KARACHI: The US dollar ended at Pakistan Rupee (PKR) 186.13, a new historic high of the foreign currency, at closing of interbank foreign exchange market on Wednesday.
(more…)Tag: Interbank Foreign Exchange Market
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Dollar crosses PKR 186 in midday interbank trading
KARACHI: The US dollar crossed the level of 186 to Pakistan Rupee (PKR) during midday trading at interbank foreign exchange market on Wednesday.
The dollar/rupee parity is at Rs186.10 to the dollar. The foreign currency has gained 87 paisas so far when compared with last day’s closing of Rs185.23.
READ MORE: Dollar continues record spree against PKR; hits 185.23
The rupee fell non-stop against the dollar for the last 15 trading sessions. The local currency recorded Rs178.51 at interbank closing on March 11, 2022 and since then the dollar’s made gain Rs6.72 at the closing.
The local unit recorded a decline of Rs27.69 or 17.58 per cent against the dollar since start of the current fiscal year. The rupee was at Rs157.54 to the dollar on June 30, 2021 and fell to Rs185.23 to the dollar on April 05, 2022.
READ MORE: Dollar makes new top at Rs184.09
The recent fall may be attributed to significant fall to foreign exchange reserves. Pakistan’s foreign exchange reserves have depleted by $2.88 billion in a week to $18.554 billion by week ended March 25, 2022, State Bank of Pakistan (SBP) said on Thursday.
The foreign exchange reserves of the country were $21.44 billion by week ended March 18, 2022.
This is seventh consecutive week when the country’s foreign exchange reserves have witnessed consistent decline. The liquid foreign exchange reserves of Pakistan have declined by $5.167 billion since February 04, 2022, when the reserves were at $23.721 billion.
READ MORE: Rupee continues falling spree; dollar at Rs183.48
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year.
Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
READ MORE: Rupee falls to new historic low to dollar at 182.64
The trade deficit widened by 70 per cent to $35.39 billion during first nine months (July – March) 2021/2022 as compared with the deficit of $20.8 billion in the corresponding months of the last fiscal year.
The exports of the country recorded an increase of 24.67 per cent to $23.3 billion during first nine months of the current fiscal year as compared with $18.7 billion in the same months of the last fiscal year.
Meanwhile, import bill registered an increase of 48.63 per cent to $58.69 billion during July – March 2021/2022 as compared with $39.49 billion in the corresponding period of the last fiscal year.
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Dollar continues record spree against PKR; hits 185.23
KARACHI: The US dollar’s record making 15-day spree against Pakistan Rupee (PKR) continued on Tuesday as the exchange rate ended Rs185.23 in interbank foreign exchange market.
The rupee fell by Rs1.14 paisas to close at Rs185.25 to the dollar from previous close of Rs184.09 on April 01, 2022 in the interbank foreign exchange market.
The rupee fell non-stop against the dollar for the last 15 trading sessions. The local currency recorded Rs178.51 at interbank closing on March 11, 2022 and since then the dollar’s made gain Rs6.72.
READ MORE: Dollar makes new top at Rs184.09
The local unit recorded a decline of Rs27.69 or 17.58 per cent against the dollar since start of the current fiscal year. The rupee was at Rs157.54 to the dollar on June 30, 2021 and fell to Rs185.23 to the dollar on April 05, 2022.
The recent fall may be attributed to significant fall to foreign exchange reserves. Pakistan’s foreign exchange reserves have depleted by $2.88 billion in a week to $18.554 billion by week ended March 25, 2022, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were $21.44 billion by week ended March 18, 2022.
READ MORE: Rupee continues falling spree; dollar at Rs183.48
This is seventh consecutive week when the country’s foreign exchange reserves have witnessed consistent decline. The liquid foreign exchange reserves of Pakistan have declined by $5.167 billion since February 04, 2022, when the reserves were at $23.721 billion.
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year.
READ MORE: Rupee falls to new historic low to dollar at 182.64
Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
The trade deficit widened by 70 per cent to $35.39 billion during first nine months (July – March) 2021/2022 as compared with the deficit of $20.8 billion in the corresponding months of the last fiscal year.
READ MORE: Rupee deteriorates record low to dollar at 182.34
The exports of the country recorded an increase of 24.67 per cent to $23.3 billion during first nine months of the current fiscal year as compared with $18.7 billion in the same months of the last fiscal year.
Meanwhile, import bill registered an increase of 48.63 per cent to $58.69 billion during July – March 2021/2022 as compared with $39.49 billion in the corresponding period of the last fiscal year.
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Dollar hits PKR 184.35 in intraday trading
KARACHI: The US dollar hit a new record high at Pakistan Rupee (PKR) 184.35 during intraday trading at interbank foreign exchange market on Tuesday.
The market opened after three days (two weekly holidays + bank holiday) and witnessed dollar demand.
The rupee fell so far 26 paisas against the dollar. The local unit ended at Rs184.09 to the dollar on April 01, 2022 in interbank foreign exchange market. It was the highest level of the dollar by closing of interbank market.
READ MORE: Dollar makes new top at Rs184.09
The rupee fell non-stop against the dollar for the last 14 trading sessions. The local currency recorded Rs178.51 at interbank closing on March 11, 2022 and since then the dollar’s Bull Run was unabated.
The recent fall may be attributed to significant fall to foreign exchange reserves. Pakistan’s foreign exchange reserves have depleted by $2.88 billion in a week to $18.554 billion by week ended March 25, 2022, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were $21.44 billion by week ended March 18, 2022.
READ MORE: Rupee continues falling spree; dollar at Rs183.48
This is seventh consecutive week when the country’s foreign exchange reserves have witnessed consistent decline. The liquid foreign exchange reserves of Pakistan have declined by $5.167 billion since February 04, 2022, when the reserves were at $23.721 billion.
READ MORE: Rupee falls to new historic low to dollar at 182.64
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year.
Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
READ MORE: Rupee deteriorates record low to dollar at 182.34
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Dollar makes new top at Rs184.09
KARACHI: The unabated record making journey of the US Dollar against Pakistan Rupee (PKR) continued on Friday as the foreign currency reached to a new historic high of Rs184.09.
The rupee fell by 61 paisas to close at Rs184.09 to the dollar from previous day’s close of Rs183.48 in the interbank foreign exchange market.
READ MORE: Rupee continues falling spree; dollar at Rs183.48
The rupee fell non-stop against the dollar for the last 14 trading sessions. The local currency recorded Rs178.51 at interbank closing on March 11, 2022 and since then the dollar’s Bull Run was unabated.
The recent fall may be attributed to significant fall to foreign exchange reserves. Pakistan’s foreign exchange reserves have depleted by $2.88 billion in a week to $18.554 billion by week ended March 25, 2022, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were $21.44 billion by week ended March 18, 2022.
READ MORE: Rupee falls to new historic low to dollar at 182.64
This is seventh consecutive week when the country’s foreign exchange reserves have witnessed consistent decline. The liquid foreign exchange reserves of Pakistan have declined by $5.167 billion since February 04, 2022, when the reserves were at $23.721 billion.
READ MORE: Rupee deteriorates record low to dollar at 182.34
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year.
READ MORE: Dollar jumps to new record high at PKR 182.19
Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
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Dollar touches Rs184 in midday interbank trading
KARACHI: The US Dollar continues record breaking journey against the Pakistan Rupee (PKR) and reached Rs184 for the first time in interbank foreign exchange market.
The dollar gained 52 paisas in midday trading from previous day’s closing of Rs183.48 in the interbank foreign exchange market.
READ MORE: Rupee continues falling spree; dollar at Rs183.48
The rupee last day closing fell non-stop against the dollar for the last 13 trading sessions. The local currency recorded Rs178.51 at interbank closing on March 11, 2022 and since then the dollar run was unabated.
The recent fall may be attributed to significant fall to foreign exchange reserves. Pakistan’s foreign exchange reserves have depleted by $2.88 billion in a week to $18.554 billion by week ended March 25, 2022, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were $21.44 billion by week ended March 18, 2022.
READ MORE: Rupee falls to new historic low to dollar at 182.64
This is seventh consecutive week when the country’s foreign exchange reserves have witnessed consistent decline. The liquid foreign exchange reserves of Pakistan have declined by $5.167 billion since February 04, 2022, when the reserves were at $23.721 billion.
READ MORE: Rupee deteriorates record low to dollar at 182.34
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year.
READ MORE: Dollar jumps to new record high at PKR 182.19
Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
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Rupee continues falling spree; dollar at Rs183.48
KARACHI: The Pakistan Rupee (PKR) witnessed major fall of 84 paisas against the dollar on Thursday to continue its spree of making new historic lows.
The rupee ended Rs183.48 to the dollar from the last day’s closing of Rs182.64 in the interbank foreign exchange market.
READ MORE: Rupee falls to new historic low to dollar at 182.64
The rupee has fallen non-stop against the dollar for the last 13 trading sessions. The local currency recorded Rs178.51 at interbank closing on March 11, 2022 and since then the dollar run was unabated.
Currency experts said that the dollar demand remained high during the day due to falling foreign exchange reserves, volatiles commodity prices in international markets and political uncertainty.
READ MORE: Rupee deteriorates record low to dollar at 182.34
Large external payments against foreign debts depressed the rupee value. Pakistan’s foreign exchange reserves fell by $2.28 billion to $21.44 billion by March 18, 2022 as compared with $23.72 billion as of February 4, 2022.
READ MORE: Dollar jumps to new record high at PKR 182.19
The foreign exchange reserves of the country hit record high at $27.23 billion on August 27, 2021.
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year.
READ MORE: Dollar continues historic journey; tops at PKR 181.78
Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
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Dollar hits new high PKR 183.50 in interbank early trade
KARACHI: The US dollar crossed 183 mark against the Pakistan Rupee (PKR) for the first time in the history and is traded at Rs183.50 on Thursday.
The rupee so far fell 86 paisas against the dollar from previous day’s closing of Rs182.64 in the interbank foreign exchange market.
READ MORE: Rupee falls to new historic low to dollar at 182.64
Currency experts said political uncertainty and repayment against external debt kept the rupee under pressure.
READ MORE: Rupee deteriorates record low to dollar at 182.34
Large external payments against foreign debts depressed the rupee value. Pakistan’s foreign exchange reserves fell by $2.28 billion to $21.44 billion by March 18, 2022 as compared with $23.72 billion as of February 4, 2022. The foreign exchange reserves of the country hit record high at $27.23 billion on August 27, 2021.
READ MORE: Dollar jumps to new record high at PKR 182.19
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year. Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
READ MORE: Dollar continues historic journey; tops at PKR 181.78
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Rupee falls to new historic low to dollar at 182.64
KARACHI: The Pakistan Rupee (PKR) made new record low against dollar at Rs182.64 on Wednesday.
The rupee fell by 30 paisas against the dollar from previous day’s closing of Rs182.34 in the interbank foreign exchange market.
READ MORE: Rupee deteriorates record low to dollar at 182.34
Currency experts said that the dollar demand remained high during the day due to falling foreign exchange reserves, volatiles commodity prices in international markets and political uncertainty.
READ MORE: Dollar jumps to new record high at PKR 182.19
Large external payments against foreign debts depressed the rupee value. Pakistan’s foreign exchange reserves fell by $2.28 billion to $21.44 billion by March 18, 2022 as compared with $23.72 billion as of February 4, 2022. The foreign exchange reserves of the country hit record high at $27.23 billion on August 27, 2021.
READ MORE: Dollar continues historic journey; tops at PKR 181.78
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year. Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
READ MORE: Dollar maintains record high against PKR at Rs181.73
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Rupee deteriorates record low to dollar at 182.34
KARACHI: The Pakistan Rupee (PKR) deteriorated to another record low against dollar at Rs182.34 on Tuesday.
The rupee fell by 34 paisas against the dollar from previous day’s closing of Rs182.19 in the interbank foreign exchange market.
READ MORE: Dollar jumps to new record high at PKR 182.19
Currency experts said that the dollar demand remained high during the day due to falling foreign exchange reserves, volatiles commodity prices in international markets and political uncertainty.
READ MORE: Dollar continues historic journey; tops at PKR 181.78
Large external payments against foreign debts depressed the rupee value. Pakistan’s foreign exchange reserves fell by $2.28 billion to $21.44 billion by March 18, 2022 as compared with $23.72 billion as of February 4, 2022. The foreign exchange reserves of the country hit record high at $27.23 billion on August 27, 2021.
READ MORE: Dollar maintains record high against PKR at Rs181.73
The ballooning current account deficit escalated the dollar value. Pakistan’s current account deficit ballooned to $12 billion during first eight months (July – February) 2021/2022 against a surplus of $994 million in the corresponding months of the last fiscal year. Although the current account deficit narrowed to $545 million in February 2022 as compared with the deficit of $2.53 billion in January 2022, scheduled external repayments are still a threat to balance of payment.
READ MORE: Rupee’s losing streak continues as dollar tops Rs181.73