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Tag: US Dollar

  • Dollar appreciates 42 paisas against PKR

    Dollar appreciates 42 paisas against PKR

    KARACHI: Dollar made gain of 42 paisas against the Pakistan Rupee (PKR) on Thursday ending three days recovery streak of the local currency.

    The exchange rate ended at Rs185.87 to the dollar from previous day’s closing of Rs185.45 in the interbank foreign exchange market.

    READ MORE: Rupee recovers third straight day against dollar

    Currency dealers said that the local currency was under pressure due to upcoming holidays of Eid ul Fitr and importers placing advance demand for foreign payments.

    The rupee during the outgoing week made recovery owing to resumption of talks with the IMF.

    The appreciation in rupee value to recent talks of Pakistan’s new finance minister with the management of the IMF regarding initiation of stalled loan program.

    READ MORE: Rupee recovers 43 paisas to dollar in interbank

    Further, both the sides also agreed to remove unnecessary subsidy to ease burden on the government to spare funds for development projects.

    The exchange rate is remained volatile during past one month due to uncertain political situation and massive decline in foreign exchange reserves.

    The recent measures of the State Bank of Pakistan (SBP), including raising the key policy rate by 2.5 per cent, have failed to support the local currency.

    READ MORE: Rupee gains 70 paisas to dollar on IMF talks

    Previously, the rupee made significant recovery for seven consecutive trading sessions after the central bank announced a sharp increase in key policy rate.

    The SBP on April 07, 2022 announced 2.5 per cent increase in interest rate to enhance the key policy rate to 12.25 per cent from 9.75 per cent. The rupee was at all-time low PKR 188.18 to the dollar on the day of monetary policy announcement.

    READ MORE: Dollar rebounds to PKR 186.75 in interbank

  • Pakistani Rupee to US Dollar on April 28, 2022

    Pakistani Rupee to US Dollar on April 28, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on April 28, 2022:

    Buying: Rs 185.50 to the US Dollar

    Selling: Rs 186.50 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 12:20 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.

    Pakistani Rupee to US Dollar on April 27, 2022
  • Rupee recovers third straight day against dollar

    Rupee recovers third straight day against dollar

    KARACHI: Pakistan Rupee (PKR) has maintained recovery against the US dollar for third straight day on Wednesday following the positive outcome talks with the IMF.

    The rupee recovered 17 paisas to end at Rs185.45 to the dollar from previous day’s closing of Rs185.62 in the interbank foreign exchange market.

    READ MORE: Rupee recovers 43 paisas to dollar in interbank

    It was straight third day the rupee made recovery against the greenback. The local unit recovered Rs1.30 against the foreign currency during these days.

    Currency analysts attributed the appreciation in rupee value to recent talks of Pakistan’s new finance minister with the management of the IMF regarding initiation of stalled loan program.

    READ MORE: Rupee gains 70 paisas to dollar on IMF talks

    Further, both the sides also agreed to remove unnecessary subsidy to ease burden on the government to spare funds for development projects.

    The exchange rate is remained volatile during past one month due to uncertain political situation and massive decline in foreign exchange reserves.

    READ MORE: Dollar rebounds to PKR 186.75 in interbank

    The recent measures of the State Bank of Pakistan (SBP), including raising the key policy rate by 2.5 per cent, have failed to support the local currency.

    Previously, the rupee made significant recovery for seven consecutive trading sessions after the central bank announced a sharp increase in key policy rate.

    READ MORE: Rupee ends 4-day losing streak against dollar

    The SBP on April 07, 2022 announced 2.5 per cent increase in interest rate to enhance the key policy rate to 12.25 per cent from 9.75 per cent. The rupee was at all-time low PKR 188.18 to the dollar on the day of monetary policy announcement.

  • Pakistani Rupee to US Dollar on April 27, 2022

    Pakistani Rupee to US Dollar on April 27, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on April 27, 2022:

    Buying: Rs 186.00 to the US Dollar

    Selling: Rs 187.25 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 10:20 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.

    Pakistani Rupee to US Dollar on April 26, 2022
  • Rupee recovers 43 paisas to dollar in interbank

    Rupee recovers 43 paisas to dollar in interbank

    KARACHI: The Pakistan Rupee (PKR) recovered another 43 paisas against the US dollar on Tuesday owing to expected inflows of funds from various avenues.

    The rupee ended Rs185.62 to the dollar from previous day’s closing of Rs186.05 in the interbank foreign exchange market.

    READ MORE: Rupee gains 70 paisas to dollar on IMF talks

    It was straight second day the rupee made recovery against the greenback. The local unit recovered 70 paisas against the foreign currency a day earlier.

    Currency analysts attributed the appreciation in rupee value to recent talks of Pakistan’s new finance minister with the management of the IMF regarding initiation of stalled loan program.

    READ MORE: Dollar rebounds to PKR 186.75 in interbank

    Further, both the sides also agreed to remove unnecessary subsidy to ease burden on the government to spare funds for development projects.

    The exchange rate is remained volatile during past one month due to uncertain political situation and massive decline in foreign exchange reserves.

    READ MORE: Rupee ends 4-day losing streak against dollar

    The recent measures of the State Bank of Pakistan (SBP), including raising the key policy rate by 2.5 per cent, have failed to support the local currency.

    Previously, the rupee made significant recovery for seven consecutive trading sessions after the central bank announced a sharp increase in key policy rate.

    The SBP on April 07, 2022 announced 2.5 per cent increase in interest rate to enhance the key policy rate to 12.25 per cent from 9.75 per cent. The rupee was at all-time low PKR 188.18 to the dollar on the day of monetary policy announcement.

    READ MORE: Dollar ends near PKR 187 in interbank market

  • Pakistani Rupee to US Dollar on April 26, 2022

    Pakistani Rupee to US Dollar on April 26, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on April 26, 2022:

    Buying: Rs 185.25 to the US Dollar

    Selling: Rs 187.00 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 11:15 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.

    Pakistani Rupee to US Dollar on April 25, 2022
  • Pakistani Rupee to US Dollar on April 25, 2022

    Pakistani Rupee to US Dollar on April 25, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on April 25, 2022:

    Buying: Rs 186.90 to the US Dollar

    Selling: Rs 188.50 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 10:35 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.

    Pakistani Rupee to US Dollar on April 24, 2022
  • Pakistani Rupee to US Dollar on April 24, 2022

    Pakistani Rupee to US Dollar on April 24, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on April 24, 2022:

    Buying: Rs 186.90 to the US Dollar

    Selling: Rs 188.50 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 12:10 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.

    Pakistani Rupee to US Dollar on April 22, 2022
  • Dollar rebounds to PKR 186.75 in interbank

    Dollar rebounds to PKR 186.75 in interbank

    KARACHI: The US dollar rebounded against the Pakistan Rupee (PKR) on Saturday to reach 186.75 in the interbank foreign exchange market.

    The local unit lost five paisas against the dollar to end at Rs186.75 from previous day’s closing of Rs186.70 in the interbank foreign exchange market.

    READ MORE: Rupee ends 4-day losing streak against dollar

    Currency analysts said that advance dollar buying was seen due to weekly holiday next day.

    The analysts said that exchange rate was under immense pressure due to falling foreign exchange reserves and mounting dollar demand for import payments.

    Although the State Bank of Pakistan (SBP) recently took measures through enhancing policy rate aggressively but all in vain.

    READ MORE: Dollar ends near PKR 187 in interbank market

    The recent measures of the State Bank of Pakistan (SBP), including raising the key policy rate by 2.5 per cent, have failed to support the local currency.

    Previously, the rupee made significant recovery for seven consecutive trading sessions after the central bank announced a sharp increase in key policy rate.

    The SBP on April 07, 2022 announced 2.5 per cent increase in interest rate to enhance the key policy rate to 12.25 per cent from 9.75 per cent. The rupee was at all-time low PKR 188.18 to the dollar on the day of monetary policy announcement.

    READ MORE: Rupee falls Rs4.37 to dollar in fresh wave

    However, following the announcement the rupee rallied for seven straight days and recovered PKR 6.63 against the dollar.

    The appreciation in dollar value may be attributed to the further depletion in foreign exchange reserves of the county.

    Pakistan’s foreign exchange reserves hit a 22-month low after falling for nine consecutive weeks to $17.03 billion.

    However, Pakistan’s foreign exchange reserves inched up by $17 million to $17.045 billion by week ended April 16, 2022. The foreign exchange reserves of the country were at $17.028 billion a week ago.

    READ MORE: Dollar climbs up to Rs184.44 at interbank closing

    The official foreign exchange reserves of the State Bank also improved by $36 million to $10.886 billion by the week ended April 16, 2022 as compared with $10.85 billion a week ago.

    The foreign exchange held by commercial banks, however, fell by $19 to $6.157 billion by week ended April 16, 2022 as compared with $6.178 billion a week ago.

    Pakistan’s foreign exchange reserves have declined by around $10 billion in the past seven months owing to extreme pressure of dollar demand for import payments and external repayment of government debt.

    The country’s foreign exchange reserves hit an all-time high of $27.228 billion on August 27, 2021.

  • Rupee ends 4-day losing streak against dollar

    Rupee ends 4-day losing streak against dollar

    KARACHI: The Pak Rupee (PKR) ended four-day losing streak against the dollar on Friday and recovered 27 paisas in the interbank foreign exchange market.

    The rupee ended Rs186.70 to the dollar from the previous day’s closing of Rs186.97 in the interbank foreign exchange market.

    READ MORE: Dollar ends near PKR 187 in interbank market

    Currency analysts said that inflows of remittances related to Eid festival helped the rupee to make recovery against the dollar.

    Further, foreign exchange reserves after many weeks showed a slight increase has also helped the rupee to make gains.

    READ MORE: Rupee falls Rs4.37 to dollar in fresh wave

    The rupee witnessed a continuous decline against the dollar during April 18 to April 21. The depreciation in local currency may be attributed to a significant fall in foreign exchange reserves.

    READ MORE: Dollar climbs up to Rs184.44 at interbank closing