Tag: intraday activity
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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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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…