AVN 67.05 Increased By ▲ 1.85 (2.84%)
BAFL 31.05 Increased By ▲ 0.31 (1.01%)
BOP 4.88 Increased By ▲ 0.08 (1.67%)
CNERGY 3.78 Increased By ▲ 0.07 (1.89%)
DFML 14.49 Increased By ▲ 0.28 (1.97%)
DGKC 41.61 Increased By ▲ 0.56 (1.36%)
EPCL 46.22 Decreased By ▼ -0.23 (-0.5%)
FCCL 11.63 Increased By ▲ 0.23 (2.02%)
FFL 5.11 Increased By ▲ 0.06 (1.19%)
FLYNG 5.80 No Change ▼ 0.00 (0%)
GGL 10.40 Increased By ▲ 0.07 (0.68%)
HUBC 67.54 Increased By ▲ 0.67 (1%)
HUMNL 5.77 Increased By ▲ 0.06 (1.05%)
KAPCO 28.00 Increased By ▲ 0.24 (0.86%)
KEL 2.29 Increased By ▲ 0.09 (4.09%)
LOTCHEM 25.06 Increased By ▲ 0.16 (0.64%)
MLCF 21.67 Increased By ▲ 0.23 (1.07%)
NETSOL 86.06 Increased By ▲ 2.46 (2.94%)
OGDC 92.38 Increased By ▲ 6.48 (7.54%)
PAEL 11.06 Increased By ▲ 0.05 (0.45%)
PIBTL 4.23 Increased By ▲ 0.01 (0.24%)
PPL 80.15 Increased By ▲ 5.67 (7.61%)
PRL 13.64 Increased By ▲ 0.21 (1.56%)
SILK 0.89 Decreased By ▼ -0.03 (-3.26%)
SNGP 43.47 Increased By ▲ 3.07 (7.6%)
TELE 5.93 Increased By ▲ 0.07 (1.19%)
TPLP 15.82 Increased By ▲ 0.42 (2.73%)
TRG 114.88 Increased By ▲ 3.47 (3.11%)
UNITY 13.76 Increased By ▲ 0.01 (0.07%)
WTL 1.16 Increased By ▲ 0.02 (1.75%)
BR100 4,124 Increased By 87 (2.16%)
BR30 14,930 Increased By 518.1 (3.59%)
KSE100 41,191 Increased By 719.6 (1.78%)
KSE30 15,494 Increased By 331.4 (2.19%)
Follow us

Pakistan's rupee continued to gain for the third consecutive session against the US dollar, appreciating 0.65% to close below the 174 level at the inter-bank market on Wednesday.

As per the State Bank of Pakistan (SBP), the PKR closed at 173.76 against the USD after a day-on-day appreciation of Rs1.13 or 0.65%. The improvement comes after the rupee gained 0.23% or Rs0.40 against the dollar on Tuesday.

Last week on Friday, the PKR had depreciated to its lowest historic level of 175.73 against the USD in the inter-bank market.

The rupee has seen a volatile ride against the US dollar in the past few weeks, amid lack of clarity over the International Monetary Fund (IMF) Extended Fund Facility (EFF) announcement.

This latest round of appreciation, however, comes as Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin repeated that approval of the pending sixth review of the EFF is contingent on the fulfilment of about five prior actions set by the IMF.

Pakistan's rupee registers second successive gain against US dollar

Talking to media persons, Tarin said that three major prior actions are power tariff, withdrawal of exemptions, and agreed autonomy to the State Bank of Pakistan (SBP), while he did not reveal the remaining two, and stated that they are of less importance.

“We have already fulfilled the power tariff increase for this review and the remaining would be due after February 2022,” said Tarin.

IMF facility hinges on ‘5 prior actions’: Tarin

To a question on SBP deputy governor’s statement that the recent depreciation would fuel inflation, Tarin expressed confidence that the rupee would strengthen as soon as the Fund programme is revived after completion of the sixth review.

Inter-bank market rates for dollar on Wednesday

BID Rs 173.76

OFFER Rs 173.86

Open-market movement

In the open market, the PKR gained 1.20 rupees for both buying and selling against USD, closing at 174.80 and 175.80, respectively.

Against Euro, the PKR gained 2.50 rupees for buying and 2.55 rupees for selling, closing at 197 and 198.90, respectively.

Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 49 and 49.45, respectively.

Against Saudi Riyal, the PKR gained 20 paisas for buying and 30 paisas for selling, closing at 45.80 and 46.15, respectively.

Open-market rates for dollar on Wednesday

BID Rs 174.80

OFFER Rs 175.80

Comments

Comments are closed.

Asim Nov 18, 2021 03:32pm
Accoeding to the Governor SBP it will loss of pakistan?
thumb_up Recommended (0)

Pakistan's rupee extends gains for third successive session against US dollar

Rupee up 0.46%, ends day at 275.30 against US dollar

KSE-100 jumps over 700 points amid return of positive sentiment

Second hike in two weeks: Honda Atlas jacks up car prices by up to Rs550,000

PM Shehbaz announces aid for quake-hit Turkiye

Govt projection of achieving $3bn current account surplus in FY23 ‘unrealistic’: PBC

IHC bars Sindh, Balochistan police from taking action against Sheikh Rashid

Govt schedules All Parties Conference for February 9

Kohinoor Textile board recommends buyback of 30 million ordinary shares

Islamabad police say security being improved at F-9 Park after rape incident

Saudi Arabia raises price for March Arab Light crude to Asia: sources