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KARACHI: On Thursday, PKR went down losing part of the value regained on Wednesday against major currencies. It went below 168 against USD and reached 199 against Euro in open market. In global markets, both Euro and USD were going strong at the time of writing of this report as concerns about global economy moved traders to safer currencies.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 45 paisas for buying and 55 paisas for selling against USD over yesterday’s rates closing at 167.60 and 167.80 respectively.

OPEN MARKET RATES: In the open market, PKR lost 40 paisas for buying and 30 paisas for selling over yesterday’s rates closing at 168.20 and 168.50 respectively.

Against Euro, PKR lost 50 paisas for both buying and selling closing at 197.50 and 199 respectively.

Against UAE Dirham, PKR lost 20 paisas for buying and 10 paisas for selling closing at 46.10 and 46.30 respectively.

Against Saudi Riyal, PKR lost 20 paisas for both buying and selling closing at 44.50 and 44.80 respectively.

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Open Bid       Rs 168.20
Open Offer     Rs 168.50
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.

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Bid Rate       Rs 167.60
Offer Rate     Rs 167.80
========================

RUPEE IN LAHORE: The Pak rupee failed to sustain its day earlier recoveries as it depreciated its worth against the greenback in the open currency market on Thursday.

The short supply phenomenon of the greenback prevailed throughout the trading session which helped its appreciation for buying and selling at Rs 168.35 and Rs 169.00 against the overnight closing rate of Rs 167.60 and Rs 168.80, respectively, local currency dealers said.

“As per the market information, the rupee is likely to climb up to Rs 170 in the next week’s trading session due to rising import payments and people (investors) who have Rs 40,000 denominated prize bonds are surrendering their bonds and heavily buying the US dollars from the kerb market because they would no longer be able to encash or redeem their bonds after September 30,” Uzair Ahmed, a local currency dealer said.

Besides, the rupee witnessed volatile trend as it moved both ways in relation to the pound sterling. At the close, the British currency was bought and sold at Rs 230.50 and Rs 231.80 against Wednesday’s closing trend of Rs 229.50 and Rs 232.00, respectively, the dealers added.

RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained 40 paisas against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.

The dollar opened at Rs169(buying) and Rs 169.10(selling) against last rate of Rs168.60(buying) and Rs 168.70(selling).

It closed at Rs169(buying) and Rs 169.10(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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