THE RUPEE: Mixed behaviour

12 Jun, 2020

KARACHI: On Thursday, Pakistan Rupee exhibited mixed behaviour with no change against USD in interbank market over Wednesday's closing rates while weakening against USD in open market for buying and strengthening for selling. Against Euro in open market, it remained unchanged on market close. RATES: In the interbank market, Pakistan Rupee exhibited no change against USD over Wednesday's rates closing at 164.40 and 164.70 respectively. In the open market, PKR weakened by 10 paisas for buying while gaining 10 paisas for selling against USD over Wednesday's rates closing at 164.40 and 164.80 respectively.Against Euro, PKR exhibited no change over Wednesday's rates when it closed at 184 and 185.50 for buying and selling respectively.Against UAE Dirham, PKR weakened by 20 paisas for both buying and selling closing at 44.30 and 44.60 respectively.Against Saudi Riyal, PKR weakened by 5 paisas for buying and showed no change for selling closing at 43.15 and 43.40 respectively.

========================Open Bid       Rs 164.40Open Offer     Rs 164.80========================

========================Bid Rate       Rs 164.40Offer Rate     Rs 164.70========================

The short supply phenomenon of the greenback prevailed for another day in the market which helped its further appreciation for buying and selling at Rs 164.50 and Rs 166.00 against the overnight closing trend of Rs 164.20 and Rs 165.50 respectively, local currency dealers said.

On the other hand, the national currency showed strength as it recovered its day earlier losses versus the pound sterling. As a result, the pound's buying and selling rates declined from the Wednesday's closing of Rs 206.20 and Rs 207.90 to Rs 205.50 and Rs 207.30 respectively, they added.

The dollar opened at Rs165.25 (buying) and Rs 165.35 (selling) against same last rate.

It closed at Rs165.25 (buying) and Rs 165.35 (selling).

The buying and selling rates of one tola of gold were Rs 106,200 (selling) and Rs 106,000 (selling) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.

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