Tag: Interbank
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7th straight win: Pakistani rupee gains 86 paisas, closes at Rs297.96 per US dollar
The Pakistani Rupee (PKR) has extended its impressive winning streak against the US dollar for the seventh consecutive session, concluding at PKR 297.96 to the dollar. This marks a gain of 86 paisas when compared to the previous rate of Rs298.82 in the interbank foreign exchange market on Wednesday.
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Pakistani rupee declines to new historic low of Rs299 per US dollar
On Tuesday, the Pakistani rupee experienced a significant drop, marking a historic low. This depreciation, amounting to 0.6 per cent against the US dollar in the interbank market, was attributed to the relaxation of import restrictions. This policy shift led to increased demand for the dollar.
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Pakistani rupee’s three-day winning streak ends due to delayed IMF deal
The value of the Pakistani rupee (PKR) decreased 0.45 per cent against the US dollar following a three-day period of gains due to prolonged delays in critical funding from the International Monetary Fund (IMF). During the interbank session held today, the PKR depreciated by Rs1.3 to settle at Rs279.12 per USD, compared to yesterday’s closing…
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Pakistani rupee strengthens by Rs2.82 against dollar, closes at Rs270.51
The Pakistani rupee (PKR) experienced an upward trend against the US dollar in the inter-bank market on Thursday, appreciating by 1.04 per cent due to expectations surrounding the revival of the International Monetary Fund (IMF) program. According to the State Bank of Pakistan (SBP), the currency closed at Rs270.51 against the US dollar, reflecting an…
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Pakistani rupee witnesses biggest single-day decline against dollar in more than two decades
Pakistani rupee dropped significantly against the US dollar in the interbank market on Thursday, as it fell more than 9 per cent during the intraday trade. Around 1:30 PM, the dollar’s intraday quote was Rs254.75, which represents a depreciation of Rs23.86. According to Ismail Iqbal Securities, “This is the largest single-day decline in both absolute…
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Pakistani banks start charging dollar transactions at open market rates
Pakistani banks have announced that they will settle debit and credit card transactions made with foreign retailers and websites at the open market exchange rate for the US dollar. The conversion rate for the transactions would be calculated by the open market rate in place at the time, which might not match the rate listed…
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Pakistani rupee inching towards all-time low once again
In the first hours of trade on Tuesday, the Pakistani rupee (PKR) fluctuated between Rs238 and Rs239 as it lost value versus the US dollar in the interbank market. During intra-day trade at roughly 10:20 am, the rupee was quoted at Rs237.99, a devaluation of Rs0.08 or 0.03 per cent versus the greenback. In the…
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Pakistani rupee crashes against US dollar for 11th day in a row
For the eleventh session in a row, Pakistan’s rupee has lost value versus the US dollar, falling 0.41 per cent on Friday in the interbank market as the dollar gained momentum throughout the world and investors’ concerns about the increasing trade imbalance intensified. The rupee dropped by Rs0.96, according to the State Bank of Pakistan…
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Rupee gets stronger by Rs2.11 to close at Rs224.04 against US dollar
During intraday trade on Friday in the interbank market, the Pakistani rupee (PKR) climbed by Rs2.11 against the US dollar for the sixth session in a row. In the course of the day’s trading, the local currency gained Rs2.11 or 0.94 per cent versus the dollar and closed at Rs224.04, down from Thursday’s closing of…
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Pakistani rupee continues to recover, PSX witnesses bullish trend
The dollar was trading at Rs223 on Thursday, as the Pakistani rupee (PKR) increased by Rs5.79 in interbank trade to extend its winning streak versus the dollar to five days. The Pakistani rupee increased against the US dollar for the fifth day in a row, rising Rs2.65 to close at Rs226.15. As the market opened…