Tag: Pak Rupee

Pakistan Revenue is committed to providing accurate exchange rates in Pak Rupee for foreign currencies, helping readers stay informed about the fluctuating value of the Pak Rupee in the market.

  • Rupee recovers 12 paisas against dollar

    Rupee recovers 12 paisas against dollar

    KARACHI: The Pak Rupee recovered 12 paisas against dollar on Thursday owing to improved economic indicators, dealers said.

    The rupee ended Rs166.40 to the dollar from previous day’s closing of Rs166.52 in interbank foreign exchange market.

    Currency experts said that positive sentiments prevailed in the foreign exchange market due to launching of roshan digital accounts by the State Bank of Pakistan (SBP) for overseas Pakistanis.

    They said that the investors hoped significant inflows of the foreign currency under this initiative of the government.

    The rupee recovered the value after losing 76 paisas during first three days of the current week.

  • Rupee eases by nine paisas against dollar

    Rupee eases by nine paisas against dollar

    KARACHI: The Pak Rupee depreciated by nine paisas against dollar on Wednesday owing to higher demand for import and corporate payment.

    The rupee ended Rs166.52 to the dollar from previous day’s closing of Rs166.43 in interbank foreign exchange market.

    Currency experts said that the market witnessed dollar demand for import and corporate payment. They said that improved activities in trade and industry rose the demand for imported goods.

    They said that the inflows of remittances and export receipts likely to help the rupee to improve levels against dollar in coming days.

  • Rupee falls by 56 paisas on rising import demand

    Rupee falls by 56 paisas on rising import demand

    The Pakistani Rupee experienced a decline of 56 paisas against the US dollar on Tuesday, driven by increased demand for import and corporate payments, according to currency dealers.

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  • Rupee eases by 10 paisas on import payment demand

    Rupee eases by 10 paisas on import payment demand

    KARACHI: The Pak Rupee eased by 10 paisas against dollar on Monday owing to higher demand for import and corporate payments, dealers said.

    The rupee ended at Rs165.87 to the dollar from last Friday’s closing of Rs165.77 in interbank foreign exchange market.

    The currency experts said that the rupee was under pressure against the foreign currency due to the first day of the week. They said that the rupee may rebound in coming days due to improved foreign exchange reserves of the country.

    The liquid foreign exchange of the country has increased by $121 million to $19.843 billion by week ended August 28, 2020, according to the State Bank of Pakistan (SBP).

    The foreign exchange reserves were at $19.722 billion by week ended August 21.2020.

    The official foreign exchange reserves of the SBP increased by $72 million to $12.713 billion by week ended August 28, 2020 as compared with $12.641 billion a week ago.

    Similarly, the foreign exchange reserves held by commercial banks also increased by $49 million to $7.13 billion by week ended August 28, 2020 as compared with $7.081 billion a week ago.

  • Rupee appreciates by 27 paisas on improved inflows

    Rupee appreciates by 27 paisas on improved inflows

    KARACHI: The Pak Rupee appreciated by 27 paisas against dollar on Friday owing to increase in foreign exchange reserves of the country, dealers said.

    The rupee ended at Rs165.77 to the dollar from previous day’s closing of Rs166.04 interbank foreign exchange market.

    Currency experts said inflows of export receipts and workers remittances helped the local unit to recover the value.

    They further said that the increase in foreign exchange reserves of the country also helped the rupee to improve value.

    The liquid foreign exchange of the country has increased by $121 million to $19.843 billion by week ended August 28, 2020, according to the State Bank of Pakistan (SBP).

    The foreign exchange reserves were at $19.722 billion by week ended August 21.2020.

    The official foreign exchange reserves of the SBP increased by $72 million to $12.713 billion by week ended August 28, 2020 as compared with $12.641 billion a week ago.

    Similarly, the foreign exchange reserves held by commercial banks also increased by $49 million to $7.13 billion by week ended August 28, 2020 as compared with $7.081 billion a week ago.

  • Rupee falls by 44 paisas on import payment demand

    Rupee falls by 44 paisas on import payment demand

    KARACHI: The Pak Rupee fell by 44 paisas against dollar on Thursday owing to demand for import and corporate payments, dealers said.

    The rupee ended Rs166.04 to the dollar from previous day’s closing of Rs165.60 in interbank foreign exchange market.

    Currency experts said that higher demand for import and corporate payments depreciated the rupee value.

    They said that the economic activities had been normalized after lifting the lockdown. The domestic industry requires imported raw material, they added.

    They, however, said that the rupee may recover in coming days owing to improved indicators especially surplus current account and narrowed trade deficit.

  • Rupee eases by six paisas on import, corporate payment demand

    Rupee eases by six paisas on import, corporate payment demand

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

    The rupee ended Rs168.43 to the dollar from previous day’s closing of Rs168.37 in interbank foreign exchange market.

    Currency experts said that demand from importers and corporate buyers were remained higher during the day which depressed the rupee value.

    They said that the improved inflows of workers’ remittances and export receipts may helped the local unit to improve value.

    The balance of payment of the country registered current account surplus i.e. 1.9 percent of the GDP during the first month of the current fiscal year.

    The BOP witnessed a current account deficit of 2.8 percent of the GDP in July 2019.

    The statistics revealed that the current account surplus stood at $424 million in July 2020 as compared with current account deficit of $613 million in the same month of the last year.

    The current account surplus may be attributed to record inflows of workers’ remittances in July 2020. In the month under review the workers’ remittances rose to $2.77 billion. This is the highest ever level of remittances in a single month in Pakistan, according to the SBP.

    The exports also exhibited 6.1 percent growth to $2 billion in July 2020 as compared with $1.88 billion in the same month of the last year. On the other hand the import bill of the country declined by 0.7 percent to $3.68 billion in July 2020 as compared with $3.71 in the same month of the last year.

    The trade deficit narrowed by 7.7 percent to $1.68 billion in July 2020 as compared with the deficit of $1.83 billion in the same month of the last year.

  • Rupee ends down by nine paisas on import, corporate payments demand

    Rupee ends down by nine paisas on import, corporate payments demand

    KARACHI: The Pak Rupee ended down by nine paisas against dollar on Monday owing to higher demand for import and corporate payments, dealers said.

    The rupee ended Rs168.38 to the dollar from last Friday’s closing of Rs168.29 in interbank foreign exchange market.

    Currency experts said that the local currency was under pressure due to higher demand for the greenback as market was opened after weekly holidays.

    They hoped that the local currency likely to rebound in coming days due to sufficient supply of the foreign currency in the shape of export receipts and remittances.

    The liquid foreign exchange reserves of the country increased by $137 million to $19.655 billion by week ended August 13, 2020, State Bank of Pakistan (SBP) said.

    The foreign exchange reserves of the country were at $19.518 billion by week ended August 07, 2020.

    The foreign exchange reserves held by the central bank also increased by $139 million to $12.608 billion by week ended August 13, 2020 as compared with $12.469 billion a week ago.

    The SBP attributed the increase in reserves to proceeds of $249.4 million from Asian Infrastructure Investment Bank (AIIB). Meanwhile, during the week, SBP also made government external debt repayments of $151.0 million.

    The foreign exchange reserves held by commercial banks slightly down by $2 million to $7.047 billion by week ended August 13, 2020 as compared with $7.049 billion a week ago.

  • Rupee gains 9 paisas on inflows

    Rupee gains 9 paisas on inflows

    KARACHI: The Pak Rupee gained nine paisas against dollar on Friday owing to improved external inflows of the country.

    The rupee ended Rs168.29 to the dollar from previous day’s closing of Rs168.38 in interbank foreign exchange market.

    Currency experts said that the external inflows and improved foreign exchange reserves of the country helped the local currency to gain value.

    The liquid foreign exchange reserves of the country increased by $137 million to $19.655 billion by week ended August 13, 2020, State Bank of Pakistan (SBP) said.

    The foreign exchange reserves of the country were at $19.518 billion by week ended August 07, 2020.

    The foreign exchange reserves held by the central bank also increased by $139 million to $12.608 billion by week ended August 13, 2020 as compared with $12.469 billion a week ago.

    The SBP attributed the increase in reserves to proceeds of $249.4 million from Asian Infrastructure Investment Bank (AIIB). Meanwhile, during the week, SBP also made government external debt repayments of $151.0 million.

    The foreign exchange reserves held by commercial banks slightly down by $2 million to $7.047 billion by week ended August 13, 2020 as compared with $7.049 billion a week ago.

  • Rupee ends down by 12 paisas on import payment demand

    Rupee ends down by 12 paisas on import payment demand

    KARACHI: The Pak Rupee ended down by 12 paisas against dollar on Thursday owing to persistent demand for import and corporate payments.

    The rupee ended Rs168.38 to the dollar from previous day’s closing of Rs168.26 in interbank foreign exchange market.

    Currency experts said that the rising economic activities after ease in lockdown had increased the demand for imported goods/raw materials.

    The experts however said that the improved trend in export receipts and workers remittance may help the local currency to rebound in coming days.

    The inflow of workers’ remittances hit monthly record high of $2.77 billion in July 2020.

    In July, workers’ remittances rose to US $ 2.768 billion. “This is the highest ever level of remittances in a single month in Pakistan,” according to the SBP.

    In terms of growth, remittances increased by 36.5 percent over July 2019 (y/y) and 12.2 percent over June 2020 (m/m). Given the impact of Covid-19 globally, this increase in worker’s remittances is encouraging.