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Tag: US Dollar

  • Dollar weakens by PKR 17.77 in 10 sessions amid tight monitoring on transactions

    Dollar weakens by PKR 17.77 in 10 sessions amid tight monitoring on transactions

    KARACHI: The US dollar weakened against the Pakistani Rupee (PKR) for the 10th consecutive sessions on Thursday amid tight monitoring of foreign currency transactions.

    The exchange rate witnessed an appreciation of 17.77 in rupee value against the dollar during the last 10 straight sessions.

    READ MORE: PKR recovers against dollar for ninth consecutive session

    On Thursday the local currency gained PKR 2 to end at PKR 221.94 against the dollar from previous day’s closing of PKR 223.94 in the interbank foreign exchange market.

    The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 221.94 on October 06, 2022.

    Currency experts said that tight monitoring of the State Bank of Pakistan (SBP) on foreign currency transactions helped the rupee to make gain.

    READ MORE: PKR maintains winning streak against dollar on 8th straight session

    Recently, the SBP had amended foreign exchange regulations with an objective to promote documentation and transparency in the foreign exchange transactions between exchange companies.

    In terms of revised regulations, it has been made mandatory for Exchange Companies, Franchises of Exchange Companies and Exchange Companies of ‘B’ Category to settle Pakistan Rupee consideration of all foreign currency purchase/ sale transactions conducted among themselves through their bank accounts.

    Besides, stress has been laid on ensuring that CCTV Systems of Exchange Companies and Exchange Companies of ‘B’ Category should be functional at all times (i.e. 24 hours a day and 7 days a week) as required under existing regulations.

    READ MORE: PKR continues upward journey for seventh consecutive session against dollar

    However, in order to ensure transparency, it has been advised that Exchange Companies and Exchange Companies of ‘B’ Category shall not carry out any business activity during the period in which CCTV system is non-functional at any of their outlet for any reason, including technical faults, until the functionality of the CCTV system is restored.

    Moreover, minimum preservation period of video recording through CCTV system has been enhanced from two to six months or until the inspection of the company by SBP, whichever is earlier.

    READ MORE: Rupee gains for sixth straight session against dollar; recovers PKR 11.26

    This would ensure availability of CCTV recording for audit/inspection purposes, according to the SBP.

    Besides, currency experts said that the rupee was appreciating against the dollar due to positive sentiments following assumption of Ishaq Dar as the finance minister. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.

    Meanwhile, the international oil prices also softened which helped the rupee to make gains.

    The local currency witnessed the historic low at PKR 239.94 to the dollar on July 28, 2022.

  • Govt. trying to bring down dollar price: Dar

    Govt. trying to bring down dollar price: Dar

    ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the government is trying to bring down the dollar price in order to ease the inflationary pressure.

    According to state media the finance minister said the government is taking measures to bring down dollar price to 200 rupees after which the prices of daily commodities would also come down.

    He said there is also a strong will to reduce inflation from 12 to 14 per cent and giving relief to common man.

    READ MORE: PKR recovers against dollar for ninth consecutive session

    He said stabilizing national currency against US dollar would have positive impact on every citizen’s life.

    Responding to a question, Ishaq Dar said the government is committed to fulfill the agreement made with the International Monetary Fund (IMF).

    READ MORE: PKR maintains winning streak against dollar on 8th straight session

    It is worth mentioning that Pakistani Rupee (PKR) a day earlier continued recovery against the dollar for 9th straight session in the interbank foreign exchange market.

    The rupee gained 1.70 to end at PKR 223.94 to the dollar from previous day’s closing of PKR 225.64 in the interbank foreign exchange market.

    READ MORE: PKR continues upward journey for seventh consecutive session against dollar

    The local currency gained PKR 15.77 against the dollar during the last nine sessions. The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 223.94 on October 05, 2022.

    Currency experts said that the rupee was appreciating against the dollar due to positive sentiments following assumption of Ishaq Dar as the finance minister. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.

    Meanwhile, the international oil prices also crashed which helped the rupee to make gains.

    READ MORE: Rupee gains for sixth straight session against dollar; recovers PKR 11.26

  • Pakistani Rupee to US Dollar on October 06, 2022

    Pakistani Rupee to US Dollar on October 06, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on October 06, 2022:

    Buying: Rs 224.50 to the US Dollar

    Selling: Rs 226.50 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on October 05, 2022

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    Pakistani Rupee to Saudi Riyal on October 06, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on October 06, 2022:

    Buying: Rs 59.60 to the Saudi Riyal

    Selling: Rs 60.20 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Saudi Riyal on October 05, 2022

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    Pakistani Rupee to Euro on October 06, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on October 06, 2022:

    Buying: Rs 222.00 to the Euro

    Selling: Rs 224.20 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on October 05, 2022

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    Pakistani Rupee to UK Pound Sterling on October 06, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on October 06, 2022:

    Buying: Rs 256.00 to the UK Pound Sterling

    Selling: Rs 258.60 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on October 05, 2022

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    Pakistani Rupee to UAE Dirham on October 06, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on October 06, 2022:

    Buying: Rs 61.20 to the UAE Dirham

    Selling: Rs 61.80 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on October 05, 2022

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    Pakistani Rupee to Canadian Dollar on October 06, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on October 06, 2022:

    Buying: Rs 164.00 to the Canadian Dollar

    Selling: Rs 166.00 to the Canadian Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on October 05, 2022

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    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • PKR recovers against dollar for ninth consecutive session

    PKR recovers against dollar for ninth consecutive session

    KARACHI: Pakistani Rupee (PKR) on Wednesday continued recovery against the dollar for 9th straight session in the interbank foreign exchange market.

    The rupee gained 1.70 to end at PKR 223.94 to the dollar from previous day’s closing of PKR 225.64 in the interbank foreign exchange market.

    READ MORE: PKR maintains winning streak against dollar on 8th straight session

    The local currency gained PKR 15.77 against the dollar during the last nine sessions. The exchange rate reached to near record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 223.94 on October 05, 2022.

    Currency experts said that the rupee was appreciating against the dollar due to positive sentiments following assumption of Ishaq Dar as the finance minister. Dar recently claimed that the actual value of the dollar is below PKR 200 and he vowed to bring it down.

    Meanwhile, the international oil prices also crashed which helped the rupee to make gains.

    READ MORE: PKR continues upward journey for seventh consecutive session against dollar

    It is worth mentioning that the rupee on last Friday recovered against the dollar after witnessing a consecutive 15-session fall.

    During this period the local currency depreciated by PKR 21.10 against the dollar from the interbank closing on September 01, 2022 at PKR 218.60.

    The local currency witnessed the historic low at PKR 239.94 to the dollar on July 28, 2022.

    Currency experts said that the rupee recovered because of the contraction in the current account deficit. Pakistan current account deficit recorded a contraction of 19 per cent during the first two months (July – August) of the current fiscal year 2022/2023.

    READ MORE: Rupee gains for sixth straight session against dollar; recovers PKR 11.26

    Further, the experts said that the recent measures taken by the SBP also helped the rupee to gain value.

    However, the rupee failed to get support from the latest announcement of the State Bank of Pakistan (SBP) about the funds of Saudi Arabia.

    The rupee has witnessed a continuous depreciation against the greenback even after the inflows received from the International Monetary Fund (IMF).

    The local currency recorded some recovery against the greenback after the IMF fund was transferred to the State Bank of Pakistan (SBP). However, the removal of sanction on import of luxury and non-essential items the rupee again started free fall.

    READ MORE: PKR makes recovery against dollar for fourth straight session

    The currency experts said that although the IMF inflows would help the further inflows under bilateral and multilateral sources. However, the devastation of floods has changed the economic environment scenario.

    The torrential rains and flash floods have inflicted a loss of over $10 billion to Pakistan’s economy. The devastation will prompt the country to make imports in the coming days, especially for agriculture products.

    The rupee also fell due to continuous depletion in foreign exchange reserves of the country.

  • Dollar crashes to PKR 223.50 in midday interbank trading

    Dollar crashes to PKR 223.50 in midday interbank trading

    KARACHI: The US dollar has crashed against the Pakistani Rupee (PKR) and lost around PKR 16.21 since September 22, 2022 and is being trading at PKR 223.50.

    (more…)
  • Pakistani Rupee to US Dollar on October 05, 2022

    Pakistani Rupee to US Dollar on October 05, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on October 05, 2022:

    Buying: Rs 225.50 to the US Dollar

    Selling: Rs 227.50 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on October 04, 2022

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    Pakistani Rupee to Canadian Dollar on October 05, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on October 05, 2022:

    Buying: Rs 163.50 to the Canadian Dollar

    Selling: Rs 168.50 to the Canadian Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on October 04, 2022

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    Pakistani Rupee to UAE Dirham on October 05, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on October 05, 2022:

    Buying: Rs 61.00 to the UAE Dirham

    Selling: Rs 63.00 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on October 04, 2022

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    Pakistani Rupee to UK Pound Sterling on October 05, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on October 05, 2022:

    Buying: Rs 254.00 to the UK Pound Sterling

    Selling: Rs 259.50 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on October 04, 2022

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    Pakistani Rupee to Euro on October 05, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on October 05, 2022:

    Buying: Rs 221.00 to the Euro

    Selling: Rs 226.00 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on October 04, 2022

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    Pakistani Rupee to Saudi Riyal on October 05, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on October 05, 2022:

    Buying: Rs 59.50 to the Saudi Riyal

    Selling: Rs 61.00 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Saudi Riyal on October 04, 2022

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    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • PKR maintains winning streak against dollar on 8th straight session

    PKR maintains winning streak against dollar on 8th straight session

    KARACHI: Pakistani Rupee (PKR) on Tuesday maintained winning streak against the US Dollar for eighth consecutive session.

    The rupee gained 1.65 to end at PKR 225.64 to the dollar from previous day’s closing of PKR 227.29 in the interbank foreign exchange market.

    READ MORE: PKR continues upward journey for seventh consecutive session against dollar

    The local currency gained PKR 14.07 against the dollar during the last eight sessions. The exchange rate reached a record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 225.64 on October 04, 2022.

    Currency experts said that latest appreciation in rupee value was due to a statement of Finance Minister Ishaq Dar, who a day earlier said the PKR was undervalued and actual value of the dollar was less than PKR 200.

    READ MORE: Rupee gains for sixth straight session against dollar; recovers PKR 11.26

    Meanwhile, the international oil prices also crashed which helped the rupee to make gains.

    It is worth mentioning that the rupee on last Friday recovered against the dollar after witnessing a consecutive 15-session fall.

    During this period the local currency depreciated by PKR 21.10 against the dollar from the interbank closing on September 01, 2022 at PKR 218.60.

    The local currency witnessed the historic low at PKR 239.94 to the dollar on July 28, 2022.

    Currency experts said that the rupee recovered because of the contraction in the current account deficit. Pakistan current account deficit recorded a contraction of 19 per cent during the first two months (July – August) of the current fiscal year 2022/2023.

    READ MORE: PKR makes recovery against dollar for fourth straight session

    Further, the experts said that the recent measures taken by the SBP also helped the rupee to gain value.

    However, the rupee failed to get support from the latest announcement of the State Bank of Pakistan (SBP) about the funds of Saudi Arabia.

    The rupee has witnessed a continuous depreciation against the greenback even after the inflows received from the International Monetary Fund (IMF).

    The local currency recorded some recovery against the greenback after the IMF fund was transferred to the State Bank of Pakistan (SBP). However, the removal of sanction on import of luxury and non-essential items the rupee again started free fall.

    READ MORE: PKR strengthens sharply to dollar during last three sessions

    The currency experts said that although the IMF inflows would help the further inflows under bilateral and multilateral sources. However, the devastation of floods has changed the economic environment scenario.

    The torrential rains and flash floods have inflicted a loss of over $10 billion to Pakistan’s economy. The devastation will prompt the country to make imports in the coming days, especially for agriculture products.

    The rupee also fell due to continuous depletion in foreign exchange reserves of the country.

  • Pakistani Rupee to US Dollar on October 04, 2022

    Pakistani Rupee to US Dollar on October 04, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on October 04, 2022:

    Buying: Rs 227.25 to the US Dollar

    Selling: Rs 227.50 to the US Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on October 03, 2022

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    Pakistani Rupee to Saudi Riyal on October 04, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on October 04, 2022:

    Buying: Rs 60.60 to the Saudi Riyal

    Selling: Rs 61.20 to the Saudi Riyal

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Saudi Riyal on October 03, 2022

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    Pakistani Rupee to Euro on October 04, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on October 04, 2022:

    Buying: Rs 222.20 to the Euro

    Selling: Rs 224.40 to the Euro

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on October 03, 2022

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    Pakistani Rupee to UK Pound Sterling on October 04, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on October 04, 2022:

    Buying: Rs 256.00 to the UK Pound Sterling

    Selling: Rs 258.50 to the UK Pound Sterling

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on October 03, 2022

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    Pakistani Rupee to UAE Dirham on October 04, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on October 04, 2022:

    Buying: Rs 62.20 to the UAE Dirham

    Selling: Rs 62.80 to the UAE Dirham

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells the foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on October 03, 2022

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    Pakistani Rupee to Canadian Dollar on October 04, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on October 04, 2022:

    Buying: Rs 165.00 to the Canadian Dollar

    Selling: Rs 167.00 to the Canadian Dollar

    The buying rate means an exchange company or a bank buys foreign currency from a customer.

    The selling rate means an exchange company or a bank sells for foreign currency from a customer.

    The rate has been updated at 09:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on October 03, 2022

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    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

  • Dollar slips to PKR 225.50 in early interbank trading

    Dollar slips to PKR 225.50 in early interbank trading

    KARACHI: US dollar slipped against Pakistani Rupee (PKR) by 1.79 to PKR 225.50 in early trading at interbank foreign exchange market on Tuesday.

    The dollar is being traded at PKR 225.50 as compared with the last day’s closing of PKR 227.29 in interbank foreign exchange market.

    Experts said that latest statement of Finance Minister Ishaq Dar helped the rupee to make gain.

    The finance minister a day earlier said that the local unit is undervalued and actual value of dollar is below PKR 200. Furthermore, he vowed to bring down the value of the greenback in coming days.

    READ MORE: PKR continues upward journey for seventh consecutive session against dollar

    It is worth mentioning that the rupee is constantly gaining value against the dollar since the nomination and assumption the charge of finance ministry by Ishaq Dar.

    The PKR a day earlier continued its upward journey against the greenback and strengthened for seventh consecutive session.

    The rupee made a gain of PKR 1.16 to end at PKR 227.29 against the dollar as compared with last Friday’s closing of PKR 228.45 in the interbank foreign exchange market.

    The local unit gained PKR 12.42 against the dollar during the last five sessions. The exchange rate reached a record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 227.29 on October 01, 2022.

    READ MORE: Rupee gains for sixth straight session against dollar; recovers PKR 11.26

    It is worth mentioning that the local unit recorded the all-time low level of PKR 239.94 to the dollar on July 28, 2022. Although after the IMF deal the rupee appreciated against the dollar but following the disbursement of funds under Extended Fund Facility (EFF) the rupee again witnessed a steep decline to reach near to the record low at PKR 239.71 to the dollar on September 22, 2022.

    READ MORE: PKR makes recovery against dollar for fourth straight session

    Khurram Schehzad, a senior analyst, said the finance minister should not talk about setting currency parity, or at least not that openly, as its purely the prerogative of State Bank of Pakistan (SBP) and we have committed this in writing with the IMF that no one, at least from the ministry of finance will intervene in any way into the central bank matters.

    “We should rather hold SBP accountable for achieving realistic currency parity (in line with fundamentals) as well as taming inflation (demand side), while managing the supply-side disruptions by a thorough strategy (farm to market management with necessary imports in time),” he added.

    READ MORE: PKR strengthens sharply to dollar during last three sessions

  • Dollar’s actual value less than PKR 200: Ishaq Dar

    Dollar’s actual value less than PKR 200: Ishaq Dar

    ISLAMABAD: Finance Minister Ishaq Dar on Monday said that the actual value of the US dollar is less than Pakistani Rupee (PKR) 200 and he vowed to bring down the exchange rate.

    Talking to a private news channel, the finance minister the local currency is undervalued.

    READ MORE: PKR continues upward journey for seventh consecutive session against dollar

    It is worth mentioning that the rupee is constantly gaining value against the dollar since the nomination and assumption the charge of finance ministry by Ishaq Dar.

    The PKR on Monday continued its upward journey against the greenback and strengthened for seventh consecutive session.

    The rupee made a gain of PKR 1.16 to end at PKR 227.29 against the dollar as compared with last Friday’s closing of PKR 228.45 in the interbank foreign exchange market.

    The local unit gained PKR 12.42 against the dollar during the last five sessions. The exchange rate reached a record low of PKR 239.71 on September 22, 2022 to the dollar but ended at PKR 227.29 on October 01, 2022.

    READ MORE: Rupee gains for sixth straight session against dollar; recovers PKR 11.26

    It is worth mentioning that the local unit recorded the all-time low level of PKR 239.94 to the dollar on July 28, 2022. Although after the IMF deal the rupee appreciated against the dollar but following the disbursement of funds under Extended Fund Facility (EFF) the rupee again witnessed a steep decline to reach near to the record low at PKR 239.71 to the dollar on September 22, 2022.

    READ MORE: PKR makes recovery against dollar for fourth straight session

    Khurram Schehzad, a senior analyst, said the finance minister should not talk about setting currency parity, or at least not that openly, as its purely the prerogative of State Bank of Pakistan (SBP) and we have committed this in writing with the IMF that no one, at least from the ministry of finance will intervene in any way into the central bank matters.

    “We should rather hold SBP accountable for achieving realistic currency parity (in line with fundamentals) as well as taming inflation (demand side), while managing the supply-side disruptions by a thorough strategy (farm to market management with necessary imports in time),” he added.

    READ MORE: PKR strengthens sharply to dollar during last three sessions