KARACHI: After market closing on first day of the week, PKR recorded relatively slight falls against USD in both interbank and open markets as compared to last week. It however went up slightly against Euro in open market while continuing to go down against AED and SR. According to economists and business community representatives, situation in Afghanistan could explain the recent slides in PKR since Afghans residing in Pakistan are remitting money to Afghanistan to their family members and so forth due to shortage of dollars and disruptions in bank operations over there. Also the daily inflow of around 5 to 7 million dollars from Afghanistan has gone down as well. This has overall upped the demand of dollar in Pakistani market. In global currency markets, USD had regained some value at the time of writing of this report after weaker than expected US jobs data on Friday. Most US markets were closed on Monday for a holiday.
INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 20 paisas for both buying and selling against USD over last week's rates closing at 167.20 and 167.30 respectively.
OPEN MARKET RATES: In the open market, PKR lost 20 paisas for both buying and selling over last week's rates closing at 167.80 and 168.10 respectively.
Against Euro, PKR gained 20 paisas for both buying and selling closing at 197.30 and 198.80 respectively.
Against UAE Dirham, PKR lost 10 paisas for buying and 20 paisas for selling closing at 45.70 and 46 respectively.
Against Saudi Riyal, PKR lost 15 paisas for both buying and selling closing at 44.50 and 44.70 respectively.
======================== Open Bid Rs 167.80 Open Offer Rs 168.10 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.
======================== Bid Rate Rs 167.20 Offer Rate Rs 167.30 ========================
RUPEE IN LAHORE: The Pak rupee marginally depreciated its worth in the process of trading against the greenback in the local currency market on Monday.
Following a slight decrease in the buyers' interest during the trading session, the greenback marginally improved its worth by 10 paisas and closed for buying and selling at Rs 167.60 and Rs 168.60 against the previous closing rates of Rs 167.50 and Rs 168.50, respectively, local currency dealers said.
On the contrary, the rupee continued breaking its all previous records against the pound sterling as it was once again traded at all-time low for buying and selling at Rs 230.30 and Rs 231.90 against Friday's closing rates of Rs 230.20 and Rs 231.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The rupee slightly recovered against the dollar at the open currency markets of Islamabad and Rawalpindi here on Monday.
The dollar opened at Rs168.30(buying) and Rs 168.40(selling) against last rate of Rs168.60(buying) and Rs 168.70(selling).
It closed at Rs168.30(buying) and Rs 168.40(selling).
The buying and selling rates of one tola of gold remained Rs. 109,700 (buying) and Rs109,500(selling).
Copyright Business Recorder, 2021