Tag: Greenback
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Pakistani rupee closes at Rs277.41 as US dollar recovers by nearly Rs2 in interbank trade
The US dollar appears to have bounced back on Wednesday at the opening of interbank trade, as it gained 31 paisas. The American currency closed at Rs277.41 after gaining Rs1.97 against the local unit. The dollar was exchanged for Rs275.75 at the start of the trading session on Wednesday.
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Pakistani rupee bounces back after steep decline against dollar
During the early hours of trading on Friday, the Pakistani rupee (PKR) saw a significant recovery against the US dollar, with an increase of 4.51 per cent. The inter-bank market quoted the PKR at Rs272.78 by 11:50 am, representing an increase of Rs12.31 against the US dollar. This follows a steep decline of 6.66 per…
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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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Intraday update: Pakistani rupee drops to historic low of Rs278.67 against US dollar
After Finance Minister Ishaq Dar authorised a proposal for charity groups to help raise almost $2 billion from overseas Pakistanis, the Pakistani rupee (PKR) fell by over 2.5 per cent against the dollar during intraday trade on Friday, falling as low as Rs278 against the dollar. The rupee was trading at Rs278.67 versus the dollar…
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Intraday update: Pakistani rupee drops to all-time low of Rs270 against US dollar
According to information provided by the Forex Association of Pakistan (FAP), the Pakistani rupee depreciated by an additional Rs7.4 after falling to a record low last week, trading at Rs270 per dollar in the interbank market at approximately 1:30 pm on Monday. From Friday’s close of Rs262.6, this represents a loss of more than 2.5…
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Pakistani rupee remains unchanged for the 4th time in a week
The Pakistani rupee (PKR) once again remained unchanged versus the US dollar in the interbank market during the final trading session of the week. It is worth noting that this is the fourth time that the local currency has shown a 0.00 per cent change this week. The only change witnessed in the rupee’s value…
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Rupee resumes downward trend against US dollar
Pakistani rupee suffered a marginal loss of Rs0.50 against the US dollar in the interbank market, extending its losses for a second straight session. State Bank of Pakistan (SBP) reports that the local currency lost Rs0.50 against the dollar in the interbank market and ended the day at Rs218.38. The Forex Association of Pakistan (FAP)…
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Pakistani rupee becomes best performing currency after recording impressive gains
The unpredictable Pakistani rupee, which made the highest rise of 3.9 per cent over five working days to Rs219.92 against the dollar on anticipation of sizable inflows of foreign cash, was dubbed the “world’s best-performing currency” in the week that concluded on Friday. According to analysts monitoring currency movements, the rupee proved to be the…
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Pakistani rupee gains Rs2.13 to close at Rs221.91
In line with improved market sentiment, the Pakistani rupee (PKR) kept strengthening versus the US dollar, closing at Rs221.91 on Wednesday in the inter-bank market. According to the State Bank of Pakistan (SBP), the local currency appreciated by 0.96 per cent or Rs2.13 against the dollar to settle at Rs221.91. The uptick on Wednesday marked…
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Pakistani rupee continues to crash against US dollar, closes near Rs240
The Pakistani rupee (PKR) continued to depreciate against the US dollar on Thursday, closing near Rs240, another record low in the inter-bank market as a result of pressure from import payments and the government’s alleged inability to intervene. The local currency fell by Rs3.92 (1.63 per cent) or more, or Rs239.94, against the dollar, according…