Over a rupee fall

KARACHI: PKR experienced a net fall of more than one rupee over the week against USD in both interbank and open markets. Over the course of five days, PKR went down for first four days but recovered some value on last day of the week.

In global currency markets, USD generally remained steady over the week as investors awaited on minutes of Federal Reserve June policy meeting to gain clarification regarding Fed's monetary policy direction. PKR also went down against Euro, AED and SR over the week.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee overall lost 1.25 rupees for both buying and selling against USD over the week closing at 159.10 and 159.20 respectively.

OPEN MARKET RATES: In the open market, PKR overall lost 1.30 rupees for both buying and selling over the week closing at 159.60 and 160.10 respectively.

Against Euro, PKR experienced net loss of 50 paisas for both buying and selling closing at 186 and 187.50 respectively. Against UAE Dirham, PKR experienced net loss of 25 paisas for buying and 20 paisas for selling closing at 43 and 43.15 respectively.

Against Saudi Riyal, PKR overall lost 25 paisas for buying and 20 paisas for selling closing at 42 and 42.15 respectively.

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THE RUPEE
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Weekly Interbank market rates for dollar.
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BID CLOSE                       Rs 159.10
OFFER CLOSE                     Rs 159.20
BID OPEN                        Rs 157.85
OFFER OPEN                      Rs 157.95
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Weekly Open market rates for dollar.
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BID CLOSE                       Rs 159.60
OFFER CLOSE                     Rs 160.10
BID OPEN                        Rs 158.30
OFFER OPEN                      Rs 158.80
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