Tag: Pak Rupee

KARACHI: The Pak Rupee fell by 14 paisas against the dollar on Tuesday owing to high demand for import and corporate payments.

The rupee ended Rs153.54 to the dollar from previous day’s closing of Rs153.40 in the interbank foreign exchange market.

Currency experts said that the market was under pressure due to dollar demand for import and corporate payments.

They said that due to fiscal year ending in the month of June the corporate buyers were seen active for dollar buying. Furthermore, the demand was also seen for oil import payment.

They however said that the rupee would recover value in coming days owing to sufficient inflows of export receipts and workers’ remittances.

KARACHI: The Pak Rupee gained three paisas against the dollar on Monday despite higher demand of the foreign currency for import and corporate payments.

The rupee ended Rs154.40 to the dollar from last Friday’s closing of Rs154.43 in the interbank foreign exchange market.

Currency experts said that due to first trading day the demand for the foreign currency was seen for import and corporate payments.

They, however, said that the issuance of green bonds and inflows of remittances and export receipts helped the rupee to make gain.

The experts hoped the rupee would make further gains in coming days due to positive sentiments related to foreign inflows and lower demand for import payments ahead of budget 2021/2022 announcement.

KARACHI: The Pak Rupee recovered 41 paisas against the dollar on Friday owing to improved inflows of workers’ remittances and export receipts.

The rupee ended at Rs154.43 to the dollar from previous day’s closing of Rs154.84 in the interbank foreign exchange market.

Currency experts said that the sufficient supply of the foreign currency was available during the day that helped the rupee to recover value.

They said that the rupee witnessed deterioration during past couple of days due to demand of the foreign currency for import payment.

They said that the rupee may make gain in coming days owing to inflows of the foreign currency.

KARACHI: The Pak Rupee ended down by six paisas against the dollar on Thursday due to demand for import and corporate payments.

The rupee closed at Rs154.84 to the dollar from previous day’s closing of Rs154.78 in the interbank foreign exchange market.

Currency experts said that the due to improved GDP growth forecast the domestic demand had increased for imported good.

They also attributed the higher demand of the foreign currency to the government decision for not imposing strict lockdown and using alternate ways to prevent coronavirus pandemic.

The experts said that the improved inflows of export receipts and remittances would help the rupee to gain values in coming days.

KARACHI:The Pak Rupee fell by 41 paisas against the dollar on Wednesday owing to the high demand for import and corporate payments.

The rupee closed at Rs 154.78 to the dollar from previous day’s closing of Rs 154.37 in the interbank foreign exchange market.

Currency experts said that economic growth forecast had escalated the demand for the domestic demand for import goods.

The Pakistani Rupee (PKR) witnessed a sharp decline against the US Dollar on Tuesday, weakening by 67 paisas due to increased demand for import and corporate payments. The rupee closed at Rs154.37 against the dollar in the interbank foreign exchange market, compared to the previous Friday’s closing of Rs153.70.

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KARACHI: The Pak Rupee fell by 34 paisas against the dollar on Monday owing to demand for import and corporate payments.

The rupee ended Rs153.70 to the dollar from last Friday’s closing of Rs153.36 in the interbank foreign exchange market.

Currency experts said that due to first day of the week the demand for import and corporate payments was high.

They said that the improved GDP growth forecast would escalate the domestic demand for imported raw material and finished products.

The rising demand for import payment would depress the local currency in coming days.

KARACHI: The Pak Rupee recovered nine paisas against the dollar on Friday owing to reduction in requirement of statutory liquidity ratio (SLR) for exchange companies.

The rupee ended Rs153.36 to the dollar from previous day’s closing of Rs153.45 in the interbank foreign exchange market.

The rupee was continuously deteriorating against the dollar on resumption of trading after Eid holidays.

Currency experts said that a day earlier the State Bank of Pakistan (SBP) reduced the requirement of SLR from 25 percent to 15 percent for exchange companies in order to facilitate inflow of home remittances through banking channels.

Further, the experts said that the inflows of export receipt also helped the rupee to make gain.

They said that the dollar may rebound in coming days due to payment demand for imports and corporate sector.

KARACHI: Deterioration in Pak Rupee continued on Thursday owing to demand for import and corporate payments.

The rupee closed at Rs153.45 to the dollar from the previous day’s closing of Rs153.22 in the interbank foreign exchange market.

The rupee recorded a decline of Rs1.18 against the dollar since resumption of trading after Eid Holidays. The government had announced Eid Holidays from May 10, 2021 to May 15, 2021, which followed Sunday on May 16, 2021.

Currency experts said that due to extended Eid holidays the rupee remained under pressure.
They also said that ease in restriction related to coronavirus also encouraged importers to place orders to their foreign buyers.

They, however, said that the record inflows of workers’ remittances and export receipts of the local currency would make gains in the coming days.

KARACHI: The Pak Rupee weakened by 33 paisas against the dollar on Wednesday owing to higher demand for import and corporate payments.

The rupee closed at Rs153.22 to the dollar from previous day’s closing of Rs152.89 in the interbank foreign exchange market.

The rupee recorded a decline of 95 paisas against the dollar since resumption of trading after Eid Holidays. The government had announced Eid Holidays from May 10, 2021 to May 15, 2021, which followed Sunday on May 16, 2021.

Currency experts said that due to extended Eid holidays the rupee was remained under pressure.

They also said that ease in restriction related to coronavirus also encouraged importers to place orders to their foreign buyers.

They, however, said that the record inflows of workers’ remittances and export receipts the local currency would make gain in coming days.