KARACHI: On Thursday, PKR went down against USD in both interbank and open markets after recording gains yesterday. This was opposite to global currency markets where USD weakened after a break in US Treasury yields as a consequence to Fed Chair Jerome Powell’s testimony saying US economy has not fully recovered and central bank will continue to provide stimulus. PKR also lost value against Euro and AED in Pakistan open market.
INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 25 paisas for both buying and selling against USD over yesterday’s rates closing at 159.30 and 159.40 respectively.
OPEN MARKET RATES: In the open market, PKR lost 10 paisas for both buying and selling over yesterday’s rates closing at 159.20 and 159.70 respectively.
Against Euro, PKR lost 50 paisas for both buying and selling closing at 186 and 187.50 respectively.
Against UAE Dirham, PKR lost 5 paisas for both buying and selling closing at 42.85 and 43.05 respectively.
Against Saudi Riyal, PKR remained unchanged for both buying and selling closing at 41.75 and 41.95 respectively.
======================== Open Bid Rs 159.20 Open Offer Rs 159.70 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
======================== Bid Rate Rs 159.30 Offer Rate Rs 159.40 ========================
RUPEE IN LAHORE: The Pak rupee failed to sustain its day earlier recoveries against the American dollar and the British pound in the local currency market on Thursday.
According to the local currency dealers, the short supply phenomenon of the US dollar prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 159.20 and Rs 160.30 against the overnight closing trend of Rs 159.10 and Rs 160.00, respectively.
Similarly, the rupee also followed suit in relation to the pound sterling that was bought and sold at Rs 218.50 and Rs 220.00 against Wednesday’s closing rate of Rs 217.50 and Rs 219.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee recovered 50 paisas against the dollar at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs159.50(buying) and Rs 159.60(selling) against the last rate of Rs160(buying) and Rs 160.10(selling).
It closed at Rs159.50(buying) and Rs 159.60(selling).
The buying and selling rates of one tola of gold remained Rs106,000 (selling) and Rs106.100 (selling).
Copyright Business Recorder, 2021