BR RESEARCH
KARACHI: On Tuesday, PKR continued to go down against USD in both interbank and open markets going below 165. It also continued to fall against other majors in open market. This was opposite to global markets where at the time of writing of this report, USD was holding near five day low from last day’s session as markets shifted to riskier assets after US Food and Drug Administration approved COVID-19 vaccine developed by Pfizer and BioNTech thus relieving concerns to some extent about spread of Delta variant that had caused dollar to bounce up last week. Some analysts have also pointed towards thin liquidity as a factor behind swings in market risk appetite.
INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee lost 55 paisas for buying and 20 paisas for selling against USD over yesterday’s rates closing at 165.10 and 165.20 respectively.
OPEN MARKET RATES: In the open market, PKR lost 70 paisas for both buying and selling over yesterday’s rates closing at 165.40 and 165.70 respectively.
Against Euro, PKR lost 80 paisas for buying and 70 paisas for selling closing at 192.50 and 193.70 respectively.
Against UAE Dirham, PKR lost 15 paisas for buying and 10 paisas for selling closing at 44.90 and 45.10 respectively.
Against Saudi Riyal, PKR lost 15 paisas for buying and 20 paisas for selling closing at 43.80 and 44 respectively.
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Open Bid Rs 165.40
Open Offer Rs 165.70
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Tuesday.
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Bid Rate Rs 165.10
Offer Rate Rs 165.20
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RUPEE IN LAHORE: The Pak rupee maintained its downward journey for the second consecutive day against the greenback and the British pound in the open currency market on Tuesday.
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 165.00 and Rs 166.00 against the overnight closing rates of Rs 164.30 and Rs 165.40, respectively, local currency dealers said.
Likewise, the rupee also followed suit in relation to the pound sterling that was bought and sold at Rs 225.50 and Rs 227.00 against Monday’s closing trend of Rs 223.50 and Rs 225.20, 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 Tuesday.
The dollar opened at Rs165.90(buying) and Rs 166(selling) against last rate of Rs164.90(buying) and Rs 165(selling).
It closed at Rs165.90(buying) and Rs 166(selling).
The buying and selling rates of one tola of gold traded at Rs. 109,700 (buying) and Rs109,500(selling).
Copyright Business Recorder, 2021
