Tag: Interbank Foreign Exchange Market

KARACHI: The US dollar gained strength against the Pakistani rupee on Monday, reaching Rs167.23 in the interbank foreign exchange market.

KARACHI: The  Pak Rupee (PKR) made a recovery of seven paisas against the dollar on Friday. The interbank foreign exchange marke ended at Rs166.91 to the dollar from the previous day’s closing of Rs166.98.

The dollar made a sharp gain early in the day and reached Rs167.20. However, the supply of the greenback during the day helped the rupee to make gains.

The market witnessed the supply of the dollars in the shape of workers’ remittances and export receipts.

Currency experts said that the dollar demand remained high during the day because of the last trading day of the week. However, the supply of the dollar supported the rupee.

KARACHI: The US dollar reached Rs167.20 during early day trading on Friday. The greenback further gained 22 paisas against the Pak Rupee (PKR) in the early trade. The foreign currency was ended last day at Rs166.98 in the interbank foreign exchange market.

The dollar made gains for the last four consecutive days against the PKR during this week. The higher import payment demand on the last trading day kept the pressure on the local currency.

Currency experts said that dollar demand for external payments remained high. They said that the rising deficit in trade and the current account is also a major concern for the market.

They said that the country needed an immediate flow of the foreign currency to discharge external payment liabilities without pressure on the exchange rate.

The local unit lost Rs1.63 against the dollar during the past four trading days. The exchange rate was closed at Rs165.62 on August 27, 2021.

The US dollar has continued its upward trajectory against the Pakistani Rupee (PKR), reaching a year high of Rs166.98 in the interbank foreign exchange market on Thursday.

KARACHI: The US dollar made gains for the third consecutive day against the Pak Rupee (PKR) on Wednesday. The local currency fell due to external payment demand.

The rupee depreciated by 48 paisas against the dollar. The local currency ended Rs166.87 to the dollar from the previous day’s closing of Rs166.39 in the interbank foreign exchange market.

The PKR fell by Rs1.25 against the greenback during the last three days of trading. The rupee ended at Rs165.62 to the dollar on Friday, August 27, 2021.

KARACHI: The US dollar made a comeback against the Pak Rupee (PKR) on Monday and gained 34 paisas in the interbank foreign exchange market.

The trading in the interbank foreign exchange market ended at Rs165.96 to the dollar from last Friday’s closing at Rs165.62.

Currency experts said that the dollar demand remained high during the day as the market opened after two weekly holidays.

It is worth mentioning that the rupee recovered during the last two days of the last week. However, the dollar rebounded today owing to higher demand for import payments.

KARACHI: The Pak Rupee (PKR) gained 19 paisas against the dollar on Friday owing to inflows of export receipts and workers’ remittances.

The PKR ended at Rs165.62 to the dollar as compared with the previous day’s closing of Rs165.82 in the interbank foreign exchange market.

Currency experts said that the market witnessed sufficient supply of dollars from export receipts and workers’ remittances. The dollar inflows helped the rupee to make gains.

They however said that demand for import payment remained high due to last trading of the day.

KARACHI: In a positive turn of events, the Pakistani Rupee (PKR) demonstrated resilience on Thursday, recovering 47 paisas against the US Dollar.

In midday trading on Thursday, the US dollar exhibited a decline against the Pakistani Rupee (PKR), marking a shift from its earlier gains in the day.