Tag: US Dollar

KARACHI: Dollar touches another new peak at Rs207.67 against Pak Rupee (PKR) in the interbank foreign exchange market.

The exchange rate witnessed a decline of Rs1.21 to end at Rs207.67 to the dollar from last day’s closing of Rs206.46, which was the previous record low of the rupee, in the interbank foreign exchange market.

Analysts said that surge in international oil prices and massive decline in foreign exchange reserves had escalated the dollar demand.

READ MORE: Dollar makes fresh high at Rs207.75 in interbank midday trading

The official foreign exchange reserves of the State Bank of Pakistan (SBP) have fallen by $497 million to $9.226 billion by week ended June 03, 2022 as compared with $9.723 billion a week ago i.e. May 27, 2022.

Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by the week ended August 27, 2021. Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $10.92 billion by the week ended June 03, 2022 from touching the peak.

READ MORE: Free-fall in rupee continues, dollar touches new high at Rs206.46

Overall the foreign exchange reserves of the country declined by $595 million to $15.176 billion by the week ended June 03, 2022 as compared with $15.771 billion a week ago.

They said that usually import payments are high in the last month of a fiscal year, especially for oil imports.

It is pertinent to mention that the government had twice increased the prices of petroleum products since May 26, 2022 in order to satisfy the International Monetary Fund (IMF) for the release of next tranche of about $1 billion.

READ MORE: Dollar peaks at Rs206 in interbank midday trading

Although the since announcement of raising petroleum prices the rupee witnessed a recovery. However, the falling foreign exchange reserves of the central bank once again put pressure on the local unit.

The government on May 26, 2022 decided partially withdraw the subsidy to get the next tranche of the IMF, the rupee sharply made gains against the dollar. The local unit made a recovery of Rs4.42 against the dollar during the past five sessions.

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: Rupee’s erosion continues as dollar closes at Rs205.16

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.

Recently the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. However, these measures appeared in failure as the exchange rate yet again deteriorated today massively.

KARACHI: The Pakistan Rupee (PKR) made a new historic low against US Dollar at Rs207.75 during midday trading at interbank foreign exchange market on Thursday.

The exchange rate recorded a decline of Rs1.29 in rupee value to trade at Rs207.75 to the dollar during midday trading. The dollar ended at Rs206.46 on June 15, 2022, which is the latest record high of the foreign currency at interbank closing.

READ MORE: Free-fall in rupee continues, dollar touches new high at Rs206.46

Analysts said that surge in international oil prices and massive decline in foreign exchange reserves had escalated the dollar demand.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) have fallen by $497 million to $9.226 billion by week ended June 03, 2022 as compared with $9.723 billion a week ago i.e. May 27, 2022.

Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

READ MORE: Dollar peaks at Rs206 in interbank midday trading

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by the week ended August 27, 2021. Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $10.92 billion by the week ended June 03, 2022 from touching the peak.

Overall the foreign exchange reserves of the country declined by $595 million to $15.176 billion by the week ended June 03, 2022 as compared with $15.771 billion a week ago.

READ MORE: Rupee’s erosion continues as dollar closes at Rs205.16

They said that usually import payments are high in the last month of a fiscal year, especially for oil imports.

It is pertinent to mention that the government had twice increased the prices of petroleum products since May 26, 2022 in order to satisfy the International Monetary Fund (IMF) for the release of next tranche of about $1 billion.

Although the since announcement of raising petroleum prices the rupee witnessed a recovery. However, the falling foreign exchange reserves of the central bank once again put pressure on the local unit.

READ MORE: Pakistani rupee falls to historic low of Rs203.86 to dollar

The government on May 26, 2022 decided partially withdraw the subsidy to get the next tranche of the IMF, the rupee sharply made gains against the dollar. The local unit made a recovery of Rs4.42 against the dollar during the past five sessions.

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: Rupee recovers to Rs201.52 to dollar in volatile trading

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.

Recently the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. However, these measures appeared in failure as the exchange rate yet again deteriorated today massively.

KARACHI: Free-fall in Pakistan Rupee (PKR) continued on Wednesday as the US dollar hit another record high of Rs206.46 in the interbank foreign exchange market.

The exchange rate witnessed a decline of Rs1.30 to end at Rs206.46 to the dollar from last day’s closing of Rs205.16, the previous record low of the rupee, in the interbank foreign exchange market.

READ MORE: Dollar peaks at Rs206 in interbank midday trading

Analysts said that surge in international oil prices and massive decline in foreign exchange reserves had escalated the dollar demand.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) have fallen by $497 million to $9.226 billion by week ended June 03, 2022 as compared with $9.723 billion a week ago i.e. May 27, 2022.

Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

READ MORE: Rupee’s erosion continues as dollar closes at Rs205.16

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by the week ended August 27, 2021. Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $10.92 billion by the week ended June 03, 2022 from touching the peak.

Overall the foreign exchange reserves of the country declined by $595 million to $15.176 billion by the week ended June 03, 2022 as compared with $15.771 billion a week ago.

READ MORE: Pakistani rupee falls to historic low of Rs203.86 to dollar

They said that usually import payments are high in the last month of a fiscal year, especially for oil imports.

It is pertinent to mention that the government had twice increased the prices of petroleum products since May 26, 2022 in order to satisfy the International Monetary Fund (IMF) for the release of next tranche of about $1 billion.

READ MORE: Rupee recovers to Rs201.52 to dollar in volatile trading

Although the since announcement of raising petroleum prices the rupee witnessed a recovery. However, the falling foreign exchange reserves of the central bank once again put pressure on the local unit.

The government on May 26, 2022 decided partially withdraw the subsidy to get the next tranche of the IMF, the rupee sharply made gains against the dollar. The local unit made a recovery of Rs4.42 against the dollar during the past five sessions.

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 hits record high at Rs202.83 in interbank

Recently the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. However, these measures appeared in failure as the exchange rate yet again deteriorated today massively.

KARACHI: The erosion in value of Pakistan Rupee (PKR) continued on Tuesday as dollar hit another high at Rs205.16 in interbank foreign exchange market.

The exchange rate recorded a decline of Rs1.30 in rupee value to close at Rs205.16 against dollar from previous day’s closing of Rs203.86, which is the previous record low of the rupee, in interbank foreign exchange market.

READ MORE: Pakistani rupee falls to historic low of Rs203.86 to dollar

Currency experts said that foreign payments kept pressure on rupee value during the day. Besides, massive fall in foreign exchange reserves also deteriorated the value of the local currency.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) have fallen by $497 million to $9.226 billion by week ended June 03, 2022 as compared with $9.723 billion a week ago i.e. May 27, 2022.

Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

READ MORE: Rupee recovers to Rs201.52 to dollar in volatile trading

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by the week ended August 27, 2021. Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $10.92 billion by the week ended June 03, 2022 from touching the peak.

Overall the foreign exchange reserves of the country declined by $595 million to $15.176 billion by the week ended June 03, 2022 as compared with $15.771 billion a week ago.

They said that usually import payments are high in the last month of a fiscal year, especially for oil imports.

It is pertinent to mention that the government had twice increased the prices of petroleum products since May 26, 2022 in order to satisfy the International Monetary Fund (IMF) for the release of next tranche of about $1 billion.

READ MORE: Dollar hits record high at Rs202.83 in interbank

Although the since announcement of raising petroleum prices the rupee witnessed a recovery. However, the falling foreign exchange reserves of the central bank once again put pressure on the local unit.

The government on May 26, 2022 decided partially withdraw the subsidy to get the next tranche of the IMF, the rupee sharply made gains against the dollar. The local unit made a recovery of Rs4.42 against the dollar during the past five sessions.

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 hits Rs200.06 as rupee falls sharply in interbank

Recently the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. However, these measures appeared in failure as the exchange rate yet again deteriorated today massively.

KARACHI: The US dollar reached another historic high of Rs205.40 during midday interbank trading on Tuesday.

The rupee witnessed a decline of R1.54 from last day’s closing of Rs203.86, which was the record low of the local unit to the dollar in interbank foreign exchange market.

READ MORE: Pakistani rupee falls to historic low of Rs203.86 to dollar

The currency experts said that the sharp decline in foreign exchange reserves also put pressure on exchange rate.

The rupee hit all-time low at 202.83 against the dollar at interbank closing on June 7, 2022.

Currency experts said that the market remained volatile during the day. This is causing discomfort in the market. Shaking confidence of importers, exporter and foreign investor, according to the expert.

READ MORE: Dollar hits new peak at Rs204 during midday trading

The currency experts said that the rupee was under immense pressure due to import payment demand and falling foreign exchange reserves.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) have fallen by $497 million to $9.226 billion by week ended June 03, 2022 as compared with $9.723 billion a week ago i.e. May 27, 2022.

Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

READ MORE: Rupee recovers to Rs201.52 to dollar in volatile trading

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by the week ended August 27, 2021. Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $10.92 billion by the week ended June 03, 2022 from touching the peak.

Overall the foreign exchange reserves of the country declined by $595 million to $15.176 billion by the week ended June 03, 2022 as compared with $15.771 billion a week ago.

They said that usually import payments are high in the last month of a fiscal year, especially for oil imports.

READ MORE: Dollar hits record high at Rs202.83 in interbank

It is pertinent to mention that the government had twice increased the prices of petroleum products since May 26, 2022 in order to satisfy the International Monetary Fund (IMF) for the release of next tranche of about $1 billion.

Although the since announcement of raising petroleum prices the rupee witnessed a recovery. However, the falling foreign exchange reserves of the central bank once again put pressure on the local unit.

The government on May 26, 2022 decided partially withdraw the subsidy to get the next tranche of the IMF, the rupee sharply made gains against the dollar. The local unit made a recovery of Rs4.42 against the dollar during the past five sessions.

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 hits Rs200.06 as rupee falls sharply in interbank

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.

Recently the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. However, these measures appeared in failure as the exchange rate yet again deteriorated today massively.

KARACHI: Pakistani Rupee (PKR) fell to a historic low of Rs203.86 against the dollar at closing of interbank foreign exchange market on Monday.

The exchange rate witnessed a decline of Rs1.51 in rupee value to end at Rs203.86 against the dollar from last Friday’s closing of Rs202.35 in the interbank foreign exchange market.

The local currency previously witnessed the lowest level of Rs202.83 to the dollar on June 07, 2022.

Currency experts said that massive decline in foreign exchange reserves and high import payment demand kept the local unit under pressure.

READ MORE: Rupee falls to Rs202.35 against dollar ahead budget announcement

They said that the market remained volatile during the day. This is causing discomfort in the market. Shaking confidence of importers, exporter and foreign investor, according to the expert.

The official foreign exchange reserves of the State Bank of Pakistan (SBP) have fallen by $497 million to $9.226 billion by week ended June 03, 2022 as compared with $9.723 billion a week ago i.e. May 27, 2022.

Previously, the foreign exchange reserves held by the central bank were seen at $9.233 billion on December 6, 2019.

READ MORE: Rupee gains against dollar, ends at Rs200.77 in interbank

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by the week ended August 27, 2021. Since touching the peak the central bank’s foreign exchange witnessed a continuous decline. The official reserves of the SBP fell around $10.92 billion by the week ended June 03, 2022 from touching the peak.

Overall the foreign exchange reserves of the country declined by $595 million to $15.176 billion by the week ended June 03, 2022 as compared with $15.771 billion a week ago.

They said that usually import payments are high in the last month of a fiscal year, especially for oil imports.

READ MORE: Rupee recovers to Rs201.52 to dollar in volatile trading

It is pertinent to mention that the government had twice increased the prices of petroleum products since May 26, 2022 in order to satisfy the International Monetary Fund (IMF) for the release of next tranche of about $1 billion.

Although the since announcement of raising petroleum prices the rupee witnessed a recovery. However, the falling foreign exchange reserves of the central bank once again put pressure on the local unit.

The government on May 26, 2022 decided partially withdraw the subsidy to get the next tranche of the IMF, the rupee sharply made gains against the dollar. The local unit made a recovery of Rs4.42 against the dollar during the past five sessions.

READ MORE: Dollar hits record high at Rs202.83 in interbank

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.

Recently the government announced a complete ban on imports to support balance of payment and help the rupee to stabilize. However, these measures appeared in failure as the exchange rate yet again deteriorated today massively.