AVN 68.10 Increased By ▲ 1.00 (1.49%)
BAFL 31.01 Increased By ▲ 0.01 (0.03%)
BOP 4.93 Increased By ▲ 0.03 (0.61%)
CNERGY 3.80 Increased By ▲ 0.02 (0.53%)
DFML 14.50 Increased By ▲ 0.07 (0.49%)
DGKC 41.85 No Change ▼ 0.00 (0%)
EPCL 45.90 Decreased By ▼ -0.67 (-1.44%)
FCCL 11.85 Increased By ▲ 0.16 (1.37%)
FFL 5.14 Increased By ▲ 0.07 (1.38%)
FLYNG 5.88 Increased By ▲ 0.08 (1.38%)
GGL 10.42 No Change ▼ 0.00 (0%)
HUBC 68.60 Increased By ▲ 0.60 (0.88%)
HUMNL 5.76 No Change ▼ 0.00 (0%)
KAPCO 28.29 Increased By ▲ 0.19 (0.68%)
KEL 2.27 Decreased By ▼ -0.02 (-0.87%)
LOTCHEM 25.25 Increased By ▲ 0.20 (0.8%)
MLCF 21.70 Increased By ▲ 0.01 (0.05%)
NETSOL 87.75 Increased By ▲ 1.75 (2.03%)
OGDC 99.30 Increased By ▲ 6.92 (7.49%)
PAEL 11.15 Increased By ▲ 0.06 (0.54%)
PIBTL 4.26 Increased By ▲ 0.02 (0.47%)
PPL 83.15 Increased By ▲ 3.00 (3.74%)
PRL 13.60 Decreased By ▼ -0.04 (-0.29%)
SILK 0.93 Increased By ▲ 0.03 (3.33%)
SNGP 45.40 Increased By ▲ 1.93 (4.44%)
TELE 6.21 Increased By ▲ 0.25 (4.19%)
TPLP 15.70 Decreased By ▼ -0.03 (-0.19%)
TRG 116.19 Increased By ▲ 1.18 (1.03%)
UNITY 14.01 Increased By ▲ 0.16 (1.16%)
WTL 1.23 Increased By ▲ 0.07 (6.03%)
BR100 4,171 Increased By 46.5 (1.13%)
BR30 15,265 Increased By 334.8 (2.24%)
KSE100 41,616 Increased By 425.5 (1.03%)
KSE30 15,684 Increased By 190.3 (1.23%)
Follow us

Pakistan’s rupee remained stable on Wednesday and closed unchanged against the US dollar for a second successive day.

The local currency closed at Rs223.95 against the greenback.

On Tuesday, the rupee remained unchanged against the US dollar as well.

In a key development, Pakistan sought support from the Bank of China to bring back macroeconomic stability, the South Asian country’s finance ministry said on Tuesday.

Pakistan’s finance minister Ishaq Dar briefed the president of the Bank of China, Liu Jin, about the country’s financial and fiscal conditions, the ministry said in a statement.

Moreover, Pakistan said it has received $500 million from the Asian Infrastructure Investment Bank (AIIB). “The funds are deposited with the SBP and will augment our reserves,” the finance minister said.

Pakistan is facing a cash crunch and its foreign exchange reserves held by the central bank have declined to under $8 billion, while the country is scheduled to make a $1.08 billion bond repayment, which matures on December 5.

Internationally, the US dollar stuck close to a one-week high on Wednesday, holding on to gains from a three-day rally, as investors braced for comments from Federal Reserve Chair Jerome Powell later and a crucial monthly jobs report at the end of the week.

The US dollar index, which measures the greenback against the euro and five other rivals, eased 0.13% to 106.72 after reaching 106.9 in early Asian trading for the first time since November 23.

The index has dipped to around 105.3 twice since the middle of the month, amid bets the Federal Reserve would pivot from aggressive rate hikes after inflation showed signs it may be close to a peak.

Oil prices, a key indicator of currency parity, rose in early Asian trade on Wednesday as US crude inventories were seen falling, but concerns that OPEC+ would leave output policy unchanged at its upcoming meeting limited gains.

Inter-bank market rates for dollar on Wednesday

BID Rs 224

OFFER Rs 225

Open-market movement

In the open market, the PKR lost 50 paisas for both buying and selling against USD, closing at 229.25 and 231.50, respectively.

Against Euro, the PKR gained 50 paisas for both buying and selling, closing at 246 and 248 respectively.

Against UAE Dirham, the PKR gained 30 paisas for buying and 20 paisas for selling, closing at 65.40 and 66, respectively.

Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 63.40 and 63.90, respectively.

Open-market rates for dollar on Wednesday

BID Rs 229.25

OFFER Rs 231.50

Comments

Comments are closed.

Rupee closes unchanged against US dollar for second day

Intra-day update: rupee continues to appreciate against US dollar

Intra-day update: KSE-100 Index up over 400 points

Policy-level talks with IMF begin today

NA clears Trade Dispute Resolution Bill, 2022

Earthquake kills more than 4,300 in Turkey, Syria

Imran optimistic about prospects of ‘jail bharo’ protest

Govt decides to enhance capacity of NEECA

High-income earners directed to pay 50pc of super tax liability

Cases in Karachi, Lasbela: IHC asks police not to take action against Rashid

IR officials deputed at 33 sugar mills in Punjab