KARACHI: On Thursday, PKR continued to go down against USD in both interbank and open markets with no spread between buying and selling in interbank market. It also fell down by one and a half rupee against Euro in open market. Analysts have pointed out rising imports and import commodity prices as main factors jacking up demand for Euro, USD and other majors thus driving PKR downwards. In global markets, Euro was holding near one month high against the dollar at the time of writing of this report as a consequence to hawkish comments made by ECB policymakers after data showed inflation at decade high levels.
INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 20 paisas for buying and 10 paisas for selling against USD over yesterday's rates closing at 167 and 167 respectively.
OPEN MARKET RATES: In the open market, PKR lost 20 paisas for buying and 10 paisas for selling over yesterday's rates closing at 167.60 and 167.90 respectively.
Against Euro, PKR lost 1.50 rupees for both buying and selling closing at 197 and 198.50 respectively.
Against UAE Dirham, PKR lost 10 paisas for both buying and selling closing at 45.60 and 45.90 respectively.
Against Saudi Riyal, PKR remained unchanged for buying while gaining 5 paisas for selling closing at 44.35 and 44.55 respectively.
======================== Open Bid Rs 167.60 Open Offer Rs 167.90 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
======================== Bid Rate Rs 167.00 Offer Rate Rs 167.00 ========================
RUPEE IN LAHORE: The Pak rupee reached all-time low and remained under selling pressure for the fourth consecutive day against the greenback in the local currency market on Thursday.
According to the local currency dealers, the short supply phenomenon of the greenback prevailed for another day in the market which helped its appreciation at all-time high for buying and selling at Rs 167.50 and Rs 168.50 against the overnight closing trend of Rs 167.10 and Rs 168.20, respectively.
Similarly, the rupee also remained under selling pressure for the second consecutive day against the pound sterling. Consequently, the pound too closed at all-time high for buying and selling at 229.10 and Rs 231.00 against Wednesday's closing rates of Rs 228.50 and Rs 230.00, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 50 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Thursday.
The dollar opened at Rs168.50(buying) and Rs 168.60(selling) against last rate of Rs168(buying) and Rs 168.10(selling).
It closed at Rs168.50(buying) and Rs 168.60(selling).
The buying and selling rates of one tola of gold remained Rs. 109,700 (buying) and Rs109,500(selling).
Copyright Business Recorder, 2021