BR RESEARCH
KARACHI: On Wednesday, PKR continued its fall against USD in both interbank and open markets going below 159 in open market. It however remained unchanged against Euro while continuing to lose value against AED and SR in open market. In global currency markets, USD retreated against other major currencies as US Fed officials reaffirmed that Federal Reserve will not raise interest rates too quickly.
INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 40 paisas for both buying and selling against USD over yesterday’s rates closing at 158.50 and 158.60 respectively.
OPEN MARKET RATES: In the open market, PKR lost 50 paisas for both buying and selling over yesterday’s rates closing at 158.80 and 159.30 respectively.
Against Euro, PKR remained unchanged for both buying and selling closing at 187 and 188.50 respectively.
Against UAE Dirham, PKR lost 5 paisas for both buying and selling closing at 43.05 and 43.25 respectively.
Against Saudi Riyal, PKR lost 5 paisas for buying while remaining unchanged for selling closing at 42.10 and 42.25 respectively.
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Open Bid Rs 158.80
Open Offer Rs 159.30
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday
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Bid Rate Rs 158.50
Offer Rate Rs 158.60
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RUPEE IN LAHORE: The Pak rupee continued to keep going down for the third consecutive day against the greenback and the British pound in the local currency market on Wednesday.
According to currency dealers, 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 158.30 and Rs 159.90 against the overnight closing rates of Rs 158.00 and Rs 159.40 respectively, local currency dealers said.
Similarly, the rupee also followed suit in relation to the pound sterling that was bought and sold at Rs 220.20 and Rs 221.90 against Tuesday’s closing trend of Rs 218.80 and Rs 220.00 respectively, they added.
RUPEE IN ISLAMABAD AND RAWALPINDI: The dollar gained Rs 1 against the rupee at the open currency markets of Islamabad and Rawalpindi here on Wednesday.
The dollar opened at Rs 159.70(buying) and Rs 159.80(selling) against last rate of Rs 158.70(buying) and Rs 158.80(selling).
It closed at Rs 159.70(buying) and Rs 159.80(selling).
The buying and selling rates of one tola of gold remained Rs. 99,700 (selling) and Rs 99,500(buying) in the local Sarafa (gold) markets of twin cities of Islamabad and Rawalpindi.
Copyright Business Recorder, 2021
