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 eases by 7 paisas against dollar

    Rupee eases by 7 paisas against dollar

    KARACHI: The Pak Rupee ended down by 7 paisas against dollar on Wednesday owing to demand for import and corporate payments.

    The rupee ended Rs168.26 to the dollar from previous day’s closing of Rs168.19 in interbank foreign exchange market.

    Currency experts said that the demand of the foreign currency for import and corporate payments resulted in depreciation of the local unit.

    The experts hoped that the local currency would rebound in coming days owing to significant inflows of export and remittances.

    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.

  • Rupee eases amid record monthly inflows of remittances

    Rupee eases amid record monthly inflows of remittances

    KARACHI: The Pak Rupee ended down by two paisas against dollar on Tuesday amid record remittances received by the central bank.

    The rupee ended Rs168.19 to the dollar from previous day’s closing of Rs168.17 in interbank foreign exchange market.

    Currency experts said that reports of record remittances received by the State Bank of Pakistan (SBP) helped the rupee to avoid significant depreciation against the foreign currency.

    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.

  • Rupee ends down by 24 paisas against dollar

    Rupee ends down by 24 paisas against dollar

    KARACHI: The Pak Rupee ended down by 24 paisas against dollar on Monday owing to higher demand for import and corporate payments as market opened after long holidays.

    The rupee ended Rs168.17 to the dollar as against the closing of August 13, 2020 at Rs167.93 in interbank foreign exchange market.

    Currency experts said that the market was opened after three holidays and it resulted in higher demand for import and corporate payments.

    The market was remained closed on August 14, 2020 on account of Independence Day and further two days closure due to weekly holidays.

    The experts said that the local unit likely to rebound in coming days on back of improved inflows of workers’ remittances and export receipts.

    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 State Bank of Pakistan (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.

  • Rupee strengthens by 15 paisas on inflows

    Rupee strengthens by 15 paisas on inflows

    KARACHI: The Pak Rupee gained another 15 paisas against dollar on Thursday owing to inflows of export and workers remittances.

    The rupee ended Rs167.93 to the dollar from previous day’s closing of Rs168.08 in interbank foreign exchange market.

    Currency analysts said that the rupee gained value for the third consecutive day. They said that the inflows of export receipts and workers remittances helped the rupee to gain value.

    They further said that lower demand for import payment also helped the local unit.

  • Rupee gains 20 paisas on improved export receipts

    Rupee gains 20 paisas on improved export receipts

    KARACHI: The Pak Rupee gained 20 paisas against dollar on Wednesday owing to improved inflows of export receipts and workers remittances.

    The rupee ended Rs168.07 to the dollar from previous day’s closing of Rs168.27 in interbank foreign exchange market.

    Currency experts said that inflows of export receipts and workers remittances were sufficient to support the local currency and meet demand for import and corporate payments.

    The experts said that the foreign inflows would help the local currency to further appreciate in coming days.

    The liquid foreign exchange reserves of the country increased by $651 million by week ended July 30, 2020 owing to foreign inflows.

    The total foreign exchange reserves of the country increased by $651 million to $19.563 billion by week ended July 30, 2020 as compared with $18.912 billion a week ago.

    The official foreign exchange reserves of the SBP increased by $566 million to $12.542 billion by week ended July 20, 2020 as compared with $11.976 billion a week ago.

  • Rupee recovers 11 paisas against dollar

    Rupee recovers 11 paisas against dollar

    KARACHI: The rupee recovered 11 paisas against dollar on Tuesday after ease in demand for import and corporate payments.

    The rupee ended Rs168.27 to the dollar from previous day’s closing of Rs168.38 in interbank foreign exchange market.

    Currency experts said that ease in demand from import and corporate side helped the rupee to recover last day’s losses.

    The experts further said that the foreign inflows received by the central bank during past couple of weeks would help the rupee to further gain the value.

    The liquid foreign exchange reserves of the country increased by $651 million by week ended July 30, 2020 owing to foreign inflows.

    The total foreign exchange reserves of the country increased by $651 million to $19.563 billion by week ended July 30, 2020 as compared with $18.912 billion a week ago.

    The official foreign exchange reserves of the SBP increased by $566 million to $12.542 billion by week ended July 20, 2020 as compared with $11.976 billion a week ago.

  • Rupee slips by 50 paisas on import payment demand

    Rupee slips by 50 paisas on import payment demand

    KARACHI: The Pak Rupee has slipped by 50 paisas against dollar on Monday owing to higher demand for import and corporate payment on the first day of the week.

    The rupee ended Rs168.38 to the dollar from last Friday’s closing of Rs167.88 in interbank foreign exchange market.

    Currency experts said that the demand was seen for the foreign currency as market was opened after two weekly holidays.

    The experts however said that external inflows would help the rupee to rebound in coming days.

    The liquid foreign exchange reserves of the country increased by $651 million by week ended July 30, 2020 owing to foreign inflows.

    The total foreign exchange reserves of the country increased by $651 million to $19.563 billion by week ended July 30, 2020 as compared with $18.912 billion a week ago.

    The official foreign exchange reserves of the SBP increased by $566 million to $12.542 billion by week ended July 20, 2020 as compared with $11.976 billion a week ago.

  • Rupee gains 25 paisas against dollar

    Rupee gains 25 paisas against dollar

    KARACHI: The Pak Rupee gained 25 paisas against dollar on Friday owing to improved foreign exchange reserves of the country.

    The rupee ended Rs167.88 to the dollar from previous day’s closing of Rs168.13 in interbank foreign exchange market.

    Currency experts said that the rupee made recovery for second consecutive day owing to improved inflows of the foreign currency.

    The liquid foreign exchange reserves of the country increased by $651 million by week ended July 30, 2020 owing to foreign inflows.

    The total foreign exchange reserves of the country increased by $651 million to $19.563 billion by week ended July 30, 2020 as compared with $18.912 billion a week ago.

    The official foreign exchange reserves of the SBP increased by $566 million to $12.542 billion by week ended July 20, 2020 as compared with $11.976 billion a week ago.

  • Rupee recovers 10 paisas on improved export receipts

    Rupee recovers 10 paisas on improved export receipts

    KARACHI: The Pak Rupee recovered 10 paisas against dollar on Thursday after ease in demand for import payments and report of improved export receipts.

    The rupee ended Rs168.13 to the dollar from previous day’s closing of Rs168.23 in interbank foreign exchange market.

    Currency experts said that improved inflows of export receipts and remittances helped the rupee to make recovery.

    The rupee fell by around Rs1.25 against dollar during first three trading days of the current week.

    The experts said that the rupee likely to improve in coming days due to improved inflows of export receipts and workers remittances.

    The exports of the country increased by 25 percent in July 2020 as compared with the previous month owing to enhance in economic activities after ease in lockdown, according to data released by Pakistan Bureau of Statistics (PBS) a day earlier.

    The country’s exports were at $2 billion in July 2020 as compared with $1.59 billion in June 2020.

    The rise in exports may be attributed to ease in lockdown and resumption of economic activities during July 2020. The lockdown was imposed since March 2020 to prevent the spread of coronavirus.

    The import bill during July 2020 fell by 2 percent to $3.64 billion as compared with $3.72 billion in June 2020.

    The trade deficit shrank by 22.64 percent to $1.64 billion in July 2020 as compared with deficit of $2.12 billion in June 2020.

    The exports in July 2020 registered an increase of 6.04 percent when compared with $1.88 billion in July 2019.

    The import bill in July 2020 fell by 2 percent when compared with $3.7 billion in July 2019.

    The trade deficit reduced by 10.24 percent in July 2020 when compared with deficit of $1.82 billion in July 2019.

  • Rupee weakens by 59 paisas against dollar

    Rupee weakens by 59 paisas against dollar

    KARACHI: The Pak Rupee weakened by 59 paisas against dollar for third consecutive day on Wednesday owing to higher demand for import and corporate payments.

    The rupee ended Rs168.23 to the dollar from previous day’s closing of Rs167.64 in interbank foreign exchange market.

    The rupee fell by around Rs1.25 against dollar during last three trading days.

    Currency experts said that due to improved economic activities there was higher demand of the foreign currency for import payments, especially import of raw material.

    In order to curb the prevention of coronavirus the government imposed lockdown across the country in March 2020 and it was gradually eased considering the lower number of reported cases.

    From August 03 the official timing of government offices has been restored to normal working hours.

    The experts said that the rupee likely to rebound in coming days due to improved inflows of export receipts and workers remittances.