The Pakistani rupee weakened by 61 paisas against the US dollar on Monday, primarily due to a significant drop in the country’s foreign exchange reserves.
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Pakistan Revenue is committed to providing accurate exchange rates in Pak Rupee for foreign currencies, helping readers stay informed about the fluctuating value of the Pak Rupee in the market.
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Rupee gains 35 paisas on inflows
KARACHI: The Pak Rupee gained 35 paisas against dollar on Friday owing to improved inflows of export receipts and remittances.
The rupee ended Rs164.24 to the dollar from previous day’s closing of Rs164.59 in interbank foreign exchange market.
The rupee gained the value after losing around Rs1.30 against dollar during past four trading days.
Currency dealers said that the forex market witnessed improvement after inflows of foreign remittances and export receipts.
However, the dealers further said that the significant decline in foreign exchange reserves of the country also put pressure on demand side.
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Rupee weakens by four paisas against dollar
The Pakistani Rupee faced a decline of four paisas against the US Dollar on Thursday, closing at Rs164.59 in the interbank foreign exchange market.
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Rupee depreciation against dollar continues
KARACHI: The Pak Rupee continued to slide against dollar on Wednesday and lost 21 paisas owing to higher demand for import and corporate payments.
The rupee ended Rs164.55 to the dollar from previous day’s closing of Rs164.34 in interbank foreign exchange market.
The rupee lost value of around Rs1.25 against dollar during past three trading days.
Currency dealers said that the forex market witnessed pressure for import and corporate payments.
The dealers further said that the significant decline in foreign exchange reserves of the country also put pressure on demand side.
The liquid foreign exchange reserves of the country fell by $1.68 billion to $16.92 billion by week ended May 29, 2020. The total foreign exchange reserves of the country were $18.599 billion a week ago.
The foreign exchange held by the central bank fell by $1.712 billion to $10.362 billion by week ended May 29, 2020 as compared with official reserves of $12.074 billion.
This decline is primarily attributed to the government external debt repayments of $1.669 billion.
The dealers further said that ease in lockdown boosted the economic activities, which also enhanced the demand for imported goods.
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Rupee extends losses against dollar on external payments
KARACHI: The Pak Rupee extended losses for second day against dollar and fell by 72 paisas on external payments, dealers said on Tuesday.
The rupee ended Rs164.34 to the dollar from previous day’s closing of Rs163.62 in interbank foreign exchange market.
The rupee lost value of around Rs1.04 against dollar during past two trading days.
Currency dealers said that the forex market witnessed pressure for import and corporate payments.
The dealers further said that the significant decline in foreign exchange reserves of the country also put pressure on demand side.
The liquid foreign exchange reserves of the country fell by $1.68 billion to $16.92 billion by week ended May 29, 2020. The total foreign exchange reserves of the country were $18.599 billion a week ago.
The foreign exchange held by the central bank fell by $1.712 billion to $10.362 billion by week ended May 29, 2020 as compared with official reserves of $12.074 billion.
This decline is primarily attributed to the government external debt repayments of $1.669 billion.
The dealers further said that ease in lockdown boosted the economic activities, which also enhanced the demand for imported goods.
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Rupee depreciates by 32 paisas on import payment demand
KARACHI: The Pak Rupee depreciated by 32 paisas against dollar on Monday owing to higher demand for foreign currency on opening of the market after two weekly holidays.
The rupee ended Rs163.62 to the dollar from last Friday’s closing of Rs163.30 in interbank foreign exchange market.
Currency dealers said that the forex market witnessed pressure for import and corporate payments.
The dealers further said that the significant decline in foreign exchange reserves of the country also put pressure on demand side.
The liquid foreign exchange reserves of the country fell by $1.68 billion to $16.92 billion by week ended May 29, 2020. The total foreign exchange reserves of the country were $18.599 billion a week ago.
The foreign exchange held by the central bank fell by $1.712 billion to $10.362 billion by week ended May 29, 2020 as compared with official reserves of $12.074 billion.
This decline is primarily attributed to the government external debt repayments of $1.669 billion.
The dealers further said that ease in lockdown boosted the economic activities, which also enhanced the demand for imported goods.
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Rupee makes gain for third consecutive day
KARACHI: The Pak Rupee strengthened by 36 paisas against dollar for third consecutive day on Friday owing to inflows of export receipts and remittances.
The rupee ended at Rs163.30 to the dollar from previous day’s closing of Rs163.66 in interbank foreign exchange market.
Currency experts said that the supply of dollar into the market was seen in shape of remittances and export receipts.
The local currency witnessed gain against dollar for third straight day. The rupee gained Rs1.59 against dollar in last three trading days.
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.
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Rupee further strengthens by 67 paisas against dollar on inflows
KARACHI: The Pak Rupee further gained 67 paisas against dollar on Thursday owing to supply of remittances and export receipts.
The rupee ended Rs163.66 to the dollar from previous day’s closing of Rs164.33 in interbank foreign exchange market.
Currency experts said that the supply of dollar into the market was seen in shape of remittances and export receipts.
The local currency witnessed gain against dollar for second straight day. The rupee gained Rs1.23 against dollar in last two trading days.
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.
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Rupee recovers 56 paisas against dollar on inflows
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.
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Rupee further weakens by 81 paisas against dollar
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.