Pakistan rupee appreciation continues 27-28 May 2019


A surge in supply and falling demand pushed dollar in the open market to 149.50 which is 50 paisa less compared to Friday. In the interbank market, the dollar traded at Rs149.60 as compared to Rs-150.90 in the last session on Friday, a decline of Rs-1.30.

Main reasons for this appreciation are;

Inflow of remittances from overseas Pakistanis ahead of ‘Eid

Shrinking demand locally as the State Bank has tightened rules and regulations for opening letters of credit for imports.

Rupee value appreciated four rupees against dollar during last week and it is likely that dollar value will go down another three to four rupees in coming weeks.

Following are closing exchange rates on 27th May 2019;

CURRENCY LOW RATE HIGH RATE
US$ (Interbank) 149.30 149.60
US$ (Open Market) 148.50 149.50
Saudi Riyal 39.00 39.70
UAE Dirham 40.00 40.70
EURO 164.00 167.80
UK Pound 186.50 190.00
Japanese Yen 1.32852 1.34852
Australian Dollar 101.00 103.50
Canadian Dollar 108.50 111.00
Hong Kong Dollar 18.51 19.01
Kuwaiti Dinar 479.99 4480.09
Omani Riyal 379.10 379.20
Bahraini Dinar 386.06 386.56
Indian Rupee 1.98 2.10
Iraqi Dinar 0.100 0.140
Malaysian Ringit 35.50 37.00
Iranian Riyal 0.0010 0.0015
Afghan Rupee 1.55 1.85
Chinese Yuan 21.30 22.80
     
     

Exchange rates 28th May 2019

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