Tag: Interbank Foreign Exchange Market

KARACHI: The Pak Rupee gained four paisas against the dollar on Tuesday owing to sufficient supply of the foreign currency to meet payment demand.

The rupee ended Rs157.04 to the dollar from previous day’s closing of Rs157.08 in the interbank foreign exchange market.

Currency dealers said that the market witnessed supply of the dollar during the day which was sufficient to meet payment for import and corporate demand.

They said that the market was remained optimistic and hopes of inflows in shape of workers’ remittances and export receipts the rupee likely to make more gain in coming days.

KARACHI: The Pak Rupee gained four paisas against the dollar on Monday owing to positive sentiments prevailed in the foreign exchange market.

The rupee ended Rs157.08 to the dollar from previous day’s closing of Rs157.12 in the interbank foreign exchange market.

Currency dealers said that foreign inflows of workers’ remittances and export receipts helped the rupee to make gain despite demand for import and corporate payments.

The dealers said that the optimism prevailed on economic growth after confidence vote win by the prime minister in the parliament.

KARACHI: The Pak Rupee made a gain of four paisas against the dollar on Friday despite demand for import and corporate payments on last trading of the week.

The rupee ended at Rs157.12 to the dollar from previous day’s closing of Rs157.16 in the interbank foreign exchange market.

Currency experts said that demand for the foreign currency was remained high due to upcoming two weekly holidays. However, inflows of workers’ remittances and export receipts helped the rupee to make gain.

The export receipts have increased by 4.3 percent to $16.3 billion during first eight months (July – February) 2020/2021 as compared with $15.6 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

KARACHI: The Pak Rupee ended down by three paisas against the dollar on Thursday owing to demand for import and corporate payments.

The rupee ended Rs157.16 to the dollar from previous day’s closing of Rs157.13 in the interbank foreign exchange market.

The rupee fell on Thursday after maintaining eight-day streak of appreciation against the foreign currency.

The exchange rate was at Rs159.10 on February 19, 2021. However, the local currency recovered Rs1.97 against the greenback in the interbank foreign exchange market till March 03, 2021.

The currency experts said that the growth in export receipts and inflows of workers remittance helped the rupee to make gains.

The Pakistani Rupee demonstrated resilience, gaining 72 paisas against the US Dollar on Wednesday. The surge is attributed to the sustained growth in export receipts witnessed throughout the current fiscal year.

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KARACHI: The US dollar retreated for seventh consecutive trading days after falling another 19 paisas against the local unit on Tuesday.

The exchange rate was at Rs159.10 on February 19, 2021. Since then the local currency recovered Rs1.25 against the dollar in interbank foreign exchange market.

On Tuesday the rupee closed at Rs157.85 to the dollar from previous day’s closing of Rs158.04 in the interbank foreign exchange market.

Currency experts said that with the dip of 19 paisas the US dollar was at nearly one-year low in Interbank, trading at Rs157.85 as it was Rs157.35 on March 10, 2020. The dollar has fallen by 6.4 percent since its peak lost around Rs10.58 since August 26, 2020 when it was at record high of Rs168.43.

The currency experts said that the rupee may make more gains in coming days owing to improved inflows of workers’ remittances and export receipts.

KARACHI: The Pak Rupee gained six paisas against the dollar on Monday owing to better inflows of the foreign exchange, dealers said.

The rupee ended at Rs158.04 to the dollar from last Friday’s closing of Rs158.10 in the interbank foreign exchange market.

It was the sixth straight trading day when the rupee maintained its recovery against the greenback. The exchange rate was at Rs159.10 on February 19, 2021. However, since then the local currency recovered Re1.06 against the greenback in the interbank foreign exchange market.

Currency experts said that the rupee may make more gains in coming days owing to improved inflows of workers’ remittances and export receipts.

KARACHI: The Pak Rupee maintained its recovery against the dollar for five consecutive trading days on Friday owing to optimism prevailed especially after FATF praised Pakistan for taking measures against money laundering and financing the terrorism.

The rupee gained by 36 paisas to close at Rs158.10 to the dollar on Friday as compared with previous day’s close of Rs158.46 in the interbank foreign exchange market.

Currency experts said that despite the last trading day of the week the rupee had gained value against the greenback. They said that though there was pressure on local currency due to demand of the dollar for import and corporate payments. However, supply was sufficient to meet the demand, they added.

They said that the FATF a day earlier decided to keep Pakistan in the grey list until June this year. However, remarks of the FATF panel were encouraging as Pakistan had shown strong commitment to deter money laundering and terror financing.

The exchange rate was at Rs159.10 on February 19, 2021. However, since then the local currency recovered Re1 against the greenback in the interbank foreign exchange market.

Currency experts said that the rupee may make more gains in coming days owing to improved inflows of workers’ remittances and export receipts.

KARACHI: The Pak Rupee has maintained steady gain against the dollar for the last four trading days on Thursday owing to improved inflows of workers’ remittances and export receipts.

The rupee appreciated by 30 paisas against the dollar to close at Rs158.46 on Thursday from previous day’s closing of Rs158.76 in the interbank foreign exchange market.

The exchange rate was at Rs159.10 on February 19, 2021. However, since then the local currency recovered 64 paisas against the greenback in the interbank foreign exchange market.

Currency experts said that the rupee may make more gains in coming days owing to improved inflows of workers’ remittances and export receipts.

KARACHI: The Pak Rupee made a gain of 13 paisas against the dollar on Wednesday owing to positive sentiments prevailed over improved foreign inflows, dealers said.

The rupee ended Rs158.76 to the dollar from the previous day’s closing of Rs158.89 in the interbank foreign exchange market.

The currency dealers said that the positive indicators helped the local unit to make gain.

They said that the foreign inflows in the shape of exports receipts and workers’ remittances helped the market to move positively.

This is the second straight day when the rupee made gain against the greenback. A day earlier the local unit gained 18 paisas against the dollar.