AGL 38.20 Increased By ▲ 0.26 (0.69%)
AIRLINK 196.21 Increased By ▲ 2.30 (1.19%)
BOP 9.36 Increased By ▲ 0.04 (0.43%)
CNERGY 5.82 Decreased By ▼ -0.02 (-0.34%)
DCL 8.64 Decreased By ▼ -0.04 (-0.46%)
DFML 35.48 Decreased By ▼ -0.98 (-2.69%)
DGKC 95.00 Increased By ▲ 2.46 (2.66%)
FCCL 35.30 Increased By ▲ 1.33 (3.92%)
FFBL 87.05 Increased By ▲ 4.75 (5.77%)
FFL 12.99 Increased By ▲ 0.24 (1.88%)
HUBC 125.50 Increased By ▲ 4.89 (4.05%)
HUMNL 13.40 Decreased By ▼ -0.20 (-1.47%)
KEL 5.19 Decreased By ▼ -0.03 (-0.57%)
KOSM 6.83 Increased By ▲ 0.31 (4.75%)
MLCF 44.33 Increased By ▲ 2.22 (5.27%)
NBP 61.00 Increased By ▲ 1.19 (1.99%)
OGDC 210.40 Decreased By ▼ -0.77 (-0.36%)
PAEL 38.45 Increased By ▲ 0.87 (2.32%)
PIBTL 8.24 Increased By ▲ 0.17 (2.11%)
PPL 190.32 No Change ▼ 0.00 (0%)
PRL 38.20 Increased By ▲ 0.03 (0.08%)
PTC 25.80 Increased By ▲ 2.35 (10.02%)
SEARL 100.25 Increased By ▲ 2.31 (2.36%)
TELE 8.22 No Change ▼ 0.00 (0%)
TOMCL 34.70 Decreased By ▼ -0.33 (-0.94%)
TPLP 13.20 Decreased By ▼ -0.35 (-2.58%)
TREET 21.65 Decreased By ▼ -1.08 (-4.75%)
TRG 54.50 Increased By ▲ 1.63 (3.08%)
UNITY 32.99 Increased By ▲ 0.03 (0.09%)
WTL 1.59 Increased By ▲ 0.07 (4.61%)
BR100 11,585 Increased By 201.3 (1.77%)
BR30 35,836 Increased By 624.3 (1.77%)
KSE100 108,016 Increased By 1741.1 (1.64%)
KSE30 33,934 Increased By 580.2 (1.74%)

KARACHI: The rupee gained nearly 4% against the US dollar during a shortened previous week, extending its winning run to nine sessions to eventually close at 215.49 in the inter-bank market.

The level is a far cry from where the rupee closed on July 28 when it registered its all-time low of 239.94. Since then, it has registered gains in nine successive sessions, appreciating over Rs24.45 or 11.3% against the US dollar.

The winning run comes on the back of major developments over the International Monetary Fund (IMF) front, starting from the Washington-based lender’s statement on Pakistan completing its last prior action, exporters realising their proceeds, and a lower import bill that took pressure off persistently-falling foreign exchange reserves.

Rupee extends gains, closes at 215.49 against US dollar

While Pakistan reported reserves held by the State Bank of Pakistan (SBP) at under $8 billion in the previous week, reports that UAE has expressed its commitment to invest $1 billion along with Saudi Arabia’s plans to renew its $3-billion deposit in assistance and intention to provide $100 million per month for 10 months in petroleum products as additional support are likely to keep the rupee away from pressure.

Open-market rates

In the open market, the PKR gained 9 rupees for both buying and selling against USD, closing at 211 and 213, respectively.

Against Euro, the PKR gained 7 rupees for both buying and selling, closing at 217 and 219, respectively.

Against UAE Dirham, the PKR gained 2.80 rupees for buying and 2.60 rupees for selling, closing at 57.50 and 58.20, respectively.

Against Saudi Riyal, the PKR gained 1.90 rupees for both buying and selling closing, at 56.20 and 56.70, respectively.

========================================

THE RUPEE

========================================

Weekly Interbank market rates for dollar

========================================

Bid Close Rs. 215.50

Offer Close Rs. 216.50

Bid Open Rs. 224.00

Offer Open Rs. 225.00

========================================

Weekly Open market rates for dollar

========================================

Bid Close Rs. 211.00

Offer Close Rs. 213.00

Bid Open Rs. 220.00

Offer Open Rs. 222.00

========================================

Copyright Business Recorder, 2022

Comments

Comments are closed.