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KARACHI: On Tuesday, PKR continued to fall against USD in both interbank and open markets albeit at a decreased rate than yesterday. This was opposite to trend in global currency markets where USD hovered near multi-month lows as Treasury yields stalled amid expectations that United States will not raise interest rates in near future. PKR also went down against Euro, AED and SR in Pakistan open market.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 10 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 lost 20 paisas for both buying and selling against USD over yesterday’s rates closing at 152.90 and 153.40 respectively.

Against Euro, PKR lost 50 paisas for both buying and selling closing at 184.50 and 186 respectively.

Against UAE Dirham, PKR lost 10 paisas for buying and 5 paisas for selling closing at 41.35 and 41.65 respectively.

Against Saudi Riyal, PKR lost 10 paisas for buying and 5 paisas for selling closing at 40.45 and 40.70 respectively.

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Open Bid       Rs 152.90
Open Offer     Rs 153.40
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.

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

RUPEE IN LAHORE: The Pak rupee failed to sustain its day earlier recoveries versus the American dollar in the local currency market on Tuesday.

Following fresh buyers’ interest in the market, the US dollar commenced trading on a healthy note and kept on rising throughout the trading session. As a result, the dollar closed higher for buying and selling at Rs 153.00 and Rs 154.20 against the overnight closing rate of Rs 152.70 and Rs 153.80 respectively, local currency dealers said.

Similarly, the rupee continued declining trend for the second consecutive day against the pound sterling. Consequently, the pound’s buying and selling rates significantly rose from Monday’s closing of Rs 214.30 and Rs 216.00 to Rs 215.80 and Rs 217.50 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 Tuesday.

The dollar opened at Rs153.90(buying) and Rs 154(selling) against last rate of Rs153.80(buying) and Rs 153.90(selling).

It closed at Rs153.90(buying) and Rs 154(selling).

The buying and selling rates of one tola of gold remained Rs. 99,700 (selling) and Rs 99,500(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

Copyright Business Recorder, 2021

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