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Pakistan rupee

US Dollar weakens by Rs1 against local currency

KARACHI: The rupee showed hike by Rs1 in the open market against the greenback on Thursday to Rs123.80. According to foreign exchange dealers, the solidity in rates of rupee-dollar is vital when in order to buy and sell dollars and other chief foreign currencies in kerb market, this is the main reason of rupee fractional recovery against dollar. On Thursday, the rupee remained stable against the dollar in inter-bank trading at Rs121.54 and remained largely unchanged since last week or so. Previously, the rupee had…

Pakistani rupee strengthens against US Dollar

KARACHI: The rupee strengthened against the US dollar at Rs121.45/121.65 in the inter-bank market on Friday compared with Thursday’s close of Rs121.6/121.8. With reference to the past week, rupee value is on the verge of continuous depreciation. However, Pakistani currency weakened further by 3.65% in its third round of rupee depreciation last week. Since December, the rupee has cumulatively shed close to 13% of its value after the central bank reportedly abstained from intervening in response to the pressure due to a…

Value of Pakistani Rupee remains stable against dollar

KARACHI: Pakistani rupee showed stability against US dollar in the inter-bank market on Tuesday compared with Monday’s close of Rs115.5/115.7. The rupee remained constant against the dollar at Rs115.5/115.7 As per Central bank report, rupee showed a downward trend nearby to 9% of its value, since December. The main reason of such negative trend is an answer of the burden created due to broadening of current account deficit. According to State Bank of Pakistan, rupee value mainly depends upon the supply & demand…