, in the interbank foreign exchange market.

    READ MORE: Rupee plunges near Rs240 to dollar at interbank closing

    The free-fall in rupee continued against the greenback for the last many days due to political instability and weak economic indicators.

    Currency dealers said that external payment pressure causing a continuous decline in rupee value.

    The dealers said that the continuous decline in rupee value may also be attributed to the fall in foreign exchange reserves.

    The foreign exchange reserves of the country have further declined.

    READ MORE: Dollar touches new peak at Rs236.02 at interbank closing

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    READ MORE: Rupee crashes Rs232.93 to dollar at interbank closing

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Dollar hits new high Rs229.86 on political crisis

  • Rupee plunges near Rs240 to dollar at interbank closing

    Rupee plunges near Rs240 to dollar at interbank closing

    KARACHI: The Pakistani Rupee (PKR) crashed near Rs240 against the US Dollar on Thursday at closing of interbank foreign exchange market.

    The exchange rate recorded a decline of Rs3.92 in rupee value to end at Rs239.94 to the dollar from previous day’s closing of Rs236.02 in the interbank foreign exchange market.

    The rupee is falling continuously against the greenback for the last many days due to political instability and weak economic indicators.

    Currency dealers said that external payment pressure causing a continuous decline in rupee value.

    READ MORE: Dollar touches new peak at Rs236.02 at interbank closing

    The dealers said that the continuous decline in rupee value may also be attributed to the fall in foreign exchange reserves.

    The foreign exchange reserves of the country have further declined.

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    READ MORE: Rupee crashes Rs232.93 to dollar at interbank closing

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Dollar hits new high Rs229.86 on political crisis

  • Dollar jumps up to Rs238 in midday interbank

    Dollar jumps up to Rs238 in midday interbank

    KARACHI: The US dollar jumped to Rs238 against Pakistan Rupee (PKR) in midday interbank trading on Thursday.

    The exchange rate witnessed a decline of Rs1.98 in rupee value to trade at Rs238 from last day’s closing of Rs236.02 in the interbank foreign exchange market.

    Currency experts said that the external payment pressure escalated the dollar demand.

    READ MORE: Dollar touches new peak at Rs236.02 at interbank closing

    They said that falling foreign exchange reserves and political instability also put pressure on exchange rate.

    The foreign exchange reserves of the country have further declined.

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    READ MORE: Rupee crashes Rs232.93 to dollar at interbank closing

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    READ MORE: Dollar hits new high Rs229.86 on political crisis

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

  • Dollar touches new peak at Rs236.02 at interbank closing

    Dollar touches new peak at Rs236.02 at interbank closing

    KARACHI: The US dollar touched a new peak at Rs236.02 against the Pakistan Rupee (PKR) on Wednesday at closing of interbank foreign exchange market.

    The exchange rate recorded a decline of Rs3.09 in rupee value to end at Rs236.02 to the dollar from previous day’s closing of Rs232.93 in the interbank foreign exchange market.

    READ MORE: Rupee crashes Rs232.93 to dollar at interbank closing

    The rupee is falling continuously against the greenback for the last many days due to political instability and weak economic indicators.

    Currency dealers said that external payment pressure causing a continuous decline in rupee value.

    The dealers said that the continuous decline in rupee value may also be attributed to the fall in foreign exchange reserves.

    The foreign exchange reserves of the country have further declined.

    READ MORE: Dollar hits new high Rs229.86 on political crisis

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    READ MORE: Dollar hits new high at Rs228.37 at interbank closing

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Rupee ends to new low at Rs226.81 against dollar in interbank

  • Rupee falls Rs236 to dollar at early trade on July 27, 2022

    Rupee falls Rs236 to dollar at early trade on July 27, 2022

    KARACHI: Pakistani Rupee (PKR) plunged to Rs236 against the dollar in early day trading at interbank foreign exchange market on Wednesday.

    The exchange rate presently recorded a fall of Rs3.07 in the rupee value to trade at Rs236 to the dollar when compared with previous day’s closing of Rs232.93 in the interbank foreign exchange market.

    READ MORE: Rupee crashes Rs232.93 to dollar at interbank closing

    Currency dealers said that external payment pressure causing a continuous decline in rupee value.

    The rupee recorded a decline of Rs28.08 or 13.75 per cent during first 26 days of the current fiscal year.

    The fiscal year 2022/2023 initiated at Rs204.85 to the dollar and now at Rs232.93 till July 26, 2022.

    READ MORE: Dollar hits new high Rs229.86 on political crisis

    The dealers said that the continuous decline in rupee value may be attributed to the fall in foreign exchange reserves.

    The foreign exchange reserves of the country have further declined.

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    READ MORE: Dollar hits new high at Rs228.37 at interbank closing

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Rupee ends to new low at Rs226.81 against dollar in interbank

  • Rupee crashes Rs232.93 to dollar at interbank closing

    Rupee crashes Rs232.93 to dollar at interbank closing

    KARACHI: Pakistani rupee (PKR) on Tuesday crashed at Rs232.93 to the US dollar at closing of interbank foreign exchange market.

    The exchange rate recorded a loss of Rs3.05 in rupee value to end at Rs232.93 as compared with last day’s closing of Rs229.88 in the interbank foreign exchange market.

    READ MORE: Dollar hits new high Rs229.86 on political crisis

    Currency dealers said that political instability and fiscal weakness putting pressure on exchange rate.

    The rupee recorded a decline of Rs28.08 or 13.75 per cent during first 26 days of the current fiscal year.

    The fiscal year 2022/2023 initiated at Rs204.85 to the dollar and now at Rs232.93 till July 26, 2022.

    The dealers said that the continuous decline in rupee value may be attributed to the fall in foreign exchange reserves.

    The foreign exchange reserves of the country have further declined.

    READ MORE: Dollar hits new high at Rs228.37 at interbank closing

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    READ MORE: Rupee ends to new low at Rs226.81 against dollar in interbank

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Rupee hits fresh low Rs224.92 to dollar at interbank closing

  • Rupee plummets to Rs232 against dollar in midday trading

    Rupee plummets to Rs232 against dollar in midday trading

    KARACHI: The Pakistani Rupee (PKR) fell to record low at Rs232 against the US dollar during midday trading of foreign exchange market on Tuesday.

    The dollar is being traded at Rs232 after gaining another Rs2.12 so far as compared with last day’s closing of Rs 229.88 in the interbank foreign exchange market.

    Currency experts said that the deepening political crisis had created panic in the currency market and rise in dollar demand.

    READ MORE: Dollar hits new high Rs229.86 on political crisis

    The recent election for the chief minister in the Punjab Assembly was challenged by PTI and PML (Q) seeking relief from the Supreme Court. Meanwhile, other coalition partners are demanding the Supreme Court to form a full court to decide the case.

    Currency experts said that the rupee under severe pressure due to high dollar demand for external payments.

    The foreign exchange reserves of the country have further declined.

    READ MORE: Dollar hits new high at Rs228.37 at interbank closing

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    READ MORE: Rupee ends to new low at Rs226.81 against dollar in interbank

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

  • Dollar hits new high Rs229.86 on political crisis

    Dollar hits new high Rs229.86 on political crisis

    KARACHI: The US dollar on Monday recorded a new historic high at Rs229.86 against the Pakistan Rupee (PKR) due to rising political crisis.

    The exchange rate recorded a decline of Rs1.49 in rupee value to end at Rs229.86 against the dollar from last Friday’s closing of Rs228.87 in the interbank foreign exchange market.

    READ MORE: Dollar hits new high at Rs228.37 at interbank closing

    The previous historic high of the dollar was Rs228.37 on July 22, 2022 in interbank foreign exchange market.

    Currency experts said that the deepening political crisis had created panic in the currency market and rise in dollar demand.

    The recent election for the chief minister in the Punjab Assembly was challenged by PTI and PML (Q) seeking relief from the Supreme Court. Meanwhile, other coalition partners are demanding the Supreme Court to form a full court to decide the case.

    READ MORE: Rupee ends to new low at Rs226.81 against dollar in interbank

    Currency experts said that the rupee under severe pressure due to high dollar demand for external payments.

    The foreign exchange reserves of the country have further declined.

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    READ MORE: PKR plunges Rs227 to dollar at interbank midday trading

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Rupee hits fresh low Rs224.92 to dollar at interbank closing

  • Dollar hits new high at Rs228.37 at interbank closing

    Dollar hits new high at Rs228.37 at interbank closing

    KARACHI: The US dollar made a new record high to close at Rs228.37 to the dollar on Friday at closing of interbank foreign exchange market.

    The exchange rate recorded a decline of Rs1.56 in rupee value to end at Rs228.37 to the dollar from previous day’s closing of Rs226.81 in the interbank foreign exchange market.

    READ MORE: Rupee ends to new low at Rs226.81 against dollar in interbank

    Currency experts said that the rupee under severe pressure due to high dollar demand for external payments.

    The foreign exchange reserves of the country have further declined.

    READ MORE: PKR plunges Rs227 to dollar at interbank midday trading

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    READ MORE: Rupee hits fresh low Rs224.92 to dollar at interbank closing

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    READ MORE: Pakistani Rupee crashes to Rs222 against Dollar at closing on July 19, 2022

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

  • Rupee hits new midday low of Rs228.50 against dollar

    Rupee hits new midday low of Rs228.50 against dollar

    KARACHI: The Pakistani Rupee (PKR) made a new midday trading low of Rs228.50 against the US dollar on Friday in interbank foreign exchange market.

    The dollar is being traded at Rs228.50, up Rs1.69 from last day’s closing of Rs226.81 in the interbank foreign exchange market.

    READ MORE: Rupee ends to new low at Rs226.81 against dollar in interbank

    Currency experts said that the rupee under severe pressure due to high dollar demand for external payments.

    The foreign exchange reserves of the country have further declined.

    Pakistan’s foreign exchange reserves have declined by $368 million to $15.242 billion by week ended July 15, 2022. The foreign exchange reserves of the country were $15.61 billion a week ago i.e. July 07, 2022.

    READ MORE: PKR plunges Rs227 to dollar at interbank midday trading

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.986 billion.

    The official reserves of the State Bank also depleted by $388 billion to $9.329 billion by week ended July 15, 2022 as compared with $9.717 billion a week ago.

    READ MORE: Rupee hits fresh low Rs224.92 to dollar at interbank closing

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.817 billion.

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring it to 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value. However, the effort of the SBP failed to support the rupee value.

    READ MORE: Pakistani Rupee crashes to Rs222 against Dollar at closing on July 19, 2022