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  • Rupee drops to Rs210.10 against dollar in interbank

    Rupee drops to Rs210.10 against dollar in interbank

    KARACHI: The Pakistani Rupee (PKR) fell sharply by Rs2.19 to Rs210.10 against the US dollar in the interabnk foreign exchange market on Wednesday owing to high demand for import payments and uncertainty over IMF loan program.

    The exchange rate ended recorded a decline in rupee value of Rs2.19 to end at Rs210.10 to the dollar from previous closing of Rs207.91 on July 07, 2022, in the interbank foreign exchange market.

    READ MORE: Rupee recovers to dollar ahead Eid holidays

    The foreign exchange market was opened after five days long Eid holidays, which resulted in high dollar demand for import and corporate payments.

    Further, the uncertainty over IMF loan program has also created panic in the market.

    The rupee has recorded all-time low at Rs211.92 on June 22, 2022.

    Currency experts said that falling foreign exchange reserves were also major reason for the rupee depreciation.

    READ MORE: Dollar ends near Rs208 in interbank; Rupee fall continues

    The foreign exchange reserves of Pakistan have depleted by $454 million to $15.742 billion by week ended June 30, 2022. The foreign exchange reserves of the country were at $16.196 billion a week ago i.e. June 24, 2022.

    The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $11.486 billion.

    The official reserves of the State Bank also recorded a decline of $493 million to $9.816 billion by week ended June 30, 2022 as compared with $10.309 billion a week ago.

    READ MORE: Rupee sharply falls Rs206.94 to dollar in interbank

    The central bank attributed the decline in foreign exchange reserves to external debt repayments.

    It is pertinent to mention that the SBP received about $2.3 billion from Chinese banks for buildup of foreign exchange reserves. However, despite receiving the amount the external debt payment kept the pressure on the reserves.

    The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by week ended August 27, 2021. Since then the official reserves of the SBP declined by $10.33 billion.

    READ MORE: Rupee falls 46 paisas to dollar despite Chinese inflows

    The SBP on July 07, 2022 announced a hike of 125 basis points in policy rate to bring at 15 per cent. The purpose of increasing the interest rate was to curb the demand and support the rupee value.

    However, the effort of the SBP failed to support the rupee value.

  • Pakistani Rupee to US Dollar on July 13, 2022

    Pakistani Rupee to US Dollar on July 13, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 13, 2022:

    Buying: Rs 206.10 to the US Dollar

    Selling: Rs 209.60 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 09:58 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.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. 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.

    READ MORE: Pakistani Rupee to US Dollar on July 12, 2022

  • Pakistani Rupee to US Dollar on July 12, 2022

    Pakistani Rupee to US Dollar on July 12, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 12, 2022:

    Buying: Rs 206.10 to the US Dollar

    Selling: Rs 209.60 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 10:38 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.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. 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.

    READ MORE: Pakistani Rupee to US Dollar on July 11, 2022

  • Pakistani Rupee to US Dollar on July 11, 2022

    Pakistani Rupee to US Dollar on July 11, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 11, 2022:

    Buying: Rs 206.10 to the US Dollar

    Selling: Rs 209.60 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 01:04 PM 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.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. 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.

    READ MORE: Pakistani Rupee to US Dollar on July 10, 2022

  • Pakistani Rupee to US Dollar on July 10, 2022

    Pakistani Rupee to US Dollar on July 10, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 10, 2022:

    Buying: Rs 206.10 to the US Dollar

    Selling: Rs 209.60 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 08:57 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.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. 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.

    READ MORE: Pakistani Rupee to US Dollar on July 09, 2022

  • Pakistani Rupee to US Dollar on July 09, 2022

    Pakistani Rupee to US Dollar on July 09, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 09, 2022:

    Buying: Rs 206.10 to the US Dollar

    Selling: Rs 209.60 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 11:40 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.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. 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.

    READ MORE: Pakistani Rupee to US Dollar on July 08, 2022

  • Pakistani Rupee to US Dollar on July 08, 2022

    Pakistani Rupee to US Dollar on July 08, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 08, 2022:

    Buying: Rs 206.00 to the US Dollar

    Selling: Rs 209.50 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 09:23 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.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. 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.

    READ MORE: Pakistani Rupee to US Dollar on July 07, 2022

  • Rupee recovers to dollar ahead Eid holidays

    Rupee recovers to dollar ahead Eid holidays

    KARACHI: The Pakistan Rupee (PKR) recovered eight paisas against the dollar on Thursday ahead of long holidays for Eid ul Adha.

    The exchange rate recorded a gain of eight paisas in rupee value to end at Rs207.91 to the dollar from previous day’s closing of Rs207.99 in the interbank foreign exchange market.

    READ MORE: Dollar ends near Rs208 in interbank; Rupee fall continues

    The government has announced holidays from July 08 to July 12, 2022 on the account of Eid ul Adha.

    Currency experts said that the foreign exchange market was expecting a monetary tightening in today’s (July 7) monetary policy meeting. They said that the market was anticipating another 100 basis points hike which would ease pressure on dollar demand.

    The rupee recorded an all-time low Rs211.93 to the dollar on June 22, 2022.

    READ MORE: Rupee sharply falls Rs206.94 to dollar in interbank

    The local currency ended the fiscal year 2021/2022 with a massive decline of 30 per cent against the dollar. The exchange rate witnessed a decline of Rs47.31 or 30 per cent from Rs157.54 on the start of July 01, 2021 to the closing of Rs204.85 on June 30, 2022.

    During the year the currency was under pressure due to higher economic demand, political instability and severe balance of payment crisis.

    The rupee is making recovery after the country received $2.3 billion from Chinese banks. Furthermore, reports of finalization of agreement between Pakistan and IMF also supported the rupee. The country is expecting an inflow of around $1.9 billion from the IMF.

    READ MORE: Rupee falls 46 paisas to dollar despite Chinese inflows

    The rupee remained under pressure against the greenback during the current fiscal year. The State Bank of Pakistan (SBP) has taken various measures to support balance of payment and the local currency. However, the measures ended in a failure to help the rupee to recover losses.

    The SBP on May 23, 2022 announced a sharp increase in policy rate by 150 basis points to 13.75 per cent from 12.25 per cent.

    READ MORE: Dollar gains 25 paisas to PKR on forex reserves decline

    In addition to that the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. But all these measures appeared in failure as the exchange rate yet again deteriorated today massively.

  • Pakistani Rupee to US Dollar on July 07, 2022

    Pakistani Rupee to US Dollar on July 07, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 07, 2022:

    Buying: Rs 206.00 to the US Dollar

    Selling: Rs 209.50 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 11:43 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.

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. 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.

    READ MORE: Pakistani Rupee to US Dollar on July 06, 2022

  • Dollar ends near Rs208 in interbank; Rupee fall continues

    Dollar ends near Rs208 in interbank; Rupee fall continues

    KARACHI: The US dollar ended near Rs208 as the Pakistan Rupee (PKR) continued depreciation on Wednesday in interbank foreign exchange market.

    The exchange rate recorded a decline of Rs1.05 in rupee value to end at Rs207.99 to the dollar from previous day’s closing of Rs206.94 in the interbank foreign exchange market.

    READ MORE: Rupee sharply falls Rs206.94 to dollar in interbank

    The local currency fell for the second straight day after making a recovery on the first trading day i.e. July 04, 2022.

    The rupee recorded an all-time low Rs211.93 to the dollar on June 22, 2022.

    Currency experts said that market witnessed advance demand for dollars due to long holidays ahead. The government has announced July 8 to July 12 as Eid holidays.

    READ MORE: Rupee falls 46 paisas to dollar despite Chinese inflows

    The local currency ended the fiscal year 2021/2022 with a massive decline of 30 per cent against the dollar. The exchange rate witnessed a decline of Rs47.31 or 30 per cent from Rs157.54 on the start of July 01, 2021 to the closing of Rs204.85 on June 30, 2022.

    During the year the currency was under pressure due to higher economic demand, political instability and severe balance of payment crisis.

    READ MORE: Dollar gains 25 paisas to PKR on forex reserves decline

    The rupee is making recovery after the country received $2.3 billion from Chinese banks. Furthermore, reports of finalization of agreement between Pakistan and IMF also supported the rupee. The country is expecting an inflow of around $1.9 billion from the IMF.

    The rupee remained under pressure against the greenback during the current fiscal year. The State Bank of Pakistan (SBP) has taken various measures to support balance of payment and the local currency. However, the measures ended in a failure to help the rupee to recover losses.

    READ MORE: Dollar retreats to Rs207.23 at interbank closing

    The SBP on May 23, 2022 announced a sharp increase in policy rate by 150 basis points to 13.75 per cent from 12.25 per cent.

    In addition to that the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. But all these measures appeared in failure as the exchange rate yet again deteriorated today massively.

    READ MORE: Rupee slips to new low at Rs211.93 against dollar