Tag: US Dollar

KARACHI: The US dollar hit a record high of 194 against the Pakistan Rupee (PKR) during midday trading at interbank foreign exchange market on Monday.

The exchange rate witnessed a loss of Rs1.47 in the local currency value against the greenback. The dollar is being traded at Rs194.

READ MORE: Rupee falls for 8th straight day; dollar hits Rs192.53

Currency experts said that massive fall in foreign exchange reserves and high import payments were the major reasons behind rupee fall.

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

READ MORE: Rupee fall continues; dollar hits new high at Rs191.77

The country’s foreign exchange reserves hit record high at $27.228 billion by week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by week ended May 6, 2022 as compared with $10.499 billion a week ago.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

The SBP reserves reached to record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

READ MORE: Rupee hits all-time low at Rs188.66 to dollar

Pakistan is net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of country.

KARACHI: The Pakistan Rupee (PKR) continued to slide against the US dollar for eighth straight day and reached to historic low at Rs192.53 on Friday.

The exchange rate witnessed a decline of 76 paisas in rupee value to reach Rs192.53, making fresh low against the US dollar in interbank foreign exchange market. The exchange rate was at Rs191.77 a day earlier at closing in interbank foreign exchange market.

READ MORE: Rupee fall continues; dollar hits new high at Rs191.77

Currency experts said that the falling foreign exchange reserves were main reason behind the free-fall in rupee value.

Pakistan’s foreign exchange reserves fell by $177 million to $16.376 billion by week ended May 6, 2022. The foreign exchange reserves of the country were $16.553 billion by week ended April 30, 2022.

The country’s foreign exchange reserves hit record high at $27.228 billion by week ended August 27, 2021. Since then the foreign exchange reserves have depleted by $10.852 billion.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

The official reserves of the State Bank witnessed a decline of $190 million to $10.309 billion by week ended May 6, 2022 as compared with $10.499 billion a week ago.

The SBP reserves reached to record high at $20.145 billion by August 27, 2021. The official reserves also fell by $9.836 billion after reaching record high. The official reserves of the SBP have been reduced to provide import payment cover for only 1.56 months.

READ MORE: Rupee hits all-time low at Rs188.66 to dollar

The import bill of the country surged by 46.41 per cent to $65.49 billion during the first 10 months of the current fiscal year as compared with $44.73 billion in the corresponding months of the last fiscal year.

Pakistan is net importer of petroleum products to meet its domestic demand. The country’s oil bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of country.

READ MORE: Dollar ends Rs187.53 at interbank market close

KARACHI: The US dollar reached to all time high at Rs193 during midday trading at interbank foreign exchange market on Friday.

The rupee lost Rs1.23 to the dollar and being traded at Rs193 from previous day’s closing of Rs191.77 in the interbank foreign exchange market.

Currency experts said that falling foreign exchange reserves and high import payments had escalated dollar demand.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

The rupee continued its free fall for the seventh consecutive day yesterday.

Pakistan is net importer of petroleum products to meet its domestic demand. The country’s import bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of country.

READ MORE: Rupee hits all-time low at Rs188.66 to dollar

The depleting foreign exchange reserves are also putting pressure on the local currency.

Pakistan total import bills recorded an increase of 49 per cent to $58.87 billion during the first nine months of the current fiscal year as compared with $39.49 billion in the corresponding period of the last fiscal year.

READ MORE: Dollar ends Rs187.53 at interbank market close

This resulted in huge widening in trade deficit of 70 per cent. The trade deficit of the country swelled to $35.39 billion during first nine months of the current fiscal year as compared with the deficit of $20.8 billion in the corresponding months of the last fiscal year.

READ MORE: Rupee fall continues; dollar hits new high at Rs191.77

KARACHI: The free-fall in Pakistan Rupee (PKR) continued on Thursday as the US dollar advanced to make a new high at Rs191.77 at close of interbank foreign exchange market.

The exchange rate witnessed a decline of Rs1.75 in Pak Rupee (PKR) to end at Rs191.77 from previous close of Rs190.02 in the interbank foreign exchange market.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

Currency experts said that falling foreign exchange reserves and high import payments were the main reasons behind rupee fall.

The rupee continued its free fall for the seventh consecutive day.

Pakistan is net importer of petroleum products to meet its domestic demand. The country’s import bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of country.

READ MORE: Rupee hits all-time low at Rs188.66 to dollar

The depleting foreign exchange reserves are also putting pressure on the local currency.

According to details released by the State Bank of Pakistan (SBP), the official reserves of the central bank fell by $328 million to $10.558 billion by the week ended April 23, 2022 as compared with $10.886 billion a week ago. The net foreign exchange reserves of the SBP also include $3 billion from Saudi Arabia, which was deposited with the central bank to support balance of payment.

The foreign exchange reserves of the country fell to $16.668 billion by week ended April 23, 2022 as compared with $17.045 billion by week ended April 16, 2022.

READ MORE: Dollar ends Rs187.53 at interbank market close

Pakistan total import bills recorded an increase of 49 per cent to $58.87 billion during the first nine months of the current fiscal year as compared with $39.49 billion in the corresponding period of the last fiscal year.

This resulted in huge widening in trade deficit of 70 per cent. The trade deficit of the country swelled to $35.39 billion during first nine months of the current fiscal year as compared with the deficit of $20.8 billion in the corresponding months of the last fiscal year.

READ MORE: Rupee falls Rs187.50 to dollar at market open

KARACHI: The Pakistan Rupee (PKR) crashed to new record low at Rs191.50 to the dollar in midday trading of interbank foreign exchange market on Thursday.

The exchange rate witnessed a decline of Rs1.48 and is trading at Rs191.50 to the dollar from previous day’s closing of Rs190.02 in the interbank foreign exchange market.

Currency experts said that balance of payment crisis were impacting the rupee value. They said that high import payment and scheduled repayment of foreign debt had increased dollar demand.

READ MORE: Rupee crashes to record low at Rs190.02 against dollar

The rupee has fallen sharply during first three days of the current week.

Pakistan is net importer of petroleum products to meet its domestic demand. The country’s import bill was $14.81 billion during the first nine months (July – March) 2021/2022 as compared with $7.55 billion in the corresponding period of the last fiscal year, showing a massive growth of 96 per cent. The oil bill is around 25 per cent of the total import bill of country.

READ MORE: Rupee hits all-time low at Rs188.66 to dollar

The depleting foreign exchange reserves are also putting pressure on the local currency.

According to details released by the State Bank of Pakistan (SBP), the official reserves of the central bank fell by $328 million to $10.558 billion by the week ended April 23, 2022 as compared with $10.886 billion a week ago. The net foreign exchange reserves of the SBP also include $3 billion from Saudi Arabia, which was deposited with the central bank to support balance of payment.

The foreign exchange reserves of the country fell to $16.668 billion by week ended April 23, 2022 as compared with $17.045 billion by week ended April 16, 2022.

READ MORE: Dollar ends Rs187.53 at interbank market close

Pakistan total import bills recorded an increase of 49 per cent to $58.87 billion during the first nine months of the current fiscal year as compared with $39.49 billion in the corresponding period of the last fiscal year.

This resulted in huge widening in trade deficit of 70 per cent. The trade deficit of the country swelled to $35.39 billion during first nine months of the current fiscal year as compared with the deficit of $20.8 billion in the corresponding months of the last fiscal year.

READ MORE: Rupee falls Rs187.50 to dollar at market open