Tag: Interbank Foreign Exchange Market

KARACHI: The US dollar hit fresh record high of Rs200.93 against the Pakistan Rupee (PKR) on Monday as political noise louder following an announcement of a mass-rally against the collation government led by PML-N.

The exchange rate witnessed a loss of 79 paisas in rupee value against the dollar to end at Rs200.93 from last Friday’s closing of Rs200.14 in interbank foreign exchange market.

READ MORE: Dollar touches new peak at Rs200.14

Analysts said that the political uncertainty caused further depreciation in rupee as former Prime Minister Imran Khan a day earlier announced a long march on May 25, 2022 against the present government.

The PML-N led government came to power after former Prime Minister Imran Khan was removed from the executive post after vote of confidence on April 10, 2022.

The present government inherited with serious economic challenges including falling foreign exchange reserves and ballooning current account deficit.

The rupee lost Rs16.25 or 8.8 per cent in 1 ½ months from Rs184.68 on April 08, 2022 to the present level of Rs200.93 on May 23, 2022.

READ MORE: Dollar hits record Rs200 at interbank trading

Last week the government announced to impose a complete ban on imports to support balance of payment and help rupee to stable. However, these measures appeared in failure as the exchange rate yet again deteriorated today massively.

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall.

Pakistan’s foreign exchange reserves fell to $16.161 billion by the week ended May 13, 2022. The foreign exchange reserves of the country were $16.373 billion by week ended May 6, 2022.

READ MORE: Dollar makes new high Rs198.39 at interbank closing

The country’s foreign exchange reserves hit record high at $27.228 billion by the week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $11.067 billion.

The official reserves of the State Bank witnessed a decline of $146 million to $10.163 billion by the week ended May 13, 2022 as compared with $10.309 billion a week ago.

The SBP reserves reached a record high at $20.145 billion by August 27, 2021. The official reserves also fell by around $10 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.50 months.

READ MORE: Dollar peaks at Rs195.50 at midday interbank trading

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

Pakistan is a net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of the country.

KARACHI: The US dollar made new record high of Rs201 against the Pakistan Rupee (PKR) during midday interbank trading on Monday May 23, 2022.

The exchange rate recorded 86 paisas fall in rupee value as dollar is being traded at Rs201. The rupee was closed at Rs200.14 by closing in interbank foreign exchange market last Friday i.e. May 20, 2022.

READ MORE: Dollar touches new peak at Rs200.14

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall.

It is pertinent to mention that the government imposed a ban on all luxury items last week in order to manage balance of payment and support rupee value.

However, political noise has put pressure on exchange rate as PTI Chairman Imran Khan has given May 25, 2022 for a long march towards Islamabad.

READ MORE: Dollar hits record Rs200 at interbank trading

Pakistan’s foreign exchange reserves fell to $16.161 billion by the week ended May 13, 2022. The foreign exchange reserves of the country were $16.373 billion by week ended May 6, 2022.

The country’s foreign exchange reserves hit record high at $27.228 billion by the week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $11.067 billion.

The official reserves of the State Bank witnessed a decline of $146 million to $10.163 billion by the week ended May 13, 2022 as compared with $10.309 billion a week ago.

READ MORE: Dollar makes new high Rs198.39 at interbank closing

The SBP reserves reached a record high at $20.145 billion by August 27, 2021. The official reserves also fell by around $10 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.50 months.

READ MORE: Dollar peaks at Rs195.50 at midday interbank trading

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

Pakistan is a net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of the country.

KARACHI: The US dollar gained 14 paisas against the Pakistan Rupee (PKR) to make new peak at Rs200.14 at interbank foreign exchange market on Friday.

The exchange rate was closed at Rs200 to the dollar a day earlier in interbank foreign exchange market.

READ MORE: Dollar hits record Rs200 at interbank trading

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall.

Further, delay in IMF tranche of $1 billion after the government decision not to remove subsidy on fuel prices, put further pressure on the exchange rate.

READ MORE: Dollar makes new high Rs198.39 at interbank closing

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by the week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

The country’s foreign exchange reserves hit record high at $27.228 billion by the week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

READ MORE: Dollar peaks at Rs195.50 at midday interbank trading

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by the week ended May 6, 2022 as compared with $10.499 billion a week ago.

The SBP reserves reached a record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

READ MORE: Dollar makes new high Rs195.75 at interbank closing

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

Pakistan is a net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of the country.

KARACHI: The US dollar gained Rs1.61 against the Pakistan Rupee (PKR) to make new peak at Rs200 at interbank foreign exchange market on Thursday.

The exchange rate was closed at Rs198.39 to the dollar a day earlier in interbank foreign exchange market.

READ MORE: Dollar makes new high Rs198.39 at interbank closing

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall.

Further, delay in IMF tranche of $1 billion after the government decision not to remove subsidy on fuel prices, put further pressure on the exchange rate.

READ MORE: Dollar peaks at Rs195.50 at midday interbank trading

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by the week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

The country’s foreign exchange reserves hit record high at $27.228 billion by the week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

READ MORE: Dollar makes new high Rs195.75 at interbank closing

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by the week ended May 6, 2022 as compared with $10.499 billion a week ago.

The SBP reserves reached a record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

READ MORE: SBP may raise policy rate by 100bps to 13.25%

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

Pakistan is a net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of the country.

KARACHI: The US dollar gained Rs2.64 against the Pakistan Rupee (PKR) to make new record high at Rs198.39 by end of trading at interbank foreign exchange market on Wednesday.

The exchange rate was closed at Rs198.39 to the dollar, which was the previous high of the dollar, a day earlier in interbank foreign exchange market.

READ MORE: Dollar makes new high Rs195.75 at interbank closing

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall. Further, delay in IMF tranche of $1 billion after the government decision not to remove subsidy on fuel prices, put further pressure on the exchange rate.

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by the week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

The country’s foreign exchange reserves hit record high at $27.228 billion by the week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

READ MORE: Dollar makes fresh high at Rs194.18 at interbank closing

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by the week ended May 6, 2022 as compared with $10.499 billion a week ago.

The SBP reserves reached a record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

READ MORE: Rupee falls for 8th straight day; dollar hits Rs192.53

Pakistan is a net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of the country.

READ MORE: Rupee fall continues; dollar hits new high at Rs191.77

KARACHI: The US dollar gained Rs1.57 against the Pakistan Rupee (PKR) to make new record high at Rs195.75 by end of trading at interbank foreign exchange market on Tuesday.

The exchange rate was closed at Rs194.18 to the dollar, which was the previous high of the dollar, a day earlier in interbank foreign exchange market.

READ MORE: Dollar makes fresh high at Rs194.18 at interbank closing

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall. Further, delay in IMF tranche of $1 billion after the government decision not to remove subsidy on fuel prices, put further pressure on the exchange rate.

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by the week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

The country’s foreign exchange reserves hit record high at $27.228 billion by the week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

READ MORE: Rupee falls for 8th straight day; dollar hits Rs192.53

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by the week ended May 6, 2022 as compared with $10.499 billion a week ago.

The SBP reserves reached a record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

READ MORE: Rupee fall continues; dollar hits new high at Rs191.77

Pakistan is a net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of the country.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

KARACHI: The US dollar gained Rs1.32 against the Pakistan Rupee (PKR) to make new peak at Rs195.50 during midday trading at interbank foreign exchange market on Tuesday.

The exchange rate was closed at Rs194.18 to the dollar a day earlier in interbank foreign exchange market.

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall.

Further, delay in IMF tranche of $1 billion after the government decision not to remove subsidy on fuel prices, put further pressure on the exchange rate.

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by the week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

The country’s foreign exchange reserves hit record high at $27.228 billion by the week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by the week ended May 6, 2022 as compared with $10.499 billion a week ago.

The SBP reserves reached a record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

Pakistan is a net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of the country.

KARACHI: The US dollar made a new fresh record high of Rs194.18 against the Pakistan Rupee (PKR) on Monday due to massive decline in foreign exchange reserves.

The exchange rate witnessed a decline of Rs1.65 in rupee value to end at Rs194.18 to the dollar as compared with last Friday’s closing of Rs192.53 in the interbank foreign exchange market.

READ MORE: Rupee falls for 8th straight day; dollar hits Rs192.53

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall.

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by the week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

READ MORE: Rupee fall continues; dollar hits new high at Rs191.77

The country’s foreign exchange reserves hit record high at $27.228 billion by the week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by the week ended May 6, 2022 as compared with $10.499 billion a week ago.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

The SBP reserves reached a record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

READ MORE: Rupee hits all-time low at Rs188.66 to dollar

Pakistan is a net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of the country.

KARACHI: The US dollar hit a record high of 194 against the Pakistan Rupee (PKR) during midday trading at interbank foreign exchange market on Monday.

The exchange rate witnessed a loss of Rs1.47 in the local currency value against the greenback. The dollar is being traded at Rs194.

READ MORE: Rupee falls for 8th straight day; dollar hits Rs192.53

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall.

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

READ MORE: Rupee fall continues; dollar hits new high at Rs191.77

The country’s foreign exchange reserves hit record high at $27.228 billion by week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by week ended May 6, 2022 as compared with $10.499 billion a week ago.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

The SBP reserves reached to record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

READ MORE: Rupee hits all-time low at Rs188.66 to dollar

Pakistan is net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of country.

KARACHI: The Pakistan Rupee (PKR) continued to slide against the US dollar for eighth straight day and reached to historic low at Rs192.53 on Friday.

The exchange rate witnessed a decline of 76 paisas in rupee value to reach Rs192.53, making fresh low against the US dollar in interbank foreign exchange market. The exchange rate was at Rs191.77 a day earlier at closing in interbank foreign exchange market.

READ MORE: Rupee fall continues; dollar hits new high at Rs191.77

Currency experts said that the falling foreign exchange reserves were main reason behind the free-fall in rupee value.

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

The country’s foreign exchange reserves hit record high at $27.228 billion by week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by week ended May 6, 2022 as compared with $10.499 billion a week ago.

The SBP reserves reached to record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

READ MORE: Rupee hits all-time low at Rs188.66 to dollar

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

Pakistan is net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of country.

READ MORE: Dollar ends Rs187.53 at interbank market close