Tag: Pak Rupee

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.

KARACHI: The Pak Rupee eased by four paisas against the dollar on Monday owing to demand of the foreign currency for import and corporate payments.

The rupee ended Rs160.79 to the dollar from last Friday’s closing of 160.75 in the interbank foreign exchange market.

Currency dealers said that the rupee remained under pressure due to higher dollar demand as the market was reopened after two-day weekly holidays.

The currency experts said that sufficient foreign exchange reserves of the country and inflows of export receipts and workers’ remittance would help the local unit to improve value in coming days.

KARACHI: The Pak Rupee depreciated by 13 paisas against the dollar on Friday owing to higher demand ahead of weekly holidays and deficit in current account on increased import bill.

The rupee ended Rs160.75 to the dollar from previous day’s closing of Rs160.62 in the interbank foreign exchange market.

Currency dealers said that the demand for the dollar was remained higher ahead of two weekly holidays. Further, the current account posted a deficit in December 2020 after staying in positive for five consecutive months.

Pakistan’s Current Account (C/A) clocked in a deficit of $662 million in Dec-2020 (vs. a surplus of 513 million in November 2020), worst since October 2019 and breaking a streak of five consecutive monthly C/A surplus.

Vis-à-vis last month, C/A recorded a variance of US$1,175 million, which was largely fueled by an increase of US$940 million in imports of goods. The exports of goods increased by $13 million and home remittances grew by $98 million.

KARACHI: The Pak Rupee ended down by 12 paisas against the dollar on Thursday owing to negative sentiments prevailed after higher than expected current account deficit in December 2020, dealers said.

The rupee ended Rs160.62 to the dollar from the previous day’s closing of Rs160.50 in the interbank foreign exchange market.

The dealers said that the market sentiments were negative on reports of current account deficit in the month of December 2020.

Analysts at Topline Securities said that Pakistan’s Current Account (C/A) clocked in a deficit of $662 million in Dec-2020 (vs. a surplus of 513 million in November 2020), worst since October 2019 and breaking a streak of five consecutive monthly C/A surplus.

Vis-à-vis last month, C/A recorded a variance of US$1,175 million, which was largely fueled by an increase of US$940 million in imports of goods. The exports of goods increased by $13 million and home remittances grew by $98 million.

Karachi – In a positive turn of events, the Pakistani Rupee demonstrated resilience against the US Dollar on Wednesday, gaining 11 paisas in the interbank foreign exchange market.

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KARACHI: The Pak Rupee weakened by 9 paisas against the dollar on Tuesday owing to demand for import and corporate payments, dealers said.

The rupee ended Rs160.61 to the dollar form last day’s closing of Rs160.52 in the interbank foreign exchange market.

The dealers said that the rupee weakened owing to dollar demand for import and corporate payments.

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

The rupee ended Rs160.52 to the dollar form last day’s closing on of Rs160.33 in the interbank foreign exchange market.

The dealers said that the rupee weakened owing to dollar demand for import and corporate payments. They said that the demand was seen because the market opened after two weekly holidays.