Tag: Pak Rupee

In Karachi, the Pakistani Rupee showcased resilience on Friday, gaining 16 paisas against the US Dollar and breaking a four-day losing streak in the interbank foreign exchange market.

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KARACHI: The Pak Rupee declined by another 71 paisas against dollar on Thursday amid global financial crisis have been deepened after World Health Organization (WHO) declared coronavirus as global epidemic.

The rupee ended Rs159.14 to the dollar from previous day’s closing of Rs158.43 in interbank foreign exchange market.

The local currency fell by Rs4.89 or 3.16 percent against dollar during past four days trading.

Currency experts said the outflow of investment from local debt securities was the primary reason for the rupee devaluation.

The foreign currency market was initiated in the range of Rs158.95 and Rs159.10. The market recorded day high of Rs159.25 and low of Rs158.85 and close at Rs159.14.

The exchange rate in open market also witnessed devaluation in rupee value. The buying and selling of dollar was recorded at Rs157.50/Rs158.50 from previous day’s closing of Rs158.00/Rs158.50 in cash ready market.

KARACHI: The Pak Rupee fell by 98 paisas against dollar on Wednesday owing to outflow of hot money from domestic debt market, currency dealers said.

The rupee ended at Rs158.43 to the dollar from previous day’s closing of Rs157.45 in interbank foreign exchange market.

The rupee fell for the third consecutive day and lost around Rs4.19 against the dollar.

The currency dealers said that the rupee was under pressure due to announcement of monetary policy scheduled for March 17, 2020.

Currency experts said that the market is expecting a massive policy rate cut in the upcoming monetary policy statement. They said that currently the investment in local debt market was due to higher policy rate of 13.25 percent.

The foreign currency market was initiated in the range of Rs157.40 and Rs157.70. The market recorded day high Rs158.75 and low of Rs157.30 and closed at Rs158.43.

The exchange rate in open market also witnessed sharp decline in rupee value. The buying and selling of dollar was recorded at Rs157.00/Rs158.00 from previous day’s closing of Rs156.00/Rs157.00 in cash ready market.

KARACHI: The Pak Rupee fell by 87 paisas against dollar on Tuesday amid recovery in stock markets.

The rupee closed at Rs157.45 to the dollar from previous day’s close of Rs156.58 in interbank foreign exchange market.

The local unit witnessed Rs3.20 decline during past two days against the dollar.

Currency dealers said that the currency market was volatile during the day due to massive decline of stock markets in the UK and the US. They said that the market was anticipating outflows of foreign investment from the domestic debt market.

The foreign currency market was initiated in range between of Rs157.25 and Rs157.75. The market recorded day high of Rs158.00 and low of Rs156.50 and closed at Rs157.45.

The exchange rate in open market, however, maintained the levels. The buying and selling of dollar was recorded Rs156.70/Rs157.00, the same previous day’s closing in cash ready market.

KARACHI: The Pak Rupee witnessed significant decline at the opening of trade on Tuesday. The rupee lost Rs1.17 paisas against dollar in early trade, dealers said.

The dollar is being traded atRs157.75 to the dollar from last day’s closing of Rs156.58 in interbank foreign exchange market.

Currency experts said that the massive losses in world stock markets motivated investors to consolidate their funds. Due to these reasons outflows in portfolio investments in debt securities market would had happened.

The rupee lost Rs3.51 in last two days.

KARACHI: The rupee fell by Rs2.34 against dollar on Monday due to panic prevailed following massive decline in global stock markets.

The rupee ended Rs156.58 to the dollar from last Friday’s closing of Rs156.24 in interbank foreign exchange market.

Currency experts said that due to high volatility in the local stock market the currency market followed the suit. The benchmark KSE-100 of Pakistan Stock Exchange (PSX) recorded decline of 1161 points on Monday.

However, they believed that the falling international oil prices would help the local currency to make gain in coming days.

The foreign currency market was initiated in the range of Rs154.52 and Rs154.70. The market recorded day high of Rs156.70 and low of Rs154.70 and closed at Rs156.58.

The exchange rate in open market also witnessed depreciation in rupee value. The buying and selling of dollar was recorded at Rs156.70/Rs157.00 from last Friday’s closing of Rs154.00/Rs154.30, in cash ready market.

KARACHI: The foreign currency market followed the stock market decline as Pak Rupee depreciated by 81 paisas against dollar in early trading on Monday.

The dollar is being traded at Rs155.05 in early trade in interbank foreign exchange market.

The rupee was ended Rs154.24 to the dollar on last Friday trading.

Earlier in the day the stock market was crashed and stopped trading. The market fell below five percent on record low in international oil prices.

Analysts at currency market said that the currency market was facing import of uncertainty in the stock market.

KARACHI: The Pak Rupee ended five paisas down against dollar on Thursday owing to demand for import payment, dealers said.

The rupee ended Rs154.27 to the dollar from previous day’s closing of Rs154.22 in interbank foreign exchange market.

The dealers said that earlier in the date the rupee gained value owing to inflows of workers remittances and export receipts. However, later import payment demand deteriorated value of the local currency.

The rupee gained values during the past few days owing to lower demand for import payment after coronavirus spread in many countries.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.00/Rs154.30, the same previous day’s level, in cash ready market.

KARACHI: The Pak Rupee gained seven paisas against dollar on Wednesday owing to lower import and corporate demand, dealers said.

The rupee ended Rs154.22 to the dollar from previous day’s closing of Rs154.29 in interbank foreign exchange market.

The currency dealers said that lackluster demand was seen from importer and corporate buyers for the dollar.

The said that due to coronavirus threat, which spread in many countries, many states imposed restrictions imports from those countries where infections had been detected.

Certain checks have also been imposed by the government on imports from such countries particularly from China, which is the center-point of this epidemic.

The exchange rate in open market witnessed no change in rupee value. The buying and selling of dollar was recorded at Rs154.00/Rs154.30, the same previous day’s closing, in cash ready market.