Tag: Interbank Foreign Exchange Market

KARACHI: The Pak Rupee gained 18 paisas against the dollar on Tuesday owing to improved supply of the foreign currency and current account remained in surplus during the first seven months of the current fiscal year, dealers said.

The rupee ended Rs158.89 to the dollar as compared with the previous day’s closing of Rs159.07 in the interbank foreign exchange market.

The dealers said that the market had witnessed improved supply of the foreign currency during the day that was sufficient to meet import and corporate demands.

Besides, they said that the current account of the country remained in surplus during the first seven months of the current fiscal year.

They said that the improved inflows of workers’ remittances and export receipts would help the local unit to make further gains in coming days.

KARACHI: The Pak Rupee gained three paisas against the dollar on Monday owing to improved inflows of workers’ remittances and export payments, dealers said.

The rupee ended Rs159.07 to the dollar from last Friday’s closing of Rs159.10  in the interbank foreign exchange market.

Currency dealers said that the market witnessed higher demand of the foreign currency due to market was opened after two weekly holidays.

However, inflows of workers’ remittances and export payments helped the rupee to make gains.

They said that due to fall in coronavirus cases the market was remained optimistic and dollar demand for import payment was gradually rising.

They, however, optimistic that the inflows of export receipts and workers’ remittances would help the local unit to gain values in coming days.

KARACHI: The Pak Rupee lost 17 paisas against the dollar on Friday owing to payment demand related to import and corporate, dealers said.

The rupee ended Rs159.10 to the dollar from previous day’s closing of Rs158.93 in the interbank foreign exchange market.

Currency dealers said that the market witnessed higher demand of the foreign currency due to upcoming two weekly holidays.

They said that due to fall in coronavirus cases the market was remained optimistic and dollar demand for import payment was gradually rising.

They, however, optimistic that the inflows of export receipts and workers’ remittances would help the local unit to gain values in coming days.

KARACHI: The Pak Rupee appreciated by 33 paisas against the dollar on Thursday owing to improved inflows of workers’ remittances and export receipts.

The rupee ended Rs158.93 to the dollar from the previous day’s closing of Rs159.26 in the interbank foreign exchange market.

Currency experts said that the inflows of the foreign currency into Roshan Digital Accounts, workers remittances and export receipts helped the rupee to make gains against the greenback.

The inflows in Roshan Digital Account increased to $500 million.

The experts hoped that the local currency would gain more value in coming days owing to positive sentiments prevailing over inflows from IMF and workers remittances.

KARACHI: The Pak Rupee made gain of 28 paisas against the dollar on Wednesday after positive sentiments prevailed on upcoming transfers of $500 million from the International Monetary Fund (IMF).

The rupee ended Rs159.26 to the dollar from previous day’s closing of Rs159.54 in the interbank foreign exchange market.

Currency experts said that market was remained positive over an agreement between the IMF and the government of Pakistan.

After the approval of IMF board the country will received a tranch of $500 million.

Besides, they said that the market was also optimistic about gain in rupee value owing to improved inflows of workers’ remittances and export receipts.

KARACHI: The Pak Rupee fell by 27 paisas against the dollar on Tuesday owing to demand for import and corporate payments.

The rupee ended Rs159.54 to the dollar from previous day’s closing of Rs159.27 in the interbank foreign exchange market.

Currency dealers said that the local currency was under pressure because of oil import bill as international oil prices were increasing.

The dealers said that normalcy returned in the global economies following the launch of coronavirus vaccine.

The Pakistani Rupee experienced a depreciation of 45 paisas against the US Dollar on Monday, ending the day at Rs159.27 in the interbank foreign exchange market. This decline comes after a period of consecutive gains, attributed to heightened demand for import and corporate payments.

(more…)

KARACHI: The Pak Rupee appreciated for six consecutive trading days against the dollar on Friday owing to improved inflows of export receipts and workers’ remittances.

The rupee gained 25 paisas to end at Rs158.82 to the dollar from previous day’s closing of Rs159.07 in the interbank foreign exchange market.

The appreciation in the rupee value has been continued for the last six consecutive days. The rupee gained around Rs1.36 against the dollar after closing at Rs160.18 on February 03, 2021.

Currency experts said that improved inflows of export receipts and workers’ remittances helped the rupee to make gain against the foreign currency.

Pakistan’s exports have crossed over $2 billion for the fourth consecutive months in January 2021 for the first time in last eight years, a official statement said.

KARACHI: The Pak Rupee strengthened against the dollar for five consecutive trading days on Thursday owing to improved inflows of export receipts and workers’ remittances.

The rupee made gain of 24 paisas to close at Rs159.07 to the dollar on Thursday from previous day’s closing of Rs159.31 in the interbank foreign exchange market.

The rupee was at Rs160.18 to the dollar on February 03, 2021. However, since last five trading days the rupee gained value of Rs1.11 against the dollar.

Currency experts said that improved inflows of export receipts and workers’ remittances helped the rupee to make gain against the foreign currency.

The Pakistani Rupee demonstrated resilience in the foreign exchange market on Wednesday, making a noteworthy advancement of 04 paisas against the US Dollar.

(more…)