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Pakistani rupee depreciation

Dollar traded at elevated price in open market

KARACHI: The US dollar is being sold at Rs4 to Rs5 higher in the open market compared to the exchange rates set by the money exchange associations, as the elections are round the corner, it is effecting foreign currency trading. The buying rate on Monday was Rs130.30. But this didn’t portray the actual situation of the market as various currency exchange companies refused to sell dollar and when they did it hovered around Rs132-135 a dollar. According to sources, the purchasing rate for US dollar on Monday was Rs130.30,…

Pakistani rupee hits record low at Rs 130

KARACHI: Pakistani rupee once again depreciated today, as US dollar strikes to Rs130 in the open market breaking all high records. It is observed that US dollar is in the state of gaining Rs0.30 further against Pakistani rupee. The latest weakening in the rupee comes after the dollar spiked to Rs129 in the open market earlier this week. The latest records of high value was earlier this week at the rate of Rs129 in the open market. ALSO READ: Pakistani rupee depreciates once more against US dollar – Rs128.40 According to…

Pakistan’s foreign reserves slumped over 4%- touches ground in the past four years

LAHORE: State Bank of Pakistan (SBP), has declared the most recent statistics of foreign reserves showing descending trend in the past four years, the reserves have fallen to the lowest level of 4.39 percent on weekly basis. According to sources, on 13th July, SBP had $9,063.6 million as foreign currency reserves, which is almost $415.9 million less comparatively to last week's amount of $9,479.5 million. The net reserves in commercial banks are around $6,618.9 million, and total liquid foreign reserves consisting of net…