Tag: Pak Rupee

KARACHI: The Pak Rupee recovered 56 paisas against dollar on Wednesday on inflows of remittances and export receipts, dealers said.

The rupee ended Rs164.33 to the dollar from previous day’s closing of Rs164.89 in interbank foreign exchange market.

Earlier, in the first two days of the current week the rupee depreciated by Rs1.79 against the dollar.

The dealers said that the rupee was remained under pressure during the day. However, inflows of dollars in shape of remittances and export receipts helped the rupee to recover against the greenback.

Currency experts said that the deterioration in rupee value was due to higher demand for import and corporate payments.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee further weakened by 81 paisas against dollar on Tuesday owing to higher demand for import and corporate payments, dealers said.

The rupee closed at Rs164.89 to the dollar from last day’s closing of Rs164.08 in interbank foreign exchange market.

The rupee depreciated by Rs1.79 against the dollar during last two days.

Currency experts said that the deterioration in rupee value was due to higher demand for import and corporate payments.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee weakened by 98 paisas against dollar on Monday owing to higher demand for import and corporate payments, dealers said.

The rupee closed at Rs164.08 to the dollar from last Friday’s close of Rs163.10 in interbank foreign exchange market.

Currency experts said that the deterioration in rupee value was due to higher demand for import and corporate payments. They said that rupee was remained under pressure due to settlement of import payments after long holidays.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee ended down by Rs1.11 to the dollar on Friday as demand for import and corporate payments remained persist, dealers said.

The rupee closed at Rs163.10 to the dollar from previous day’s closing of Rs161.99 in interbank foreign exchange market.

Currency experts said that the deterioration in rupee value was due to higher demand for import and corporate payments. They said that rupee was remained under pressure due to settlement of import payments after long holidays.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee fell by Rs1.07 against dollar on Thursday as trading resumed after long holidays due to Eid-ul-Fitr.

The rupee closed at Rs161.99 to the dollar from previous closing of Rs160.92 on May 21, 2020 in interbank foreign exchange market.

Currency experts said that the deterioration in rupee value was due to higher demand for import and corporate payments. They said that rupee was under pressure due to settlement of import payments after long holidays.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee further eased by 15 paisas against dollar on Thursday ahead of long holidays on the occasion of Eid-ul-Fitr.

The rupee closed at Rs160.92 to the dollar from previous day’s closing of Rs160.77 in interbank foreign exchange market.

Currency experts said that the deterioration in rupee value was continued due to higher demand for import and corporate payments. They said that buyers were remained active due to advance payments. They said that the Eid Holidays will commence from May 22 till May 27.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee eased by three paisas against dollar on Wednesday as high demand remained persist for import payment.

The rupee closed at Rs160.77 to the dollar from previous day’s closing of Rs160.74 in interbank foreign exchange market.

Currency dealers said that the local unit was under pressure because market due to higher demand for import and corporate payments.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee further depreciated by 37 paisas against dollar on Tuesday owing to higher demand for import and corporate payments.

The rupee closed at Rs160.74 to the dollar from previous day’s closing of Rs160.37 in interbank foreign exchange market.

The local unit lost 27 paisas against dollar a day earlier.

Currency dealers said that the local unit was under pressure because market due to higher demand for import and corporate payments.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee fell by 27 paisas against dollar on Monday owing to higher demand for import and corporate payments.

The rupee closed at Rs160.37 to the dollar from last Friday’s closing of Rs160.10 in interbank foreign exchange market.

Currency dealers said that the local unit was under pressure because market was opened after two weekly holidays.

Further, they said that after ease in lockdown the demand was increasing and importers started purchasing dollars for future buying.

The currency experts said that fall in exports and remittances also put pressure on the local currency.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.

KARACHI: The Pak Rupee ended firmer against dollar on Friday owing to lackluster demand from importers and corporate buyers.

The rupee ended Rs160.10 to the dollar, the same previous day’s level, in interbank foreign exchange market.

Earlier this week the dollar strengthened by around one rupee during (Monday to Wednesday) three trading sessions owing to fall in remittances and rise in demand for import payments.

However, the rupee recovered sharply on Thursday May 14, 2020 against the dollar.

The currency experts attributed to depreciation in rupee value to the ease in lockdown from May 10, 2020 the demand of consumer goods increased substantially, which also encouraged the importers to place new foreign orders.

Overseas Pakistani workers sent home $1.790 billion in April, compared with $1.894 billion in previous month.

Pakistan received $18.781 billion in remittances in July-April FY2020, compared with $17.801 billion in the same period last year.

However, the experts said that the local currency recovered on the back of improved economic indicators.