KARACHI – The Pakistani Rupee faced a decline of 13 paisas against the US Dollar on Tuesday, closing at Rs158.30 in the interbank foreign exchange market.
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Rupee eases against dollar
KARACHI: The Pak Rupee eased against the dollar on Monday after maintaining a 23-day gaining streak. The rupee ended at Rs158.17 to the dollar from last Friday’s closing of Rs158.16 in the interbank foreign exchange market.
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Rupee gains against dollar for 23rd consecutive days
Karachi, Pakistan: The Pakistani Rupee (PKR) extended its winning streak against the US Dollar (USD) for the 23rd consecutive trading day on Friday.
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Rupee advances by 16 paisas; dollar retreats to Rs158.33
KARACHI: The Pak Rupee made another gain of Rs16 paisas against dollar on Thursday owing to healthy inflows of workers’ remittances during the current fiscal year.
The rupee ended Rs158.33 to the dollar from previous day’s closing of Rs158.49 in interbank foreign exchange market.
Currency dealers said that the inflows of workers’ remittances during the current fiscal year helped the rupee to make gain.
Further, the importers are cautious in purchasing dollars due to the second phase of coronavirus.
The inflow of workers’ remittances has sharply increased by 26.5 percent to $9.43 billion during first four months (July – October) of current fiscal year 2020/2021. The central bank received $7.45 billion in the same months of the last fiscal year.
The SBP said that remittances remained above $2 billion for the fifth consecutive month in October 2020.
Workers’ remittances amounted to $ 2.3 billion during October 2020, increasing by 14.1 percent compared to October 2019.
A large part of y/y increase in October 2020 was sourced from Saudi Arabia (30 percent), United States (16 percent) and United Kingdom (14.6 percent).
Improvements in Pakistan’s FX market structure and its dynamics, efforts under the Pakistan Remittances Initiative (PRI) to formalize the flows contributed to the growth in remittances and limited cross-border travelling, the SBP said.
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Dollar eases to Rs158.49 as rupee further strengthens
KARACHI: The Pak Rupee made 20 paisas gain against dollar on Wednesday owing to rising coronavirus cases and lockdown discourage lowered demand for import payments, dealers said.
The rupee ended Rs158.49 to the dollar from previous day’s closing of Rs158.69 in interbank foreign exchange market.
The dealers said that the rising number of coronavirus cases and as a result of imposition of lockdown across the world dampened the demand of the foreign currency for import payment.
The dealers said that positive sentiments, however, remained prevailed due to improved economic indicators including inflows of foreign remittances and export receipts.
The rupee hit an all-time low of Rs168 on August 26, 2020.
According to Pakistan Bureau of Statistics (PBS) the exports during the month of October 2020 increased by 3.07 percent to $2.08 billion as compared with $2.02 billion in the same month of the last year.
Imports for the month fell by 5.73 percent to $3.82 billion as compared with $4.05 billion in the same month of the last year.
The trade deficit reduced by 14.46 percent to $1.74 billion in October 2020 as compared with a trade deficit of $2.03 billion in the same month of the last year.
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Rupee advances by 22 paisas; dollar slips to Rs158.69
KARACHI: The Pak Rupee gained 22 paisas against dollar on Tuesday owing improved remittances and export receipts.
The rupee ended Rs158.69 to the dollar from previous day’s closing of Rs158.91 in interbank foreign exchange market.
The currency dealers said that importers were cautious in placing new orders due to the second wave of coronavirus across the glob.
They further said that the inflows of export receipts and workers’ remittances are helping the local unit to improve levels.
The rupee hit an all-time low of Rs168 on August 26, 2020.
According to Pakistan Bureau of Statistics (PBS) the exports during the month of October 2020 increased by 3.07 percent to $2.08 billion as compared with $2.02 billion in the same month of the last year.
Imports for the month fell by 5.73 percent to $3.82 billion as compared with $4.05 billion in the same month of the last year.
The trade deficit reduced by 14.46 percent to $1.74 billion in October 2020 as compared with a trade deficit of $2.03 billion in the same month of the last year.
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Dollar slips to Rs158.91
KARACHI – The Pakistani Rupee strengthened against the US Dollar on Monday, gaining 18 paisas. The improved economic indicators and reduced demand for import payments were cited as contributing factors to the rupee’s resurgence.
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Rupee gains 37 paisas; dollar eases to Rs159.09
KARACHI: The Pakistani Rupee gained 37 paisas against the US dollar on Friday, closing at Rs159.09 from the previous day’s rate of Rs159.46 in the interbank foreign exchange market. This appreciation was attributed to lower imports and higher inflows of export receipts and workers’ remittances, according to currency dealers.
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Rupee gains 35 paisas; dollar falls to Rs159.46
KARACHI: The Pak Rupee gained 35 paisas against the dollar on Thursday owing to inflows of export receipts and workers’ remittances, dealers said.
The rupee ended Rs159.46 to the dollar from the previous day’s close of Rs159.81 in the interbank foreign exchange market.
The dealer said that the importers were cautious over upsurge in coronavirus cases in the country as well as in the world. On the other hand, positive sentiments prevailed in the market over improved export numbers in October 2020.
The rupee hit an all-time low of Rs168 on August 26, 2020. Since then the local unit recovered Rs8.97 against the greenback.
According to Pakistan Bureau of Statistics (PBS) the exports during the month of October 2020 increased by 3.07 percent to $2.08 billion as compared with $2.02 billion in the same month of the last year.
Imports for the month fell by 5.73 percent to $3.82 billion as compared with $4.05 billion in the same month of the last year.
The trade deficit reduced by 14.46 percent to $1.74 billion in October 2020 as compared with a trade deficit of $2.03 billion in the same month of the last year.
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Dollar retreats to Rs159.81
KARACHI: The Pak Rupee gained 16 paisas against the dollar on Wednesday owing to lower imports and inflows of export receipts and workers remittances, dealers said.
The rupee ended Rs159.81 to the dollar from the previous day’s close of Rs159.97 in the interbank foreign exchange market.
The dealer said that the importers were cautious over the upsurge in coronavirus cases in the country as well as in the world. On the other hand, positive sentiments prevailed in the market over-improved export numbers in October 2020.
The rupee hit an all-time low of Rs168 on August 26, 2020. Since then the local unit recovered Rs8.62 against the greenback.
According to the Pakistan Bureau of Statistics (PBS) the exports during the month of October 2020 increased by 3.07 percent to $2.08 billion as compared with $2.02 billion in the same month of the last year.
Imports for the month fell by 5.73 percent to $3.82 billion as compared with $4.05 billion in the same month of the last year.
The trade deficit reduced by 14.46 percent to $1.74 billion in October 2020 as compared with a trade deficit of $2.03 billion in the same month of the last year.