Tag: Pak Rupee

KARACHI: The Pak Rupee fell against the dollar for seventh straight day on Tuesday as demand for import and corporate payment remained high.

The rupee fell by 37 paisas on Tuesday to close at Rs154.50 against the dollar from previous day’s closing of Rs154.13 in the interbank foreign exchange market.

The rupee has started falling against the dollar from mid of the current month. So far the rupee has been weakened by Rs1.68 against the dollar during last seven trading days or since April 15, 2021.

The currency experts said that high import payment to meet local demand had jacked up the rupee value.

The Pakistani rupee weakened by another 26 paisas against the US dollar on Monday, closing at Rs154.13 in the interbank foreign exchange market. This depreciation comes as demand for the greenback continues to rise due to import and corporate payment requirements.

KARACHI: The Pak Rupee fell by 41 paisas against the dollar on Friday owing to higher demand for import and corporate payments ahead of weekly holidays.

The rupee ended Rs153.87 to the dollar from previous day’s closing of Rs 153.46 in the interbank foreign exchange market.

Currency dealers said that the market witnessed demand for the foreign currency due to two weekly holidays ahead. They said that corporate sector was seen engaged in buying the greenback to repatriate profit and dividends to their parents companies abroad.

They however said that the buffer stock of foreign exchange reserves, home remittances and export receipts would help the local currency to make gain in coming days.

KARACHI: The Pak Rupee fell by 23 paisas against the dollar on Thursday owing to rising demand for the foreign currency for import and corporate payments.

The rupee ended Rs153.46 to the dollar from previous day’s closing of Rs153.23 in the interbank foreign exchange market.

The currency dealers said that demand for imported goods increased due to rising domestic supplies. Further, the dollar demand was also increased due to corporate payment demand as foreign companies repatriate their profit and dividends after closing of a quarter.

The dealers hoped that the local currency would recover in coming days due to improved remittances and export receipts.

KARACHI: The Pak Rupee fell by 24 paisas against the dollar on Wednesday owing to high demand for import and corporate payments.

The rupee ended Rs153.23 to the dollar from previous day’s closing of Rs152.99 in the interbank foreign exchange market.

The dealers said that the rupee was remained under pressure due to corporate demand for dollars during the day. They said that the corporate buyers were active as multinational companies and foreign companies usually repatriate profit and dividends on close of every quarter.

They further said that the demand for import payment was also seen rising.

KARACHI: The Pak Rupee weakened by six paisas against dollar on Tuesday owing to demand for import and corporate payments.

The rupee ended Rs152.99 to the dollar from previous day’s closing of Rs152.93 in the interbank foreign exchange market.

Currency dealers said that the market witnessed demand from corporate buyers as foreign companies were sending their profit and dividends to their parent companies abroad.

Further, seasonal demand for import payments is also seen during the day.

The dealers said that the local currency likely to make gain against the dollar in coming days due to substantial inflows of foreign currency in shape of export receipts and workers’ remittances.

KARACHI: The Pak Rupee weakened by 11 paisas against the dollar on Monday owing to demand for import and corporate payments, dealers said.

The rupee ended Rs152.93 to the dollar from last Friday’s closing of Rs152.82 in the interbank foreign exchange market.

The currency dealers said that the rupee was under pressure because the market was opened after two weekly holidays.

However, they said that the market had sufficient supply of the greenback to meet the demand in coming days.

They said that the inflows of export receipts and workers’ remittances would support the local currency. Further, the market would remain positive due to high stock of foreign exchange reserves of the country.

KARACHI: The Pak Rupee ended firmer against the dollar on Friday amid demand for import and corporate payments, dealers said.

KARACHI: The Pak Rupee ended flat against the dollar on Thursday owing to lower demand for import and corporate payments.

The rupee closed at Rs152.83 to the dollar from the same closing of April 13, 2021 in the interbank foreign exchange market.

The banks were remained closed on April 14, 2021 for the Zakat deduction on first day of Ramazan ul Mubarak.

 The currency analysts said that the rupee likely to make gains in coming days due to better foreign exchange reserves, improved export receipts and workers’ remittances and external situation.

KARACHI: The Pak Rupee fell by eight paisas against the dollar on Tuesday owing to bank holiday a day ahead that may create pressure on import payment demand.

The rupee ended Rs152.83 to the dollar from previous day’s closing of Rs152.75 in the interbank foreign exchange market.

Currency experts said that the rupee witnessed a decline due to higher dollar demand for import and corporate payment as banks likely close on Wednesday due to Zakat deduction on the first day of Ramazan ul Mubarak.

The currency experts said that the rupee may continue to gain value in coming days owing to substantial increase in inflows of workers remittances and export receipts.