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KARACHI: The Pak Rupee fell by 40 paisas against the dollar on Tuesday owing to payment demand for import and corporate payments.
The rupee ended 159.82 to the dollar from the previous day’s closing of Rs159.42 in the interbank foreign exchange market.
Currency dealers said that the demand for import and corporate payments was higher during the day.
They said that the market had also seen supply of the dollar but was not sufficient to help the local currency.
KARACHI: The Pak Rupee gained four paisas against the dollar on Monday despite demand for import and corporate payments.
The rupee ended Rs159.42 to the dollar form last Friday’s close of Rs159.46 in the interbank foreign exchange market.
Currency dealers said that the market witnessed demand for the dollars because of the first trading day of the week and the market opened after two weekly holidays.
They said that the supply of the greenback was sufficient to offset the demand and helped the local currency to make gain.
The dealers said that the local currency likely to make gain in coming days owing to improved economic indicators, including the foreign exchange reserves of the country.
The liquid foreign exchange reserves of the country have increased by $467 million to $20.552 billion by week ended November 20, 2020. The foreign exchange reserves of the country were at $20.085 billion by week ended November 13, 2020.
The official reserves of the SBP increased by $484 million to $13.415 billion by week ended November 20, 2020 as against $12.931 billion a week ago. The SBP attributed the increase to official government inflows.
KARACHI: The Pak Rupee fell by 20 paisas against the dollar on Friday owing to higher demand of the foreign currency for import and corporate payments.
The rupee ended at Rs159.46 to the dollar from the previous day’s closing of Rs159.26 in the interbank foreign exchange market.
Currency dealers said that the higher demand of the greenback was seen due to upcoming weekly holidays.
Experts believed that the rupee is likely to gain value against the dollar in coming days due to improved economic indicators and increase in the foreign exchange reserves.
The liquid foreign exchange reserves of the country have increased by $467 million to $20.552 billion by week ended November 20, 2020, State Bank of Pakistan (SBP) said a day earlier.
The foreign exchange reserves of the country were at $20.085 billion by week ended November 13, 2020.
The official reserves of the SBP increased by $484 million to $13.415 billion by week ended November 20, 2020 as against $12.931 billion a week ago.
The SBP attributed the increase to official government inflows.
The reserves held by commercial banks eased by $17 million to $7.137 billion by week ended November 20, 2020 as against $7.154 billion a week ago.
KARACHI: The Pak Rupee ended firmer against the dollar on Thursday as inflows were sufficient to meet the demand for import and corporate payments.
The rupee ended Rs159.26 to the dollar from previous day’s closing of Rs159.27 in the interbank foreign exchange market.
Currency dealers said that the supply of the foreign currency was sufficient to meet the demand for import and corporate payments.
KARACHI: The Pak Rupee gained another 82 paisas against dollar on Wednesday owing to ease in demand for import payment and improved economic indicators.
The rupee ended Rs159.27 to the dollar from previous day’s closing of Rs160.09 in interbank foreign exchange market.
Currency dealers said that due to second phase of covid pandemic globally and subsequent lockdowns discouraged importers to place new orders.
Further the improved foreign exchange reserves and current account surplus also supported the rupee to make gain.
The local currency recovered Rs1.72 against dollar during past three trading days.
KARACHI: The Pak Rupee recovered 96 paisas against the dollar on Tuesday following the central bank kept the policy rate unchanged and lower demand of the foreign currency from importers.
The rupee ended Rs160.09 to the dollar from the previous day’s closing of Rs161.05 in the interbank foreign exchange market.
Currency dealers said that a day earlier the State Bank of Pakistan (SBP) kept the key policy rate unchanged at 7 percent giving confidence to trade and industry.
They further said that the imposition of lockdown to prevent spread of coronavirus in international markets also discouraged importers from placing new orders to their foreign suppliers.
The rupee gained to Rs158.30 against the dollar on November 17, 2020. However, since then the local currency witnessed a declining trend.
KARACHI: The US dollar strengthened against the Pakistani rupee on Monday, gaining 32 paisas due to increased demand for imports and corporate payments. The exchange rate settled at Rs161.05 to the dollar in the interbank foreign exchange market, rising from last Friday’s closing of Rs160.73.
(more…)The Pakistani Rupee faced a modest decline of 11 paisas against the US dollar on Friday, closing at Rs160.73 in the interbank foreign exchange market.
(more…)The Pakistani Rupee (PKR) continued its downward trend against the US Dollar on Thursday, depreciating by 79 paisas in the interbank market. The rupee closed at Rs160.62 against the dollar, compared to the previous day’s rate of Rs159.83, as demand surged for import and corporate payments.
(more…)KARACHI: The Pak Rupee weakened by Rs1.53 against dollar on Wednesday owing to higher demand for import and corporate payments.
The rupee ended Rs159.83 to the dollar from previous day’s closing of Rs158.30 in interbank foreign exchange market.
Currency dealers said that the market witnessed higher demand for dollars during the day. They said that after government announcement of not imposing strict lockdown the importers were relaxed in placing orders to their foreign suppliers.