AGL 37.01 Decreased By ▼ -0.99 (-2.61%)
AIRLINK 132.60 Decreased By ▼ -4.09 (-2.99%)
BOP 5.51 Increased By ▲ 0.09 (1.66%)
CNERGY 3.79 Decreased By ▼ -0.04 (-1.04%)
DCL 7.48 Decreased By ▼ -0.11 (-1.45%)
DFML 44.81 Decreased By ▼ -1.24 (-2.69%)
DGKC 81.20 Increased By ▲ 0.85 (1.06%)
FCCL 28.65 Increased By ▲ 0.62 (2.21%)
FFBL 54.75 Decreased By ▼ -0.46 (-0.83%)
FFL 8.55 Decreased By ▼ -0.03 (-0.35%)
HUBC 107.90 Decreased By ▼ -4.75 (-4.22%)
HUMNL 13.56 Increased By ▲ 1.23 (9.98%)
KEL 3.81 Decreased By ▼ -0.04 (-1.04%)
KOSM 7.04 Decreased By ▼ -1.03 (-12.76%)
MLCF 36.25 Increased By ▲ 1.14 (3.25%)
NBP 67.30 Increased By ▲ 1.30 (1.97%)
OGDC 169.49 Decreased By ▼ -1.67 (-0.98%)
PAEL 24.88 Decreased By ▼ -0.30 (-1.19%)
PIBTL 6.15 Decreased By ▼ -0.05 (-0.81%)
PPL 130.70 Decreased By ▼ -2.15 (-1.62%)
PRL 24.50 Increased By ▲ 0.10 (0.41%)
PTC 15.77 Increased By ▲ 1.25 (8.61%)
SEARL 57.80 Decreased By ▼ -1.15 (-1.95%)
TELE 6.99 Decreased By ▼ -0.10 (-1.41%)
TOMCL 34.73 Decreased By ▼ -0.27 (-0.77%)
TPLP 7.70 Decreased By ▼ -0.39 (-4.82%)
TREET 13.96 Decreased By ▼ -0.34 (-2.38%)
TRG 44.25 Decreased By ▼ -1.34 (-2.94%)
UNITY 25.15 Decreased By ▼ -0.84 (-3.23%)
WTL 1.18 Decreased By ▼ -0.02 (-1.67%)
BR100 9,082 Decreased By -1.8 (-0.02%)
BR30 27,380 Decreased By -251 (-0.91%)
KSE100 85,483 Increased By 30.2 (0.04%)
KSE30 27,160 Increased By 10.7 (0.04%)

The Pakistani rupee registered marginal appreciation against the US dollar, strengthening 0.13% in the inter-bank market on Thursday.

At close, the currency settled at 277.04, an increase of Re0.37, as per the State Bank of Pakistan (SBP).

On Wednesday, the Pakistani rupee sustained losses against the US dollar, depreciating 0.71% in the inter-bank market to settle at 277.41.

In a key development, the International Monetary Fund (IMF) Executive Board meeting on Pakistan has been set for July 12, the lender confirmed to journalists via email on Wednesday night.

The Fund is set to discuss a nine-month Stand-by Arrangement (SBA) for Pakistan as the previous Extended Fund Facility (EFF) expired on June 30.

On June 30, IMF announced that its staff and Pakistani authorities reached an agreement on policies to be supported by a $3-billion, nine-month SBA.

The IMF programme is crucial for the country facing a balance of payment crisis. Experts say the programme resumption would also pave the way for funding from multilateral and bilateral institutions.

Globally, the US dollar was broadly higher on Thursday, after the release of minutes from the Federal Reserve’s latest policy meeting cemented market expectations for a rate hike this month.

Minutes of the Fed’s June meeting released on Wednesday showed that the vast majority of policymakers expect further tightening in U.S. monetary policy, even as they agreed to hold interest rates steady last month.

The dollar index rose 0.04% to 103.38.

Oil prices, a key indicator of currency parity, were little changed on Thursday as the market digested tighter crude supply alongside fears of global economic slowdown.

Inter-bank market rates for dollar on Thursday

BID Rs 276.30

OFFER Rs 276.50

Open-market movement

In the open market, the PKR gained 1.00 rupee for both buying and selling against USD, closing at 277.00 and 280.00, respectively.

Against Euro, the PKR lost 1.50 rupee for buying and 2.00 rupee for selling, closing at 298.50 and 302.00 respectively.

Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 75.00 and 75.70, respectively.

Against Saudi Riyal, the PKR remained unchanged for both buying and selling, closing at 73.00 and 73.70, respectively.

Open-market rates for dollar on Thursday

BID Rs 277.00

OFFER Rs 280.00

Comments

Comments are closed.

Tulukan Mairandi Jul 06, 2023 11:11am
Rupee is basically stable against USD even when IMF gives $3 bn because that isn't the case. Gullible Pakistanis fall for Dar's lies but not the Market. It's just a Standby Agreement that has yet to get board approval. PKR hovering at 315 in open market
thumb_up Recommended (0)
A2aliii Jul 06, 2023 03:02pm
@Tulukan Mairandi, any one need USD .. i want to sell $30K @ 310.
thumb_up Recommended (0)
Hyder Rajput Jul 06, 2023 05:45pm
@A2aliii, hahahha stupid hoarders scrambling now i like seeing this, btw anyone who visits this site regularly knows Tulukan is an indian troll with his agendas, dollar is available at 285 in open why would anyone pay 310 right now
thumb_up Recommended (0)