Tag: Interbank Foreign Exchange Market

KARACHI: The Pak Rupee appreciated by 21 paisas against the dollar on Tuesday as positive sentiments prevailed after inflows of export receipts.

The rupee ended Rs159.35 to the dollar from previous day’s close of Rs159.56 in the interbank foreign exchange market.

Currency experts said that better exports had supported the local 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 gained 43 paisas against the dollar on Monday owing to record export receipts during the last four months.

The rupee ended Rs159.56 to the dollar from last Thursday’s closing of Rs159.99 in the interbank foreign exchange market.

It is interesting to note that the rupee made gains despite closure of the market for the last three days as last Friday February 05, 2021 was declared as Kashmir Solidarity Day.

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 gained 19 paisas against the dollar on Thursday despite the higher demand for dollar ahead of holidays.

The rupee ended Rs159.99 to the dollar from the previous day’s closing of Rs160.18 in the interbank foreign exchange market.

Currency dealers said that the market witnessed sufficient supply of the foreign currency in the shape of export receipts and workers’ remittances.

They said the demand for import and corporate payments was also high because of upcoming three straight holidays.

The government has announced public holiday on Friday February 05, 2021 on account of Kashmir Solidarity Day. It will follow with two weekly holidays, making three straight holidays.

KARACHI: The Pak Rupee ended down by two paisas against the dollar on Wednesday owing to escalating demand for the foreign currency for import and corporate payments.

The rupee ended Rs160.18 to the dollar from the previous day’s closing of Rs160.16 in the interbank foreign exchange market.

Currency dealers said that the market witnessed higher demand of the foreign currency for import and corporate payments ahead of long week-end holidays.

The government has announced a public holiday on February 05 (Friday) to mark Kashmir solidarity day. It will be along with two weekly holidays ahead making three holidays.

The dealers remained optimistic that the rupee would regain the values in coming days owing to lower growth in headline inflation and improved exports numbers.

The growth in headline inflation contracted by 5.7 percent on a year on year basis in January 2021 as compared to an increase of 8.0 percent in the previous month and 14.6 percent in January2020.

On a month-on-month basis, it decreased by 0.2 percent in January 2021 as compared to a decrease of 0.7 percent in the previous month and an increase of 2.0 percent in January 2020.

KARACHI: The Pak Rupee recovered six paisas against the dollar on Tuesday owing to lower growth in inflation for the first month of the current year.

The rupee ended Rs160.16 to the dollar from the previous day’s closing of Rs160.22 in the interbank foreign exchange market.

The rupee depreciated by 12 paisas on the first day of the current week owing to higher demand for import and corporate payments.

Currency dealers said that the market remained positive during the day due to ease in inflation growth for the month of January 2021.

The growth in headline inflation contracted by 5.7 percent on a year on year basis in January 2021 as compared to an increase of 8.0 percent in the previous month and 14.6 percent in January2020.

On a month-on-month basis, it decreased by 0.2 percent in January 2021 as compared to a decrease of 0.7 percent in the previous month and an increase of 2.0 percent in January 2020.

KARACHI: The Pak Rupee ended down by 12 paisas against the dollar on Monday owing to higher demand of the foreign currency against import and corporate payments as market opened after two weekly holidays.

The rupee ended Rs160.22 to the dollar from last Friday’s closing of Rs160.10 in the interbank foreign exchange market.

The currency dealers said that higher demand was witnessed during the day as market was opened after two weekly holidays.

They however said that the improved economic indicators would help the local currency to gain value.

KARACHI: The Pak Rupee made gains against the dollar for the fourth straight trading day on Friday owing to improved export receipts and workers’ remittances, dealers said.

The rupee gained 18 paisas to close at Rs160.10 against the dollar from the previous day’s closing of Rs160.28 in the interbank foreign exchange market.

The rupee made gain against the foreign currency for the fourth consecutive trading day as the exchange rate was at Rs160.79 to the dollar on Monday January 25, 2021 and ended the week at Rs160.10 on January 29, 2021, showing a gain of 69 paisas against the dollar.

The dealers said that the sentiments remained positive in the market owing to resumption of talks between the government and the IMF.

Further, the dealers hoped sufficient supply of the dollar into the market owing to improved export receipts and workers’ remittances in coming months.

KARACHI: The Pak Rupee appreciated by 26 paisas against the dollar on Thursday on improved inflows of export receipts and workers’ remittances.

The rupee ended at Rs160.28 to the dollar from previous day’s closing of Rs160.54 in the interbank foreign exchange market.

Currency dealers said that the market witnessed better supply of the greenback that that helped the local currency to make gain.

The dealers expected the better inflows likely to help the local currency to make further gain in coming days.

KARACHI: The Pak rupee gained 10 paisas against the dollar on Wednesday owing sufficient supply of the foreign currency to meet demand for import and corporate payments.

The rupee ended Rs160.54 to the dollar from previous day’s closing of Rs160.64 in the interbank foreign exchange market.

Currency dealers said that the market witnessed sufficient supply of the greenback which was higher than the demand for import and corporate payments.

The dealers hoped that that improved economic indicators would help the rupee to make further gains in coming days.

KARACHI: The Pak Rupee gained 15 paisas against the dollar on Tuesday owing to improved supply of the foreign currency, dealers said.

The rupee ended Rs160.64 to the dollar from previous day’s close of Rs160.79 in interbank foreign exchange market.

The dealers said that the improved supply of the greenback helped the rupee to make gain.

They said that the positive sentiments prevailed following expectations of strong inflows of remittances during the coming months.

The ministry of finance in its report released on January 26, 2021 hoped that the inflows of remittances would remains strong to support financing the trade deficit.

However, the ministry was confident that the trade balance would remain under control during the current fiscal year.