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KARACHI: PKR broke its slide on Thursday by going up against major currencies. It went up by almost 0.5 percent against USD in interbank and open markets and by one percent against Euro in open market. Some monetary analysts have suggested that this could be the result of market's reaction in anticipation of SBP Monetary Policy Committee meeting due next week on 20th September 2021. In global markets, dollar index was almost unchanged at the time of writing of this report as investors looked to Federal Reserve policy meeting due next week for direction as well.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee gained 80 paisas for both buying and selling against USD over yesterday's rates closing at 168.10 and 168.20 respectively.

OPEN MARKET RATES: In the open market, PKR gained 80 paisas for both buying and selling over yesterday's rates as well closing at 168.50 and 168.80 respectively.

Against Euro, PKR went up by 2 rupees for buying and 2.50 rupees for selling closing at 197.50 and 199 respectively.

Against UAE Dirham, PKR gained 40 paisas for buying and 35 paisas for selling closing at 46.10 and 46.40 respectively.

Against Saudi Riyal, PKR gained 60 paisas for buying and 50 paisas for selling closing at 44.40 and 44.70 respectively.

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Open Bid       Rs 168.50
Open Offer     Rs 168.80
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.

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Bid Rate       Rs 168.10
Offer Rate     Rs 168.20
========================

RUPEE IN LAHORE: The Pak rupee showed strength and recovered its day earlier losses versus major currencies including the greenback and the British pound in the open currency market on Thursday.

The greenback commenced trading on a negative note and kept on declining throughout the trading session amidst lack of buying spree in the market. As a result, the greenback closed for buying and selling at Rs 168.40 and Rs 169.50 against the overnight closing rate of Rs 169.60 and Rs 170.70, respectively, local currency dealers said.

Similarly, the national currency also followed suit in relation to the pound sterling that was bought and sold at Rs 231.30 and Rs 233.50 against Wednesday's closing trend of Rs 232.50 and Rs 234.50, 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 Thursday.

The dollar opened at Rs169.20(buying) and Rs 169.390(selling) against last rate of Rs 170(buying) and Rs 170.10(selling).

It closed at Rs169.20(buying) and Rs 169.390(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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