Tag: Pak Rupee

KARACHI: The Pakistani rupee gained strength against the US dollar on Wednesday, appreciating by 11 paisas in the interbank foreign exchange market. This upward movement was largely attributed to improved inflows from workers’ remittances and export receipts, which provided much-needed support to the local currency.

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KARACHI: The Pak Rupee eased by one paisa against the dollar on Tuesday as sufficient supply of the foreign currency was available during the day.

The rupee ended at Rs160.39 to the dollar from last day’s closing of Rs160.38 in the interbank foreign exchange market.

Currency dealers said that although demand for the foreign currency remained higher due to year ending. They said the supply of the greenback was sufficient to meet the demand.

They said that due to year ending the demand for import and corporate payments was higher. They however said that the rupee may remain stable in the coming days.

KARACHI: The Pak Rupee fell by six paisas against the dollar on Monday as the market opened after public and weekly holidays and witnessed higher demand for import and corporate payments.

The rupee ended at Rs160.38 to the dollar from last Thursday’s closing of Rs160.32 in the interbank foreign exchange market.

Currency dealers said that the rupee came under pressure during the day as the market opened after three days for public holiday on account of Qauid-e-Azam day and two weekly holidays.

The demand remained higher during the day despite inflows of workers’ remittances and export receipts. However, these inflows were not sufficient to support the local unit.

KARACHI – The Pakistani Rupee strengthened by 23 paisas against the US dollar on Thursday, driven by an adequate supply of the greenback to meet import and corporate demand, according to market dealers.

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KARACHI: The Pak Rupee gained 13 paisas against the dollar on Wednesday on sufficient supply of the greenback to meet import and corporate demands, dealers said.

The rupee ended Rs160.55 to the dollar from the previous day’s close of Rs160.68 in the interbank foreign exchange market.

The dealers said that the rupee was appreciated after sufficient supply of the dollar in the market and it offset the demand for import and corporate payments.

They said that the market had positively responded to current account surplus.

The current account posted $1.64 billion surplus for the first five months of the current fiscal year as compared with a current account deficit of $1.74 billion in the corresponding period of the last fiscal year.

The dealer said that the new type of coronavirus detected in the UK also spread fears across the globe. The importers are also cautious in making new orders amid the discovery of new type of the COVID.

The currency experts hoped that the local unit would make gains in coming days despite year ending owing to improved economic indicators.

KARACHI: The Pak Rupee gained three paisas against the dollar on Tuesday owing to improved sentiments after reports of current account surplus during the first five months.

The rupee ended Rs160.68 to the dollar from the previous day’s closing of Rs160.71 in the interbank foreign exchange market.

Currency dealers said that the market remained positive due to reports of current account surplus as shown in Balance of Payment for the period July – November of fiscal year 2020/2021.

The current account posted $1.64 billion surplus for the first five months of the current fiscal year as compared with a current account deficit of $1.74 billion in the corresponding period of the last fiscal year.

The dealer said that the new type of coronavirus detected in the UK also spread fears across the globe. The importers are also cautious in making new orders amid the discovery of new type of the COVID.

The currency experts hoped that the local unit would make gains in coming days despite year ending owing to improved economic indicators.

The Pakistani Rupee experienced a significant drop of 62 paisas against the US Dollar on Monday, closing at Rs160.71 compared to the previous Friday’s rate of Rs160.09 in the interbank foreign exchange market. This decline is attributed to increased demand for foreign currency driven by import and corporate payment requirements.

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KARACHI: The Pak Rupee gained two paisas against the dollar on Friday amid demand for import and corporate payments.

The rupee ended Rs160.09 against the dollar from previous day’s closing of Rs160.11 in the interbank foreign exchange market.

Currency dealers said that demand for the foreign currency was remained higher due to upcoming weekly holidays. However, inflows of export receipts and workers remittances helped the rupee to make gain.

Currency experts said that the rupee likely to make gain in coming days due to positive economic indicators.

KARACHI: The Pak Rupee strengthened by 28 paisas against the dollar on Thursday owing to improved foreign inflows of workers’ remittances and export receipts.

The rupee ended Rs160.11 against the dollar from previous day’s closing of Rs160.39 in the interbank foreign exchange market.

Currency dealers said that improved inflows of workers remittances and export receipts helped the rupee to make gain.

Besides, the lower demand for import and corporate payments due to rising coronavirus cases around the world also helped the rupee to appreciate.

Pak Rupee to US Dollar on August 21, 2021

KARACHI: The Pak Rupee recovered 20 paisas against the dollar on Wednesday after ease in demand for import and corporate payments and increase in foreign inflows.

The rupee ended Rs160.39 to the dollar from previous day’s closing of Rs160.59 in the interbank foreign exchange market.

The local unit recovered against the greenback after witnessing three straight trading sessions decline.

The currency experts said that the supply of the dollar was sufficient in the market. Further, demand for import and corporate payment also seen easing, they added.