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KARACHI: PKR ended the first day of the week with somewhat of a mixed movement. It remained unchanged against USD in interbank market while continuing to go down in open market hitting 169. However it went up against Euro in open market. In global markets, dollar was staying firm at the time of writing of this report. US inflation data due on Tuesday was the main focus for FX traders but there was little hope of US Federal Reserve exiting its COVID-19 economic supportive policy. In essence USD was still going strong on the back of safe haven sentiments carrying on from last Friday and rising US Treasury yields.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee remained unchanged for both buying and selling against USD over last week’s rates closing at 168 and 168.10 respectively.

OPEN MARKET RATES: In the open market, PKR lost 30 paisas for both buying and selling over last week’s rates closing at 168.70 and 169 respectively.

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

Against UAE Dirham, PKR lost 25 paisas for both buying and selling closing at 46.25 and 46.45 respectively.

Against Saudi Riyal, PKR lost 30 paisas for buying and 25 paisas for selling closing at 44.80 and 45 respectively.

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Open Bid       Rs 168.70
Open Offer     Rs 169.00
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Monday.

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Bid Rate       Rs 168.00
Offer Rate     Rs 168.10
========================

RUPEE IN LAHORE: The Pak rupee depreciated its worth versus major currencies including the American dollar and the British pound in the open currency market on Monday.

The US dollar opened on a positive note and kept on rising following fresh buyers’ interest on the first day of the trading session. Consequently, the dollar once again closed at all-time high for buying and selling at Rs 168.80 and Rs 169.80 against the previous closing rate of Rs 168.50 and Rs 169.50, respectively, local currency dealers said.

Versus the pound sterling, the national currency also followed suit breaking all previous records and traded at all-time high for buying and selling at Rs 232.50 and Rs 234.00 against Friday’s closing trend of Rs 232.00 and Rs 233.90, respectively, they added.

Copyright Business Recorder, 2021

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