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KARACHI: On Wednesday, PKR continued on its downward slide against USD in both interbank and open markets. It however remained unchanged against Euro in open market. USD remained near its three week low against other majors at the time of writing of this report in global markets as investors awaited US jobs report due on Friday for clues regarding Fed stimulus policy.

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 166.80 and 166.90 respectively.

OPEN MARKET RATES: In the open market, PKR lost 1.10 rupees for buying and 60 paisas for selling over yesterday’s rates closing at 167.40 and 167.80 respectively.

Against Euro, PKR remained unchanged for both buying and selling closing at 195.50 and 197 respectively.

Against UAE Dirham, PKR lost 20 paisas for both buying and selling closing at 45.50 and 45.80 respectively.

Against Saudi Riyal, PKR lost 10 paisas for buying and 20 paisas for selling closing at 44.35 and 44.60 respectively.

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Open Bid       Rs 167.40
Open Offer     Rs 167.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.

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Bid Rate       Rs 166.80
Offer Rate     Rs 166.90
========================

RUPEE IN LAHORE: The Pak rupee witnessed a historic decline versus major currencies including the greenback and the British pound in the local currency market on Wednesday.

The short supply phenomenon of the greenback prevailed for the third consecutive day in the market which helped it to close at all-time high for buying and selling at Rs 167.10 and Rs 168.20 against the overnight closing rates of Rs 166.50 and Rs 167.40, respectively, local currency dealers said.

Also, the rupee remained under selling pressure throughout the trading session and closed at all-time low for buying and selling at Rs 228.50 and Rs 230.00 against Tuesday’s closing trend of Rs 228.00 and Rs 229.60, respectively, they added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained Rs 1 against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs168(buying) and Rs 168.10(selling) against the last rate of Rs166.90(buying) and Rs 167(selling).

It closed at Rs168(buying) and Rs 168.10(selling).

The buying and selling rates of one tola of gold remained Rs. 109,700 (buying) and Rs109,500(selling).

Copyright Business Recorder, 2021

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