AVN 68.48 Increased By ▲ 1.38 (2.06%)
BAFL 31.00 No Change ▼ 0.00 (0%)
BOP 4.91 Increased By ▲ 0.01 (0.2%)
CNERGY 3.75 Decreased By ▼ -0.03 (-0.79%)
DFML 14.23 Decreased By ▼ -0.20 (-1.39%)
DGKC 41.64 Decreased By ▼ -0.21 (-0.5%)
EPCL 45.37 Decreased By ▼ -1.20 (-2.58%)
FCCL 11.71 Increased By ▲ 0.02 (0.17%)
FFL 5.10 Increased By ▲ 0.03 (0.59%)
FLYNG 5.85 Increased By ▲ 0.05 (0.86%)
GGL 10.41 Decreased By ▼ -0.01 (-0.1%)
HUBC 68.50 Increased By ▲ 0.50 (0.74%)
HUMNL 5.75 Decreased By ▼ -0.01 (-0.17%)
KAPCO 28.22 Increased By ▲ 0.12 (0.43%)
KEL 2.26 Decreased By ▼ -0.03 (-1.31%)
LOTCHEM 25.10 Increased By ▲ 0.05 (0.2%)
MLCF 21.58 Decreased By ▼ -0.11 (-0.51%)
NETSOL 88.35 Increased By ▲ 2.35 (2.73%)
OGDC 99.30 Increased By ▲ 6.92 (7.49%)
PAEL 11.11 Increased By ▲ 0.02 (0.18%)
PIBTL 4.23 Decreased By ▼ -0.01 (-0.24%)
PPL 82.45 Increased By ▲ 2.30 (2.87%)
PRL 13.34 Decreased By ▼ -0.30 (-2.2%)
SILK 0.90 No Change ▼ 0.00 (0%)
SNGP 44.38 Increased By ▲ 0.91 (2.09%)
TELE 6.18 Increased By ▲ 0.22 (3.69%)
TPLP 15.81 Increased By ▲ 0.08 (0.51%)
TRG 119.75 Increased By ▲ 4.74 (4.12%)
UNITY 14.10 Increased By ▲ 0.25 (1.81%)
WTL 1.26 Increased By ▲ 0.10 (8.62%)
BR100 4,171 Increased By 47 (1.14%)
BR30 15,253 Increased By 323.5 (2.17%)
KSE100 41,645 Increased By 454.1 (1.1%)
KSE30 15,700 Increased By 205.9 (1.33%)
Follow us

Pakistan’s rupee registered a marginal loss for the third consecutive session against the US dollar on Wednesday, as the currency recorded a depreciation of 0.02% in the inter-bank market.

As per the State Bank of Pakistan (SBP), the rupee closed at 224.16 after a decrease of Re0.05. The rupee has depreciated by 21.25% against the US dollar during the ongoing calendar year.

On Tuesday, the rupee had registered losses against the US dollar to settle at 224.11 after a decrease of Re0.20 or 0.09%.

In a key development on Tuesday, the Finance Division rejected reports of supposed economic emergency proposals circulating on social media, categorically stating it has no such plans.

The Finance Division in its message said the reports are "unfortunately aimed at creating uncertainty about the economic situation in the country".

Globally, the dollar crept higher on Wednesday as top executives from the biggest US banks warned of an impending recession, which dampened risk appetite and kept the greenback supported.

Top bankers from JPMorgan Chase & Co, Bank of America and Goldman Sachs said overnight that the banks are bracing for a worsening economy next year, as inflation threatens consumer demand.

Against a basket of currencies, the US dollar index was last 0.05% higher at 105.60.

It had risen nearly 0.3% overnight, extending a brief rally for a second straight session after upbeat US services and factory data released at the start of the week pointed to underlying momentum in the world’s largest economy.

Oil prices, a key indicator of currency parity, fell in a volatile market on Tuesday as the US dollar stayed strong and economic uncertainty offset the bullish impact of a price cap placed on Russian oil and the prospects of a demand boost in China.

Inter-bank market rates for dollar on Wednesday

BID Rs 224.25

OFFER Rs 225.25

Open-market movement

In the open market, the PKR lost 46 paisas for buying and 50 paisas for selling against USD, closing at 229.71 and 232, respectively.

Against Euro, the PKR gained 50 paisas for both buying and selling, closing at 249 and 251 respectively.

Against UAE Dirham, the PKR gained 20 paisas for both buying and selling, closing at 65.30 and 65.80, respectively.

Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 63.20 and 63.70, respectively.

Open-market rates for dollar on Wednesday

BID Rs 229.71

OFFER Rs 232

Comments

Comments are closed.

Salim Dec 07, 2022 11:57am
You don't report correctly.
thumb_up Recommended (0)

Rupee registers marginal decline, settles at 224.16 against US dollar

Intra-day update: rupee down against US dollar

PM Shehbaz orders establishment of relief fund to aid Turkiye

Intra-day update: KSE-100 Index up over 500 points

Debt reprofiling viable option for Pakistan under IMF watch: report

Islamabad court rejects Sheikh Rashid’s bail petition

IMF should work with Pakistan to protect the deprived: Human Rights Watch

Toshakhana case: Islamabad court defers Imran Khan's indictment

Earthquake rescue work moves slowly as death toll passes 5,000

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

Policy-level talks with IMF begin today