Tag: Interbank Foreign Exchange Market

KARACHI: The Pak Rupee (PKR) gained 11 paisas against the dollar in early day trading on Monday. The dollar is being trade at 169.90 in the interbank foreign exchange market. The foreign currency was at Rs170.01 at the closing on last Friday.

The local unit recorded a significant gain agains the dollar during past few days after falling to record low of Rs175.27 on October 26, 2021.

The recovery in the local currency was due to the announcement of the Saudi government to support Pakistan in balance of payment.

Saudi Arabia on October 26, 2021 announced an additional support of $3 billion to Pakistan for building its foreign exchange reserves. The additional financial support is besides a $1.2 billion dollars deferred oil facility to Pakistan to help its balance of payment issues, an official statement said.

Currency experts said that increase in exports also helped the rupee to make gain against the dollar.

The exports of the country surged by 25 per cent to $9.44 billion during July – October 2021 as compared with $7.57 billion in the corresponding period of the last year, according to data released by Pakistan Bureau of Statistics (PBS).

Rupee ends flat at Rs170.01 to dollar in interbank

KARACHI: The Pak Rupee (PKR) ended flat against the dollar on Friday amid foreign currency demand for import payments.

The rupee ended Rs170.01 to the dollar, the same value of the local currency a day earlier, the interbank foreign exchange market.

The local currency made significant gains to the dollar during past few days after falling to record low of Rs175.27 on October 26, 2021.

The recovery in the local currency was due to the announcement of the Saudi government to support Pakistan in balance of payment.

Saudi Arabia on October 26, 2021 announced an additional support of $3 billion to Pakistan for building its foreign exchange reserves. The additional financial support is besides a $1.2 billion dollars deferred oil facility to Pakistan to help its balance of payment issues, an official statement said.

Currency experts said that increase in exports also helped the rupee to make gain against the dollar.

The exports of the country surged by 25 per cent to $9.44 billion during July – October 2021 as compared with $7.57 billion in the corresponding period of the last year, according to data released by Pakistan Bureau of Statistics (PBS).

PKR’s six-day gaining streak ends

KARACHI: The Pak Rupee (PKR) appreciated for sixth consecutive day on Wednesday as dollar fell below Rs170 in the interbank foreign exchange market.

The rupee gained 57 paisas to close at Rs169.97 against the dollar from previous day’s closing of Rs170.54 in the interbank foreign exchange market.

The local currency is making a continuous recovery against the greenback since falling to historic low at Rs175.27 on October 26, 2021.

The appreciation in the local unit has been seen soon after an announcement by the Saudi government to support Pakistan in managing balance of payment.

Last week Saudi Arabia announced an additional support of $3 billion to Pakistan for building its foreign exchange reserves. The additional financial support is besides a $1.2 billion dollars deferred oil facility to Pakistan to help its balance of payment issues, an official statement said.

Besides, the latest number of exports also improved the sentiments in the foreign exchange market.

The exports of the country surged by 25 per cent to $9.44 billion during July – October 2021 as compared with $7.57 billion in the corresponding period of the last year.

Dollar falls by 75 paisas against PKR in interbank

KARACHI: The US dollar fell against the Pak Rupee (PKR) by 75 paisas on Tuesday owing to positive sentiments prevailing in the foreign currency market.

The rupee ended at Rs170.54 to the dollar from the previous day’s closing of Rs171.29 in the interbank foreign exchange market.

The rupee is continuously making gain against the dollar after the announcement of Saudi Arabia to support Pakistan in the balance of payment.

The rupee hit the historic low at Rs175.27 on October 26, 2021.

Saudi Arabia last week announced an additional support of $3 billion to Pakistan for building its foreign exchange reserves. The additional financial support is besides a $1.2 billion dollars deferred oil facility to Pakistan to help its balance of payment issues, an official statement said.

The local currency fell by Rs13.00 or 8.25 per cent from June 30, 2021 closing of Rs157.54 to the closing of Rs170.54 on November 2, 2021.

Dollar ends down to Rs171.29 in interbank

KARACHI: The dollar fell to Rs171.29 in the interbank foreign exchange market on Monday. The Pak Rupee gained 36 paisas against the greenback.

The rupee ended Rs171.29 to the dollar from last Friday’s closing of Rs171.65 in the interbank foreign exchange market.

The rupee gained the value for the last four trading days after the Saudi government’s pledge to provide financial support to Pakistan.

Saudi Arabia last Tuesday announced an additional support of $3 billion to Pakistan for building its foreign exchange reserves. The additional financial support is besides a $1.2 billion dollars deferred oil facility to Pakistan to help its balance of payment issues, an official statement said.

The local currency has witnessed a gain of Rs3.98 or 2.27 per cent against the greenback during the past four trading sessions. The rupee hit the historic low at Rs175.27 on October 26, 2021.

Dollar plunges to Rs171.65 in interbank forex market

KARACHI: The dollar continued to slide against Pak Rupee (PKR) on Thursday following an announcement of Saudi Arabia to support Pakistan in its balance of payment.

The rupee ended Rs172.26 to the dollar from the previous day’s closing of Rs172.78 in the interbank foreign exchange market.

The Saudi government on October 26, 2021 announced to deposit $3 billion with the State Bank of Pakistan (SBP) to support the country for balance of payment.

The local currency has made a gain of Rs3.01 or 1.72 per cent against the greenback during the past two days. The rupee hit the historic low at Rs175.27 on October 27, 2021.

Saudi Arabia late Tuesday night announced an additional support of $3 billion to Pakistan for building its foreign exchange reserves. The additional financial support is besides a $1.2 billion dollars deferred oil facility to Pakistan to help its balance of payment issues, an official statement said.

According to the Saudi Press Agency – SPA, the Saudi Fund for Development in a “generous gesture” announced a deposit of $3 billion dollars with the State Bank of Pakistan (SBP) to help the government support its foreign currency reserves and counter the impact of the Corona pandemic.

Rupee rebounds 1.44% against dollar on Saudi package