Tag: Interbank Foreign Exchange Market

KARACHI: The Pak Rupee gained 20 paisas against the dollar on Wednesday owing to inflows of workers’ remittances and export receipts.

The rupee ended Rs153.04 to the dollar from previous day’s closing of Rs153.24 in the interbank foreign exchange market.

Currency dealers said that the rupee was appreciated due to inflows of Eid related remittances. They said that overseas Pakistanis usually send money to their relatives for Eid celebrations.

They further said that the positive sentiments were prevailed as exports receipts were over $2 billion for the last 10 consecutive month in April 2021.

KARACHI: The Pak Rupee gained 12 paisas against the dollar on Tuesday owing to inflows of workers’ remittances and export receipts.

The rupee ended Rs153.24 to the dollar from previous day’s closing of Rs153.36 in the interbank foreign exchange market.

Currency experts said that the rupee was appreciated due to inflows of Eid related remittances.

They said that overseas Pakistanis usually send money to their relatives for Eid celebrations.

KARACHI: The Pak Rupee gained nine paisas against the dollar on Monday owing to improved inflows of export receipts.

The rupee ended Rs153.36 to the dollar from last Friday’s closing of Rs153.45 in the interbank foreign exchange market.

Currency experts said that the inflows of export receipts helped the rupee to make gain on the first day of the week.

The exports have maintained over $2 billion in April 2021. Exports for July-April 2021 grew by 13 percent to $20.879 billion as compared to $18.408 billion during the same period last year.

The experts said that the inflows of exports, remittances and other foreign receipts would help the rupee to maintain levels in coming days.

KARACHI: The Pak Rupee made a gain of 17 paisas against the dollar on Friday owing to improved external position of the country.

The rupee ended Rs153.45 to the dollar from previous day’s closing of Rs153.62 in the interbank foreign exchange market.

Currency experts said that the rupee further made recovery despite dollar demand for import and corporate payments.

They said that the rupee likely to maintain its recovery against the greenback owing to strong external position such as: current account surplus, improved workers’ remittances and export receipts.

KARACHI: The Pak Rupee gained 26 paisas against the dollar on Thursday owing to improved economic indicators and suspension of loan repayment for Pakistan.

The rupee ended Rs153.62 to the dollar from previous day’s closing of Rs153.88 in the interbank foreign exchange market.

Currency experts said that market was remained optimistic owing to current account surplus during first nine months of the current fiscal year.

Besides, sentiments were also improved owing to suspension of loan repayment by G-20 countries.

KARACHI: The Pak Rupee fell against the dollar for seventh straight day on Tuesday as demand for import and corporate payment remained high.

The rupee fell by 37 paisas on Tuesday to close at Rs154.50 against the dollar from previous day’s closing of Rs154.13 in the interbank foreign exchange market.

The rupee has started falling against the dollar from mid of the current month. So far the rupee has been weakened by Rs1.68 against the dollar during last seven trading days or since April 15, 2021.

The currency experts said that high import payment to meet local demand had jacked up the rupee value.

The Pakistani rupee weakened by another 26 paisas against the US dollar on Monday, closing at Rs154.13 in the interbank foreign exchange market. This depreciation comes as demand for the greenback continues to rise due to import and corporate payment requirements.

KARACHI: The Pak Rupee fell by 41 paisas against the dollar on Friday owing to higher demand for import and corporate payments ahead of weekly holidays.

The rupee ended Rs153.87 to the dollar from previous day’s closing of Rs 153.46 in the interbank foreign exchange market.

Currency dealers said that the market witnessed demand for the foreign currency due to two weekly holidays ahead. They said that corporate sector was seen engaged in buying the greenback to repatriate profit and dividends to their parents companies abroad.

They however said that the buffer stock of foreign exchange reserves, home remittances and export receipts would help the local currency to make gain in coming days.

KARACHI: The Pak Rupee fell by 23 paisas against the dollar on Thursday owing to rising demand for the foreign currency for import and corporate payments.

The rupee ended Rs153.46 to the dollar from previous day’s closing of Rs153.23 in the interbank foreign exchange market.

The currency dealers said that demand for imported goods increased due to rising domestic supplies. Further, the dollar demand was also increased due to corporate payment demand as foreign companies repatriate their profit and dividends after closing of a quarter.

The dealers hoped that the local currency would recover in coming days due to improved remittances and export receipts.