Tag: Pak Rupee

KARACHI: The Pak Rupee gained 11 paisas against dollar on Monday owing to improved economic indicators.

The rupee ended Rs162.38 to the dollar from last Friday’s closing of Rs162.49 in interbank foreign exchange market.

The currency experts said that positive sentiments were prevailed during the day due to foreign inflows in shape of export receipts and workers remittances.

Workers’ remittances remained above $2 billion for the fourth consecutive month in September.

They increased to $2.3 billion, 31.2 percent higher than the same month last year and 9 percent higher than in August, the State Bank of Pakistan (SBP) recently said.

KARACHI: The Pak Rupee strengthened by 37 paisas against dollar on Friday owing to improved economic indicators and positive sentiments.

The rupee ended Rs162.49 to the dollar from previous day’s closing of Rs162.86 in interbank foreign exchange market.

Currency experts said that latest exchange rates showed the dollar weakened by five month low.

They said that the since August 2020 the dollar weakened by Rs5.57. The greenback reached to the highest point of Rs168.43 on August 27, 2020.

They said that the fall in dollar value to ease in pressure on debt repayments of Rs575 billion.

Workers’ remittances remained above $2 billion for the fourth consecutive month in September.

They increased to $2.3 billion, 31.2 percent higher than the same month last year and 9 percent higher than in August, the State Bank of Pakistan (SBP) recently said.

KARACHI: The Pak Rupee strengthened by 62 paisas against dollar on Thursday owing to significant inflows of workers’ remittances and export receipts.

The rupee ended Rs162.86 to the dollar from previous day’s closing of Rs163.48 in interbank foreign exchange market.

Currency experts said that latest exchange rates showed the dollar weakened by five month low.

They said that the since August 2020 the dollar weakened by Rs5.57. The greenback reached to the highest point of Rs168.43 on August 27, 2020.

They said that the fall in dollar value to ease in pressure on debt repayments of Rs575 billion.

Workers’ remittances remained above $2 billion for the fourth consecutive month in September.

They increased to $2.3 billion, 31.2 percent higher than the same month last year and 9 percent higher than in August, the State Bank of Pakistan (SBP) recently said.

KARACHI: The Pak Rupee gained 39 paisas against the dollar on Wednesday owing to significant inflows of export receipts and workers’ remittances.

The rupee ended at Rs163.48 to the dollar from the previous day’s closing of Rs163.87 in the interbank foreign exchange market.

Currency dealers said that the market witnessed sufficient supply of the foreign currency which helped the rupee to appreciate.

Workers’ remittances remained above $2 billion for the fourth consecutive month in September 2020.

They increased to $2.3 billion, 31.2 percent higher than the same month last year and 9 percent higher than in August.

On a cumulative basis, remittances rose to a record $ 7.1 billion in the first quarter of 2020/2021, 31.1 higher than the same period last year.

The dealers hoped that considering the inflows and buffer stock of foreign exchange reserves would help the local currency to make gain.

KARACHI: The Pak Rupee ended down by three paisas against dollar on Tuesday owing to import and corporate payment demand for the foreign currency.

The rupee ended Rs163.84 to the dollar from last day’s closing of Rs163.81 in interbank foreign exchange market.

Currency dealers said that the higher dollar demand for import and corporate demand depreciated the value of the local currency.

They said that higher trade deficit for the month of September 2020 and expected current account deficit for the month also pressured the local unit.

They however hoped that the rupee would make gain during coming days owing to measures taken by the government and substantial inflows in the shape of remittances and export receipts.

KARACHI: The Pak Rupee made a nominal gain of three paisas against dollar on Monday amid significant rise in home remittances as reported by the State Bank of Pakistan (SBP).

The rupee ended Rs163.81 to the dollar from last Friday’s closing of Rs163.84 in interbank foreign exchange market.

Currency dealers said that market players were remained optimistic about the ease in pressure on the local unit. However, the market witnessed demand from importers and corporate buyers as marked was opened after two days weekly holidays.

The dealers said that the home remittances posted a growth of over 32 percent in the month of September 2020 on Year on Year basis (YoY). Besides, the foreign currency account rules issued by the ministry of finance on Friday evening also sent positive message to the market.

The currency dealers hoped that the rupee would make gain during coming days owing to measures taken by the government and substantial inflows in the shape of remittances and export receipts.

The Pakistani rupee experienced a slight decline against the US dollar on Friday, falling by 12 paisas due to increased demand for import and corporate payments. The rupee closed at Rs163.84 to the dollar in the interbank foreign exchange market, down from the previous day’s closing of Rs163.72.

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KARACHI: The Pak Rupee gained 25 paisas against the dollar on Thursday owing to improved economic indicators, dealers said.

The rupee ended Rs163.72 to the dollar from previous day’s closing of Rs163.97 in interbank foreign exchange market.

The currency dealers said that the due to lower demand for import and corporate payments and sufficient inflows of export receipts and workers remittances the rupee gained the value.

They said that the sentiments were remained positive in the market due to escalating economic activities.

The experts said that the exports registered 18.24 percent growth to $1.873 billion during September 2020 as compared with $1.58 billion in August 2020.

They hoped that present positivity in the market would help the local unit to make gain further against the greenback.

KARACHI: The US dollar on Wednesday weakened against the Pak Rupee to Rs163.97 as sufficient supply was seen in the currency market.

The rupee gained six paisas to close at Rs163.97 to the dollar from previous day’s closing of Rs164.03 in interbank foreign exchange market.

Currency experts said that the market witnessed sufficient supply of the foreign currency to meet demand for import and corporate payments.

They said that the sentiments were remained positive in the market due to escalating economic activities.

The experts said that the exports registered 18.24 percent growth to $1.873 billion during September 2020 as compared with $1.58 billion in August 2020.

They hoped that present positivity in the market would help the local unit to make gain further against the greenback.

KARACHI: The Pak Rupee strengthened by 29 paisas against dollar on Tuesday owing to improved inflows of export receipts and workers’ remittances.

The rupee ended at Rs164.03 to the dollar from previous day’s closing of Rs164.32 in interbank foreign exchange market.

Currency experts said that the market witnessed sufficient supply of the foreign currency to meet demand for import and corporate payments.

They said that the sentiments were remained positive in the market due to escalating economic activities.

The experts said that the exports registered 18.24 percent growth to $1.873 billion during September 2020 as compared with $1.58 billion in August 2020.

They hoped that present positivity in the market would help the local unit to make gain further against the greenback.