KARACHI: The Pakistani rupee traded at a record low on Wednesday hurt by import payments and a bleak economic outlook for the country.
According to the interbank rate, the rupee was trading at Rs 90 to a US dollar.
Tuesday, 20th December
The dollar recorded growth against the rupee in the interbank market, dealers said Tuesday. It initiated the day’s trading at Rs 89.8 for buying, Continue reading »
Buying pressure eroded the rupee value against the dollar to another record-low of 85.69 on Friday, dealers said.
“The market responded to the International Monetary Fund (IMF) statement of early release of tranche, but buying pressure depreciated the local currency,” said M Mustufa Jan, Head of Forex Research, KASB Securities Pvt Limited.
The rupee closed at 85.69 to a dollar in inter-bank market from the previous day’s close of 85.67.
The rupee opened in the range of Rs85.65 and 85.68. The development regarding the IMF talks with Pakistani authorities on sixth tranche of $2 billion eased the pressure on the rupee and it recovered at 85.64 to a dollar.
The payments are in queue by importers and corporate sectors that increased the demand for the dollar, which eroded the rupee to an intra-day low of 85.75.
The rupee ended the FY10 with a record high of 85.51 to a dollar. Since then, it witnessed a gradual decrease and during the first nine days of July it lost 18 paisas.
Experts said that further payments were due, which would jack up the demand for the greenback and further depreciate the value of the local currency.
However, they said that the inflows from foreign donors, home remittances and export receipts would have a positive impact on the rupee. The News
KARACHI: The rupee hits an all-time low of 85.51 against the dollar on Wednesday in the wake of payments pressure by the importers, dealers said.
In the inter-bank market, the rupee slipped by 11 paisas to close at 85.51 to a dollar from the previous day’s close of 85.40. Continue reading »
By Gohar Ali Khan
KARACHI: Gold prices climbed for the second straight day on Saturday to a new high of Rs34,114 per 10 grams after a sharp surge in the international prices, fuelled by sovereign debt worries and a weak euro, dealers said.
Continue reading »
| USA | 84.10 | 83.90 |
| UK | 128.27 | 127.96 |
| Euro | 111.19 | 110.92 |
| Canada | 82.68 | 82.49 |
| Switzerland | 77.61 | 77.43 |
| Australia | 77.75 | 77.57 |
| Sweden | 11.55 | 11.52 |
| Japan | 0.8957 | 0.8936 |
| Norway | 14.17 | 14.14 |
| Singapore | 61.27 | 61.12 |
| Denmark | 14.94 | 14.90 |
| Saudi Arabia | 22.43 | 22.37 |
| Hong Kong | 10.83 | 10.81 |
| China | 12.32 | 12.29 |
| Kuwait | 291.46 | 290.76 |
| Malaysia | 26.21 | 26.15 |
| Newzealand | 61.25 | 61.10 |
| Qatar | 23.11 | 23.06 |
| UAE | 22.90 | 22.84 |
| KR WON | 0.0754 | 0.0752 |
| Thailand | 2.599 | 2.593 |
KARACHI: The rupee crossed the Rs87 mark against the US dollar in the open market on Monday as people started hoarding the foreign currency in the wake of State Bank’s requirement to show personal ID for purchase or sale of greenback.
Continue reading »
KARACHI: The American currency recorded gains against the rupee in the interbank market, dealers said on Friday. Continue reading »
Following are rupee exchange rates against major currencies on 22nd January 2010. Continue reading »
By Shahid Iqbal
KARACHI: The rupee fell to a record low against the dollar on Monday while it already lost almost Re1 since the private sector was given sole responsibility to pay the entire oil bills. Continue reading »
17th November 2009
By Samia Saleem
KARACHI: Gold price scaled a fresh high on Tuesday to reach Rs36,150 per tola, marking an increase of Rs300 in a day.
The value of gold in the local markets is now Rs300 higher than Dubai. “This happened due to rising demand of gold in the country,” said Haji Haroon Chand, President of All Sindh Saaraf and Jewellers Association. Continue reading »
KARACHI: The rupee maintained stability versus the American currency in the interbank market, dealers said on Friday. Continue reading »
KARACHI: Pakistani rupee is likely to gain gradually against the US dollar during the rest of the year, says a foreign exchange analyst of a leading foreign bank.
Priyanka Chakravarty, an India based FX strategist at Standard Chartered Bank, says the IMF’s decision to allocate an additional $3.2bn to Pakistan, and the ensuing sovereign credit rating upgrade by Standard and Poor’s, bode well for the currency. She says the rupee is not likely to lose value despite pressure from a deteriorating trade deficit due to rising commodity prices. Continue reading »
Dollar gains strength vs rupee
The dollar gained up grounds against the rupee in the interbank market, dealers said on Monday.
The dollar commenced the day’s trading at Rs 82.04 for buying and after incurring gains was changing hands at Rs 82.12 for buying and at Rs 82.17 for selling. Therefore, the rupee incurred a loss of 08 paisas. Similarly, the euro was also up versus the rupee as it initiated the day’s trading at Rs 115.65 for buying appreciated and was changing hands at Rs 116.87 for buying and at Rs 117.07 for selling. Thus, the rupee was low by Rs 1.22 versus the euro. Continue reading »
Treasury Management Division of National Bank of Pakistan (NBP) Monday issued the following Exchange rates: Continue reading »
KARACHI: The national currency regained strength against the dollar in the interbank market, dealers said on Wednesday.
The dollar commenced the day’s trading at Rs 81.07 for buying, registered loss and was changing hands at Rs 80.91 for buying and Rs 81.11 for selling at the close of the day’s trading. Thus, the national currency incurred a gain of 16 paisas. The European single currency gained five paisas against the rupee as the euro started the day’s trading at Rs 110.34 for buying, gained grounds and was changing hands at Rs 110.39 for buying and Rs 110.59 for selling. Continue reading »