Tag: Pak Rupee

KARACHI: The Pak Rupee fell by 12 paisas against dollar on Tuesday owing to higher demand of the foreign currency for import payment, dealers said.

The rupee ended at Rs166.95 to the dollar from previous day’s closing of Rs166.83 in interbank foreign exchange market.

The currency dealers said that the rupee was remained under pressure due to higher demand of the foreign currency for commodity payment, mainly related to holy month of Ramazan.

Currency experts said that the rupee may make gain in coming days with expected disbursement by the IMF.

They said that the IMF disbursement would help the country to improve foreign exchange reserves.

The experts said that the rupee likely to gain further in future owing to lower import payment demand after decline in international oil prices.

The import bill of the country has declined by 21 percent in March 2020 over the previous month owing to lockdown to contain coronavirus pandemic.

The import bill was at $3.3 billion in March 2020 as compared with $4.185 billion in February 2020, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

Similarly, the pandemic also adversely affected the country’s exports. The exports fell by 15.56 percent to $1.8 billion in March 2020 as compared with $2.14 billion in February 2020.

The total import bill during July – March 2019/2020 fell by 14.42 percent to $38.81 billion as compared with $40.68 billion in the corresponding period of the last fiscal year.

However, the exports registered increase of 2.23 percent during first nine months of current fiscal year to $17.45 billion as compared with $17 billion in the corresponding months of the last fiscal year.

The trade deficit during first nine months contracted by 26.45 percent to $17.36 billion as compared with the deficit of $23.61 billion in the corresponding period of the last fiscal year.

KARACHI: The Pak Rupee fell by four paisas on Monday owing to demand for import payment as market opened after two weekly holidays.

The rupee ended at Rs166.83 to the dollar from last Friday’s of Rs166.79 in interbank foreign exchange market.

The rupee was under pressure during the day due to demand for import payment, especially related to commodities used during the holy month of Razaman.

Currency experts said that the rupee may make gain in coming days with expected disbursement by the IMF.

They said that the IMF disbursement would help the country to improve foreign exchange reserves.

The experts said that the rupee likely to gain further in future owing to lower import payment demand after decline in international oil prices.

The import bill of the country has declined by 21 percent in March 2020 over the previous month owing to lockdown to contain coronavirus pandemic.

The import bill was at $3.3 billion in March 2020 as compared with $4.185 billion in February 2020, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

Similarly, the pandemic also adversely affected the country’s exports. The exports fell by 15.56 percent to $1.8 billion in March 2020 as compared with $2.14 billion in February 2020.

The total import bill during July – March 2019/2020 fell by 14.42 percent to $38.81 billion as compared with $40.68 billion in the corresponding period of the last fiscal year.

However, the exports registered increase of 2.23 percent during first nine months of current fiscal year to $17.45 billion as compared with $17 billion in the corresponding months of the last fiscal year.

The trade deficit during first nine months contracted by 26.45 percent to $17.36 billion as compared with the deficit of $23.61 billion in the corresponding period of the last fiscal year.

KARACHI: The Pak Rupee gained 40 paisas against dollar on Friday as expectation of improved foreign exchange reserves following disbursement of payment by the IMF.

The rupee ended at Rs166.79 to the dollar from previous day’s close of Rs167.19 in interbank foreign exchange market.

The rupee made gain for the third consecutive days owing to reports that the IMF board meeting scheduled for next week may approve $1.4 billion for Pakistan.

Currency experts said that the IMF disbursement would help the country to improve foreign exchange reserves.

The experts said that the rupee likely to gain further in future owing to lower import payment demand after decline in international oil prices.

The import bill of the country has declined by 21 percent in March 2020 over the previous month owing to lockdown to contain coronavirus pandemic.

The import bill was at $3.3 billion in March 2020 as compared with $4.185 billion in February 2020, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

Similarly, the pandemic also adversely affected the country’s exports. The exports fell by 15.56 percent to $1.8 billion in March 2020 as compared with $2.14 billion in February 2020.

The total import bill during July – March 2019/2020 fell by 14.42 percent to $38.81 billion as compared with $40.68 billion in the corresponding period of the last fiscal year.

However, the exports registered increase of 2.23 percent during first nine months of current fiscal year to $17.45 billion as compared with $17 billion in the corresponding months of the last fiscal year.

The trade deficit during first nine months contracted by 26.45 percent to $17.36 billion as compared with the deficit of $23.61 billion in the corresponding period of the last fiscal year.

The Pakistani Rupee gained significant ground against the US Dollar on Thursday, appreciating by 57 paisas, closing at Rs167.19 from the previous day’s rate of Rs167.76 in the interbank foreign exchange market.

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KARACHI: The Pak Rupee recovered 14 paisas against dollar on Wednesday after witnessing significant decline a day earlier.

The rupee closed at Rs167.76 to the dollar from previous day’s closing of Rs167.90 in interbank foreign exchange market.

The local unit fell significantly a day earlier and lost 91 paisas against the greenback.

Currency experts said that the rupee was under massive pressure due to outflow of hot money during the past couple of month.

The outbreak of coronavirus jolted the financial markets across the globe, which also forced the investors to consolidate their funds.

A huge amount was also taken out by foreign investors from domestic debt market, which resulted pressure the local currency.

The experts said that the rupee likely to gain further in future owing to lower import payment demand after decline in international oil prices.

The import bill of the country has declined by 21 percent in March 2020 over the previous month owing to lockdown to contain coronavirus pandemic.

The import bill was at $3.3 billion in March 2020 as compared with $4.185 billion in February 2020, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

Similarly, the pandemic also adversely affected the country’s exports. The exports fell by 15.56 percent to $1.8 billion in March 2020 as compared with $2.14 billion in February 2020.

The total import bill during July – March 2019/2020 fell by 14.42 percent to $38.81 billion as compared with $40.68 billion in the corresponding period of the last fiscal year.

However, the exports registered increase of 2.23 percent during first nine months of current fiscal year to $17.45 billion as compared with $17 billion in the corresponding months of the last fiscal year.

The trade deficit during first nine months contracted by 26.45 percent to $17.36 billion as compared with the deficit of $23.61 billion in the corresponding period of the last fiscal year.

KARACHI: The Pakistan rupee witnessed a sharp decline on Tuesday, falling by 91 paisas against the US dollar. The rupee closed at Rs167.90 per dollar in the interbank foreign exchange market, down from the previous day’s rate of Rs166.99. The depreciation was primarily driven by increased demand for dollars, largely due to rising import payments.

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KARACHI: The Pak Rupee ended down 23 paisas against dollar on Monday owing to demand for import payments.

The rupee ended Rs166.99 to the dollar from last Friday’s closing of Rs166.76 in interbank foreign exchange market.

The dealers said that the rupee was under pressure due to higher demand for import payment. They said that mostly demand was come from foreign buying related to commodities for the month of Ramazan.

The dealers said that the rupee however likely to gain in future owing to lower import payment demand after decline in international oil prices.

The import bill of the country has declined by 21 percent in March 2020 over the previous month owing to lockdown to contain coronavirus pandemic.

The import bill was at $3.3 billion in March 2020 as compared with $4.185 billion in February 2020, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

Similarly, the pandemic also adversely affected the country’s exports. The exports fell by 15.56 percent to $1.8 billion in March 2020 as compared with $2.14 billion in February 2020.

The total import bill during July – March 2019/2020 fell by 14.42 percent to $38.81 billion as compared with $40.68 billion in the corresponding period of the last fiscal year.

However, the exports registered increase of 2.23 percent during first nine months of current fiscal year to $17.45 billion as compared with $17 billion in the corresponding months of the last fiscal year.

The trade deficit during first nine months contracted by 26.45 percent to $17.36 billion as compared with the deficit of $23.61 billion in the corresponding period of the last fiscal year.

KARACHI: The Pak Rupee gained 17 paisas against dollar on Friday on reports of significant decline in import bill for the month of March 2020, dealers said.

The rupee ended Rs166.76 to the dollar from previous day’s closing of Rs166.93 in interbank foreign exchange market.

The dealers said that importers were seen cautious to place orders for dollars after considering the latest numbers of imports for the month of March 2020.

The import bill of the country has declined by 21 percent in March 2020 over the previous month owing to lockdown to contain coronavirus pandemic.

The import bill was at $3.3 billion in March 2020 as compared with $4.185 billion in February 2020, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

Similarly, the pandemic also adversely affected the country’s exports. The exports fell by 15.56 percent to $1.8 billion in March 2020 as compared with $2.14 billion in February 2020.

The total import bill during July – March 2019/2020 fell by 14.42 percent to $38.81 billion as compared with $40.68 billion in the corresponding period of the last fiscal year.

However, the exports registered increase of 2.23 percent during first nine months of current fiscal year to $17.45 billion as compared with $17 billion in the corresponding months of the last fiscal year.

The trade deficit during first nine months contracted by 26.45 percent to $17.36 billion as compared with the deficit of $23.61 billion in the corresponding period of the last fiscal year.

KARACHI: The Pak Rupee ended down by 10 paisas against dollar on Thursday due to higher import payments and outflow of hot money.

The rupee ended at Rs166.93 to the dollar from previous day’s closing of Rs166.83 in interbank foreign exchange market.

Currency experts said that the rupee was remained under pressure due to higher import payment demand. They said that importers were purchasing the foreign currency for importing commodities related to month of Ramazan.

The experts pointed out that the outflow of funds invested in domestic debt market also put pressure on the local unit.

The secondary market witnessed outflow of $47.6 million on April 01, 2020 as foreign investors opted to sell treasury bills.

The currency experts said that the rupee may make recover in coming days due to lower international oil prices and reduced consumption of non-oil imported goods locally.

KARACHI: The Pak Rupee ended down by 13 paisas against dollar on Wednesday owing to higher demand from importers and corporate buyers.

The rupee closed at Rs166.83 to the dollar form previous day’s closing of Rs166.70 in interbank foreign exchange market.

The currency experts said that the rupee was remained under pressure due to higher demand from importers and corporate buyers.

They said that imports related to Ramazan was remained high. They further said that the foreign investors also seen taking out funds from domestic debt market.

They said that as the central bank reduced the policy rate by 2.25 percent to bring at 11 percent discouraged the foreign investors of domestic debt market.

A huge fund has been taken out by foreign investors through sale of treasury bills after the reduction in policy rate and also deterioration of international economic conditions after rising pace of coronavirus spread.