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Markets

THE RUPEE: Slight recovery

KARACHI: On Friday, PKR went up against USD in both interbank and open markets
17 Apr, 2021

KARACHI: On Friday, PKR went up against USD in both interbank and open markets. It also went up against AED and SR while going down against Euro in open market. At the time of writing of this report, USD was headed for its worst weekly drop this year. US Treasury yields dipped to one month low as investors reacted to Federal Reserve’s insistence of keeping accommodative policy a while longer.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee gained 5 paisas for both buying and selling against USD over yesterday’s rates closing at 152.70 and 152.80 respectively.

OPEN MARKET RATES: In the open market, PKR gained 20 paisas for both buying and selling over yesterday’s rates closing at 152.50 and 153 respectively. Against Euro, PKR lost 20 paisas for buying while remaining unchanged for selling closing at 181.20 and 182.50 respectively.

Against UAE Dirham, PKR gained 5 paisas for both buying and selling closing at 41.30 and 41.60 respectively.

Against Saudi Riyal, PKR gained 15 paisas for buying and 10 paisas for selling closing at 40.25 and 40.55 respectively.

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Open Bid       Rs 152.50
Open Offer     Rs 153.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday

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Bid Rate       Rs 152.70
Offer Rate     Rs 152.80
========================

RUPEE IN LAHORE: The Pak rupee appreciated its worth in the process of trading against the greenback in the local currency market on Friday.

Following lack of buying spree in the market, the greenback remained under selling pressure throughout the trading session and closed for buying and selling at Rs 152.70 and Rs 154.00 against the overnight closing rate of Rs 153.00 and Rs 154.20 respectively, local currency dealers said.

Moreover, the rupee witnessed volatile trend as it moved both ways in relation to the pound sterling. At the close, the British currency was bought and sold at Rs 209.50 and Rs 210.40 against Thursday’s closing trend of Rs 209.20 and Rs 210.50 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 10 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs153.50(buying) and Rs 153.60(selling) against last rate of Rs153.40(buying) and Rs 153.50(selling).

It closed at Rs153.50(buying) and Rs 153.60(selling).

The buying and selling rates of one tola of gold were Rs. 99,300 (selling and Rs 99,100(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2021

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