AVN 67.75 Decreased By ▼ -0.73 (-1.07%)
BAFL 30.82 Decreased By ▼ -0.18 (-0.58%)
BOP 4.84 Decreased By ▼ -0.07 (-1.43%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DFML 14.05 Decreased By ▼ -0.18 (-1.26%)
DGKC 41.04 Decreased By ▼ -0.60 (-1.44%)
EPCL 47.21 Increased By ▲ 1.84 (4.06%)
FCCL 11.58 Decreased By ▼ -0.13 (-1.11%)
FFL 5.11 Increased By ▲ 0.01 (0.2%)
FLYNG 5.95 Increased By ▲ 0.10 (1.71%)
GGL 11.17 Increased By ▲ 0.76 (7.3%)
HUBC 67.68 Decreased By ▼ -0.82 (-1.2%)
HUMNL 5.71 Decreased By ▼ -0.04 (-0.7%)
KAPCO 28.03 Decreased By ▼ -0.19 (-0.67%)
KEL 2.28 Increased By ▲ 0.02 (0.88%)
LOTCHEM 26.25 Increased By ▲ 1.15 (4.58%)
MLCF 21.58 No Change ▼ 0.00 (0%)
NETSOL 86.53 Decreased By ▼ -1.82 (-2.06%)
OGDC 99.78 Increased By ▲ 0.48 (0.48%)
PAEL 11.08 Decreased By ▼ -0.03 (-0.27%)
PIBTL 4.23 No Change ▼ 0.00 (0%)
PPL 80.05 Decreased By ▼ -2.40 (-2.91%)
PRL 13.26 Decreased By ▼ -0.08 (-0.6%)
SILK 0.90 No Change ▼ 0.00 (0%)
SNGP 43.75 Decreased By ▼ -0.63 (-1.42%)
TELE 6.08 Decreased By ▼ -0.10 (-1.62%)
TPLP 15.88 Increased By ▲ 0.07 (0.44%)
TRG 121.33 Increased By ▲ 1.58 (1.32%)
UNITY 14.04 Decreased By ▼ -0.06 (-0.43%)
WTL 1.31 Increased By ▲ 0.05 (3.97%)
BR100 4,181 Increased By 9.7 (0.23%)
BR30 15,270 Increased By 16.5 (0.11%)
KSE100 41,723 Increased By 200.6 (0.48%)
KSE30 15,746 Increased By 83 (0.53%)
Follow us

Pakistan’s rupee fell marginally against the US dollar, depreciating 0.05% in the inter-bank market on Thursday.

As per the State Bank of Pakistan (SBP), the rupee closed at 223.92 after a decline of Re0.11.

On Wednesday, the rupee had reverted to its losing way against the US dollar to settle at 223.81 after a decline of Re0.39 or 0.17%.

Investors have been irked over the delay in negotiations with the International Monetary Fund (IMF) on the ninth review under the Extended Fund Facility (EFF) as the country continues to suffer from low foreign exchange reserves.

Official sources revealed to Business Recorder that some policy slippages on part of the government have delayed the finalisation of a date for the start of formal negotiations on the 9th review.

As per the IMF's seventh and eighth review documents uploaded on the website at the end of September 2022, the ninth review was scheduled for November 3, 2022.

Globally, the US dollar was broadly weaker on Thursday as investors, encouraged by the prospect of a slower pace of interest rate hikes from the Federal Reserve, placed bets on riskier assets.

The eagerly-awaited readout of the Nov. 1-2 Fed meeting showed officials were largely satisfied they could now move in smaller steps.

The dollar index, which measures the greenback against six major peers, was down 0.066% at 105.830, after sliding 1% overnight.

Oil prices, a key indicator of currency parity, declined on Thursday, hovering around two-month lows, as the Group of Seven (G7) nations’ proposed range for a price cap on Russian oil was higher than current trading levels, alleviating concerns over tight supply.

A greater-than-expected build in US gasoline inventories and widening COVID-19 controls in China added to downward pressure.

Inter-bank market rates for dollar on Thursday

BID Rs 224

OFFER Rs 225

Open-market movement

In the open market, the PKR remained unchanged for both buying and selling against USD, closing at 228.75 and 231, respectively.

Against Euro, the PKR lost 2 rupees for both buying and selling, closing at 246 and 248 respectively.

Against UAE Dirham, the PKR lost 10 paisas for buying and 15 paisas for selling, closing at 65.80 and 66.45, respectively.

Against Saudi Riyal, the PKR lost 10 paisas for both buying and selling, closing at 63.80 and 64.40, respectively.

Open-market rates for dollar on Thursday

BID Rs 228.75

OFFER Rs 231

Comments

Comments are closed.

Rupee falls marginally, settles at 223.92 against US dollar

Rupee up 1.08%, settles at 273.33 against US dollar

OGRA calls for action against hoarders of petrol, diesel in Punjab

KSE-100 increases 0.48% owing to hopes of breakthrough in talks with IMF

ECP should announce election schedule for KP, Punjab: President Alvi

More survivors found as Turkiye-Syria quake toll tops 11,200

Pak Suzuki announces plant shutdown yet again due to inventory shortage

MCB’s profit up 10% in 2022, forex income jumps 149%

PM Shehbaz forms committee to make Special Technology Zones Authority functional

Islamabad court approves Sheikh Rashid's transitory remand in Murree case

Pakistan navy to host 50 nations in maritime exercises from Feb 10