Pakistan rupee sinks below 100 mark against dollar

 Rupee Exchange Rates  No Responses »
Feb 122013
 

KARACHI: The Pakistani rupee on Monday sank to an all-time low against the US dollar over forex reserve fears as the country repaid $146 million to the International Monetary Fund.

The rupee fell to 100.1 to the greenback in trading in Karachi, down from 99.30 on the open market Friday, and has now lost 39 percent of its value against the US currency since March 2008.

“We have traded the dollar at Rs 100.1, although there is a slight difference on the open market,” said currency dealer Mohammad Arshad.

The official inter-bank rate for the dollar is Rs 98, but Mohammad Sohail, who heads brokerage firm Topline Securities, confirmed it had crossed 100 on the open market.

Pakistan had a $10.7 billion IMF loan until September, but had drawn only about a third of it. The government has indicated it would not seek a new loan. Continue reading »

Historical chart of Pakistan rupee exchange rate vs. US dollar

 Rupee Exchange Rates  42 Responses »
May 022009
 

Following is the chart of rupee exchange rates against US dollar. It is interesting to see that between 2001 and 2007, the exchange rate remained almost the same but with the start of rise in oil prices and lawyers movement in Pakistan, the rupee totally collapsed.

Continue reading »

Pakistan Rupee seen entering bumpy phase

 Rupee Exchange Rates  Comments Off
Feb 022009
 

By Shahid Iqbal

 

KARACHI: The currency market sees a depressing period ahead for the rupee as the buying spree of dollars is expected to begin with the end of State Bank’s deadline for payment of furnace oil import.
 The market has yet not witnessed any bulk buying of dollars by the private sector despite the State Bank’s deadline for import of furnace oil payment approaching closer, but it could start from the second week of February. Continue reading »

Pakistan rupee loses strength against dollar: gold rates 20-Jan-09

 Rupee Exchange Rates  Comments Off
Jan 202009
 

KARACHI: The national currency lost heavily against the dollar in the inter-bank market, dealers said on Monday.

The American currency commenced the day’s trading at Rs 79.30 for buying, witnessed a massive gain and closed at Rs 79.60 for buying and Rs 79.65 for selling. Thus, the local currency recorded a loss of 30 paisas. Continue reading »

Rupee regains strength vs dollar-22nd December 2008

 Rupee Exchange Rates  Comments Off
Dec 232008
 

KARACHI: The national currency recovered some of its strength against the American currency in the inter-bank market, dealers said on Monday.

The rupee gained 10 paisas against the dollar during the day’s trading. The greenback commenced the week’s trading at Rs 78.75 for buying, appreciated and was changing hands at Rs 78.95 for buying and Rs 79.00 for selling at the end of the day’s trading. Continue reading »

Pakistan rupee inches up against dollar

 Rupee Exchange Rates  Comments Off
Dec 012008
 

Local currency market displayed mixed sentiments amid dull trading this week. The rupee stood firm versus the dollar and euro. Dollar supply improved significantly amid low demand. The inflow of $3.1 billion under the IMF $7.6 billion loan has released pressure on the rupee to some extent. The rupee this week resisted major decline versus the euro and dollar in the inter-bank as well as open market.
Continue reading »