Tag: Interbank Foreign Exchange Market

KARACHI: The Pak Rupee ended firmer against the dollar on Wednesday amid higher demand for import and corporate payments.

The rupee ended Rs160.48 to the dollar from previous day’s closing of Rs160.47 in the interbank foreign exchange market.

Currency dealers said that the demand for import and corporate payments were higher during the day. They said rising demand of the foreign currency from corporate side normally seen on the higher side in the month of December due to closing of the quarter.

They said that the market also witnessed supply of the dollar in the shape of export receipts and workers remittances.

KARACHI: The Pak Rupee ended down by 15 paisas against the dollar on Tuesday owing to higher demand for import and corporate payments.

The rupee ended Rs160.47 to the dollar from previous day’s closing of Rs160.32 in the interbank foreign exchange market.

Currency dealers said that the demand for import and corporate payments were higher during the day. They said rising demand of the foreign currency from corporate side normally seen on the higher side in the month of December due to closing of the quarter.

They said that the market also witnessed supply of the dollar in the shape of export receipts and workers remittances. However, such inflows were not sufficient to support the rupee.

KARACHI: The Pak Rupee fell by 19 paisas against the dollar on Monday owing to higher demand for import and corporate payments.

The rupee ended Rs160.32 to the dollar from last Friday’s closing of Rs160.13 in the interbank foreign exchange market.

Currency experts said that the higher dollar demand was due to the market was opened after two days weekly holidays.

They hoped that they the local currency likely to gain in coming days due to strong economic fundamentals.

Rupee depreciates by 10 paisas against dollar

KARACHI: The Pak Rupee made four paisas gain against the dollar on Friday amid demand for import and corporate payments.

The rupee ended Rs160.13 to the dollar from previous day’s closing of Rs160.17 in the interbank foreign exchange market.

Currency dealers said that the demand for the foreign currency was higher due to last trading day of the current week.

They said that however supply of the greenback was sufficient to help the rupee to make gain.

The currency dealers were optimistic that the local currency would make gain in coming days owing to encouraging economic indicators.

KARACHI: The Pak Rupee strengthened by 29 paisas against the dollar on Thursday owing to reports of growth in exports of the country.

The rupee ended Rs160.17 to the dollar from previous day’s closing of Rs160.46 in the interbank foreign exchange market.

Currency dealers said that the market witnessed supply of the foreign currency that was more than the demand for import and corporate payments.

They said that reportedly exports were had maintained over $2 billion value in November 2020.

KARACHI: The Pak Rupee fell by 64 paisas against the dollar on Wednesday owing to payment demand for import and corporate payments.

The rupee ended 160.46 to the dollar from the previous day’s closing of Rs159.82 in the interbank foreign exchange market.

Currency dealers said that the demand for import and corporate payments was higher during the day.

They said that the market had also seen supply of the dollar but was not sufficient to help the local currency.

Rupee depreciates by 10 paisas against dollar

KARACHI: The Pak Rupee fell by 40 paisas against the dollar on Tuesday owing to payment demand for import and corporate payments.

The rupee ended 159.82 to the dollar from the previous day’s closing of Rs159.42 in the interbank foreign exchange market.

Currency dealers said that the demand for import and corporate payments was higher during the day.

They said that the market had also seen supply of the dollar but was not sufficient to help the local currency.

KARACHI: The Pak Rupee gained four paisas against the dollar on Monday despite demand for import and corporate payments.

The rupee ended Rs159.42 to the dollar form last Friday’s close of Rs159.46 in the interbank foreign exchange market.

Currency dealers said that the market witnessed demand for the dollars because of the first trading day of the week and the market opened after two weekly holidays.

They said that the supply of the greenback was sufficient to offset the demand and helped the local currency to make gain.

The dealers said that the local currency likely to make gain in coming days owing to improved economic indicators, including the foreign exchange reserves of the country.

The liquid foreign exchange reserves of the country have increased by $467 million to $20.552 billion by week ended November 20, 2020. The foreign exchange reserves of the country were at $20.085 billion by week ended November 13, 2020.

The official reserves of the SBP increased by $484 million to $13.415 billion by week ended November 20, 2020 as against $12.931 billion a week ago. The SBP attributed the increase to official government inflows.

KARACHI: The Pak Rupee fell by 20 paisas against the dollar on Friday owing to higher demand of the foreign currency for import and corporate payments.

The rupee ended at Rs159.46 to the dollar from the previous day’s closing of Rs159.26 in the interbank foreign exchange market.

Currency dealers said that the higher demand of the greenback was seen due to upcoming weekly holidays.

Experts believed that the rupee is likely to gain value against the dollar in coming days due to improved economic indicators and increase in the foreign exchange reserves.

The liquid foreign exchange reserves of the country have increased by $467 million to $20.552 billion by week ended November 20, 2020, State Bank of Pakistan (SBP) said a day earlier.

The foreign exchange reserves of the country were at $20.085 billion by week ended November 13, 2020.

The official reserves of the SBP increased by $484 million to $13.415 billion by week ended November 20, 2020 as against $12.931 billion a week ago.

The SBP attributed the increase to official government inflows.

The reserves held by commercial banks eased by $17 million to $7.137 billion by week ended November 20, 2020 as against $7.154 billion a week ago.

KARACHI: The Pak Rupee ended firmer against the dollar on Thursday as inflows were sufficient to meet the demand for import and corporate payments.

The rupee ended Rs159.26 to the dollar from previous day’s closing of Rs159.27 in the interbank foreign exchange market.

Currency dealers said that the supply of the foreign currency was sufficient to meet the demand for import and corporate payments.

Rupee depreciates by 10 paisas against dollar