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KARACHI: The Pak Rupee sharply recovered by Rs4.06 against dollar in midday trading on Friday owing to inflows and ease in payment, dealers said.
The dollar is being traded at Rs160 in interbank foreign exchange market. A day earlier the dollar hit all time high at Rs164.06 in the foreign currency market.
Currency dealers said that the substantail inflows helped the rupee to gain. Further the recovery can also be attributed to ease in big payment of oil import, they added.
KARACHI: The deterioration in Pak Rupee continued against dollar on Thursday as the foreign currency made a new high at Rs164.06 in interbank foreign exchange market.
The rupee fell by Rs1.09 to end at Rs164.06 to the dollar as compared with previous day’s closing of Rs162.17 in interbank foreign exchange market.
The foreign exchange market initiated in the range of Rs164.00 and Rs164.50. The market witnessed day high of Rd164.25 and low at Rs163.80 to the dollar in interbank foreign exchange market.
Currency experts said that due to closing of fiscal year by June 30 put the pressure on dollar buying for import and corporate payments.
The exchange rate in open market also witnessed depreciation of the local unit.
The buying and selling of dollar was recorded at Rs162.50/Rs163.50 as compared with last day’s closing of Rs162.00/Rs163.00 in cash ready market.
KARACHI: The Pak Rupee hit recorded another historic low against dollar on Wednesday by depreciating Rs5.51 in interbank foreign exchange market owing to withdrawal of high denomination prize bonds by the government.
The rupee ended Rs162.17 to the dollar from previous day’s closing of Rs156.99 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs157.00 and Rs158.00. The market recorded day high of Rs162.50 and low of Rs158.50 and ended at Rs162.17.
Currency experts said that the withdrawal of Rs40,000 prize bonds put the pressure on dollar buying.
The government has announced to withdraw the bearer bonds of Rs40,000 bonds by March 2020 and its sales through bank branches has been closed since June 24, 2019.
The exchange rate in open market also witnessed deterioration in rupee value.
The buying and selling of dollar was recorded at Rs162.00/Rs163.00 from previous day’s closing of Rs156.00/Rs156.70 in cash ready market.
KARACHI: The Pak Rupee ended unchanged at all time low against the dollar on Tuesday amid demand for import and corporate payments.
The rupee ended Rs156.99 to the dollar, the same previous day’s level, in interbank foreign exchange market.
The foreign exchange market opened in the range of Rs156.75 and Rs157.00. The market recorded day high of Rs157.00 and low of Rs156.50 in interbank foreign exchange market.
The exchange rate in open market was also remained unchanged. The buying and selling of dollar was recorded at Rs156.00/Rs156.70, the same previous day’s level, in cash ready market.
KARACHI: The Pak Rupee ended down to hit all time low against dollar at closing on Monday owing to pressure from payment for import and corporate.
The rupee ended down by 16 paisas to close at Rs156.99 to the dollar from last Friday’s closing of Rs156.83 in interbank foreign exchange market.
The foreign exchange market initiated at Rs156.98 and Rs157.00. The market recorded day high of Rs157.00 and low of Rs156.75 and closed at Rs156.99.
The exchange rate in open market also witnessed depreciation in local currency value.
The buying and selling of dollar recorded at Rs156.00/Rs156.70 from last Saturday’s closing of Rs155.70/Rs156.70 in cash ready market.
The Pakistani Rupee (PKR) strengthened against the US Dollar on Friday, gaining 13 paisas, buoyed by improved inflows of remittances and reduced demand for import payments. The rupee closed at PKR 156.83 to the dollar, compared to the previous day’s closing rate of PKR 156.96 in the interbank foreign exchange market.
(more…)KARACHI: The Pakistani Rupee held steady against the US Dollar on Thursday, closing at Rs156.96 in the interbank foreign exchange market, a marginal change from the previous day’s close of Rs156.97.
(more…)KARACHI: The Pak Rupee weakened by 16 paisas against dollar on Wednesday owing to higher demand for import and corporate payments.
The rupee ended Rs156.97 to the dollar from previous day’s closing of Rs156.81 in interbank foreign exchange market.
The foreign currency market was initiated in the range of Rs156.85 and Rs156.95.
The marked recorded day high of Rs157.00 and low of Rs156.90 and closed at Rs156.97.
Currency experts said that due to oil payments the demand of greenback was high in the market.
The exchange rate was remained unchanged in open market.
The buying and selling of dollar was recorded at Rs155.50/Rs156.50, the same previous day’s level, in the cash ready market.
KARACHI: The Pak Rupee recovered 15 paisas against dollar on Tuesday day after the press conference of the governor of State Bank of Pakistan (SBP) for clarifying many issues about the economy.
The rupee ended Rs156.81 to the dollar from previous day’s closing of Rs156.96 in interbank foreign exchange market.
The foreign exchange market was initiated in the range of Rs156.60 and Rs156.90. The market witnessed day high of Rs156.85 and low of Rs156.40 and closed Rs156.81.
A day earlier SBP governor Reza Baqir conducted a press briefing and clarified many issues pertaining to the economy, which boosted the confidence in the market.
The exchange rate in the open market was remained unchanged.
The buying and selling of the dollar was recorded at Rs155.50/Rs156.50 same previous day’s closing in cash ready market.
KARACHI: The Pak Rupee hit another historic low after depreciation of Rs1.11 against US dollar on Monday owing to payment pressure for oil import.
The rupee ended Rs156.96 to the dollar as compared with last Friday’s closing of Rs155.85 in interbank foreign exchange market.
The foreign currency market initiated in the range of Rs156.50 and Rs157.00. The market witnessed day high of Rs157.00 and low of Rs156.96 and closed at Rs156.96 in interbank foreign exchange market.
However, the exchange rate in open market witnessed appreciation of rupee value.
The buying and selling of dollar was recorded at Rs155.50/Rs156.50 from last Saturday’s close of Rs156.00/Rs157.00 in cash free market.
The rupee witnessed depreciation for the last more than one and half years. The rupee was kept stable by the previous government in order to control the economic imbalances.
However, keeping the rupee stable against dollar created balloon in the economy. Now the government is under negotiation with the IMF to bargain a new loan program, which is almost finalized. The IMF board is scheduled to meet next week to review Pakistan’s request for new loan program.