Tag: ECAP
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US dollar surges by Rs1.90, closes at Rs279.80 against Pakistani rupee
According to the State Bank of Pakistan, the US dollar demonstrated further appreciation against the Pakistani rupee in the interbank market on Monday.
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Pakistani rupee drops by more than Rs18 against US dollar due to delay in IMF deal
Pakistani rupee (PKR) experienced a significant decline of over Rs18.8 against the US dollar in the interbank market during intra-day trade, ahead of the monetary policy review and delay in the International Monetary Fund (IMF) deal. At approximately 11:40 am, the greenback was being traded at Rs285 against the local currency, compared to its previous…
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Pakistani rupee gains Rs1.28 against US dollar, closes at Rs275.30
On Monday, the Pakistani rupee exhibited a slight improvement in its exchange rate against the US dollar, closing with a gain of 0.46 per cent in the inter-bank market. The local currency settled at Rs275.30 per US dollar, an improvement of Rs1.28, according to the State Bank of Pakistan (SBP). During the current fiscal year,…
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Intraday update: Pakistani rupee drops to Rs268.30, losing more than Rs12 versus US dollar
Pakistani rupee (PKR) continued its downward trend on Friday, with the rupee declining over Rs12 versus the US dollar in the interbank market. The local currency was trading at Rs268.30, compared to yesterday’s close of Rs255.43 in the interbank market. The dollar has gained Rs30.41 in the interbank market since Thursday as exchange companies removed…
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Exchange companies remove cap on dollar-rupee exchange rate to abolish grey market
The exchange companies have decided to stop artificially keeping Pakistani rupee (PKR) overvalued against US dollar in the open market and let the rupee-dollar exchange rate depreciate to its actual value. Pakistani rupee may steadily lose value until it reaches the level of the grey market in a few days, according to reports. The black…