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Markets Print 2021-04-24

THE RUPEE: Persistent fall

KARACHI: On Friday, PKR continued to go down against USD in both interbank
Published April 24, 2021

KARACHI: On Friday, PKR continued to go down against USD in both interbank and open markets opposite to trend in global currency markets where Dollar was trading near multi week lows against other major currencies as traders awaited next moves by major central banks ahead of US Federal Reserve meeting next week.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 50 paisas for both buying and selling against USD over yesterday’s rates closing at 153.90 and 154 respectively.

OPEN MARKET RATES: In the open market, PKR lost 40 paisas for both buying and selling over yesterday’s rates closing at 153.70 and 154.20 respectively.

Against Euro, PKR again remained unchanged on Friday for both buying and selling closing at 183 and 184.50 respectively.

Against UAE Dirham, PKR lost 20 paisas for both buying and selling closing at 41.75 and 42 respectively.

Against Saudi Riyal, PKR lost 20 paisas for both buying and selling as well closing at 40.80 and 41.05 respectively.

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Open Bid       Rs 153.70
Open Offer     Rs 154.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Friday

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Bid Rate       Rs 153.90
Offer Rate     Rs 154.00
========================

RUPEE IN LAHORE: The Pak rupee maintained declining trend for the third consecutive day against the American dollar in the local currency market on Friday.

The short supply phenomenon of the greenback prevailed for another day in the market which helped its further appreciation for buying and selling at Rs 153.70 and Rs 154.90 against the overnight closing rate of Rs 153.40 and Rs 154.70 respectively, local currency dealers said.

Furthermore, the rupee-pound sterling parity stayed unchanged amid sluggish trading activity in the market. As a result, the British currency firmly closed at its opening trend for buying and selling at Rs 212.50 and Rs 214.00 respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 50 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Friday.

The dollar opened at Rs154.50(buying) and Rs 154.60(selling) against last rate of Rs154(buying) and Rs 154.10(selling).

It closed at Rs154.50(buying) and Rs 154.60(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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