KARACHI: Over the week, PKR recorded net falls against USD in both interbank and open markets. It displayed all range of movements; ups, downs, mixed and unchanged throughout the week with no movement higher than 60 paisas.
Against euro in open market; just like last week, any gains were balanced by losses throughout the week resulting in a no net change at week's end. The global currency markets saw a week of strong dollar against euro and yen as strong US jobs data increased expectations of US Federal Reserve tightening the monetary earlier than expected. This also increased US bonds yield thus driving the US dollar further up. The US dollar ended the week at four month high in global currency markets.
INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee overall lost 60 paisas for both buying and selling against USD over the week closing at 164 and 164.10 respectively.
OPEN MARKET RATES: In the open market, PKR overall lost 60 paisas for both buying and selling over the week closing at 163.80 and 164.30 respectively.
Against euro, PKR remained unchanged for both buying and selling over the week closing at 191 and 192.50 respectively.
Against UAE dirham, PKR recorded net loss of 15 paisas for both buying and selling closing at 44.40 and 44.60, respectively.
Against Saudi riyal, PKR overall lost 15 paisas for both buying and selling as well closing at 43.40 and 43.60 respectively.
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THE RUPEE
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Weekly Interbank market rates for dollar
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Bid Close Rs. 164.00
Offer Close Rs. 164.10
Bid Open Rs. 163.40
Offer Open Rs. 163.50
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Weekly Open market rates for dollar
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Bid Close Rs. 163.80
Offer Close Rs. 164.30
Bid Open Rs. 163.20
Offer Open Rs. 163.70
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Copyright Business Recorder, 2021
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