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Markets

THE RUPEE: Small gains

KARACHI: After market closure on Friday, Pakistan Rupee slightly gained value against USD
Published March 6, 2021

KARACHI: After market closure on Friday, Pakistan Rupee slightly gained value against USD in both interbank and open markets despite greenback gaining ground in world currency markets resulting from higher treasury yields. PKR also went up against Euro in Pakistani open market by one rupee.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee gained 2 paisas for both buying and selling against USD over yesterday’s rates closing at 157.08 and 157.18 respectively.

OPEN MARKET RATES: In the open market, PKR gained 5 paisas for buying and 10 paisas for selling against USD over yesterday’s rates closing at 157.20 and 157.40 respectively.

Against Euro, PKR gained one rupee for both buying and selling closing at 187.50 and 189 respectively.

Against UAE Dirham, PKR remained unchanged for buying while gaining 5 paisas for selling closing at 42.75 and 42.90 respectively.

Against Saudi Riyal, PKR gained 10 paisas for buying and 5 paisas for selling closing at 41.60 and 41.80 respectively.

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Open Bid       Rs 157.20
Open Offer     Rs 157.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday

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Bid Rate       Rs 157.08
Offer Rate     Rs 157.18
========================

RUPEE IN LAHORE: The Pak rupee staged recovery and improved against the major currencies including the greenback and pound sterling in the local currency market on Friday.

According to the currency dealers, the dollar resumed trading on a depressed note and remained under selling pressure. At close of trading the dollar ended lower at Rs 157.10 and Rs 158.40 on buying and selling side against the day earlier closing of Rs 157.30 and Rs 158.70, respectively.

Similarly, the rupee remained strong and appreciated its worth against the British pound which was traded at Rs 217.20 and Rs 219.00 on buying and selling counter as compared to Thursday closing of Rs 218.50 and Rs 220.50, respectively.

RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 20 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened Rs 157.70(buying) and Rs 157.80(selling) against last rate of Rs 157.90(buying) and Rs 158 (selling).

It closed at Rs 157.70(buying) and Rs 157.80(selling).

The buying and selling rates of one tola of gold was Rs. 102,100 (selling) and Rs102,000(buying) at the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2021

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