THE RUPEE: Rise against $ continues

KARACHI: On Wednesday after market close, PKR continued its rise against USD in both interbank and open markets. Whereas according to reports, USD held firm in global currency markets as investors waited for indications of policy changes from US Federal Reserve regarding bond yields. PKR also continued to go up against Euro, AED and SR in Pakistan open market.

INTER-BANK MARKET RATES: In the interbank market, Pakistan Rupee gained one rupee for both buying and selling against USD over yesterday’s rates closing at 155.50 and 155.60 respectively.

OPEN MARKET RATES: In the open market, PKR gained one rupee for both buying and selling as well over yesterday’s rates closing at 155.70 and 156.20 respectively.

Against Euro, PKR gained 1.70 rupees for both buying and selling closing at 184 and 185.50 respectively.

Against UAE Dirham, PKR gained 25 paisas for buying and 20 paisas for selling closing at 42.25 and 42.55 respectively.

Against Saudi Riyal, PKR gained 30 paisas for buying and 35 paisas for selling closing at 41.20 and 41.40 respectively.

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Open Bid       Rs 155.70
Open Offer     Rs 156.20
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Interbank Closing Rates: Interbank Closing Rates For Dollar on Wednesday

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Bid Rate       Rs 155.50
Offer Rate     Rs 155.60
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RUPEE IN LAHORE: The Pak rupee appreciated its worth versus major currencies including the US dollar and the British pound in the open currency market on Wednesday.

Amid lack of the buying spree in the market, the dollar remained under selling pressure throughout the trading session and closed lower for buying and selling at Rs 156.00 and Rs 157.20 against the overnight closing rate of Rs 157.00 and Rs 158.20 respectively, local currency dealers said.

Similarly, the rupee continued to keep going up for the third consecutive day against the pound sterling. Consequently, the pound’s buying and selling rate further declined from Tuesday’s closing of Rs 216.50 and Rs 218.00 to Rs 214.50 and Rs 216.00 respectively, they added.

Copyright Business Recorder, 2021