KARACHI: After touching 169 the day before, PKR remained unchanged against USD in both interbank and open markets. It however crossed 200 mark and went well below it against Euro in open market. PKR has nearly lost 10 percent of its value since May 2021. The State Bank of Pakistan Monetary Policy Committee is scheduled to meet on Monday, September 20, 2021 where it will decide policy for next two months. In global markets, dollar lost some of its luster after softer than expected US inflation figures lowered expectations of US Federal Reserve tapering economic stimulus. Its however was able to recover some value as a soft haven at the time of writing of this report as stocks slid on Wall Street.
INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee remained unchanged for both buying and selling against USD over yesterday’s rates closing at 168.90 and 169 respectively.
OPEN MARKET RATES: In the open market, PKR remained unchanged as well for both buying and selling over yesterday’s rates closing at 169.30 and 169.60 respectively.
Against Euro, PKR lost one rupee for buying and 1.50 rupees for selling closing at 199.50 and 201.50 respectively.
Against UAE Dirham, PKR lost 10 paisas for buying and 15 paisas for selling closing at 46.50 and 46.75 respectively.
Against Saudi Riyal, PKR remained unchanged for both buying and selling closing at 45 and 45.20 respectively.
======================== Open Bid Rs 169.30 Open Offer Rs 169.60 ========================
Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday.
======================== Bid Rate Rs 168.90 Offer Rate Rs 169.00 ========================
RUPEE IN LAHORE: The Pak rupee continued its downtrend for the third straight day, losing further 70 paisas against the greenback and closed at all-time low mark at Rs 170.70 in the open currency market on Wednesday.
According to the local currency dealers, the short supply phenomenon of the greenback continued to prevail in the market for another day which helped its further appreciation for buying and selling at Rs 169.60 and Rs 170.70 against the previous day closing trend of Rs 169.50 and Rs 170.00, respectively.
Moreover, the rupee showed strength and recovered its day earlier loses versus the pound sterling. Consequently, the pound’s buying and selling rates declined from Tuesday’s closing of Rs 233.50 and Rs 235.00 to Rs 232.50 and Rs 234.50, respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The value of dollar against the rupee crossed Rs 170 at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 170(buying) and Rs 170.10(selling) against the last rate of Rs169.80(buying) and Rs 169.90(selling).
It closed at Rs 170(buying) and Rs 170.10(selling) .
The buying and selling rates of one tola of gold remained Rs. 109,700 (buying) and Rs109,500(selling).
Copyright Business Recorder, 2021