AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 132.66 Increased By ▲ 3.13 (2.42%)
BOP 6.89 Increased By ▲ 0.21 (3.14%)
CNERGY 4.57 Decreased By ▼ -0.06 (-1.3%)
DCL 8.92 Decreased By ▼ -0.02 (-0.22%)
DFML 42.75 Increased By ▲ 1.06 (2.54%)
DGKC 84.00 Increased By ▲ 0.23 (0.27%)
FCCL 32.90 Increased By ▲ 0.13 (0.4%)
FFBL 77.06 Increased By ▲ 1.59 (2.11%)
FFL 12.20 Increased By ▲ 0.73 (6.36%)
HUBC 110.01 Decreased By ▼ -0.54 (-0.49%)
HUMNL 14.40 Decreased By ▼ -0.16 (-1.1%)
KEL 5.53 Increased By ▲ 0.14 (2.6%)
KOSM 8.32 Decreased By ▼ -0.08 (-0.95%)
MLCF 39.67 Decreased By ▼ -0.12 (-0.3%)
NBP 65.50 Increased By ▲ 5.21 (8.64%)
OGDC 198.74 Decreased By ▼ -0.92 (-0.46%)
PAEL 26.00 Decreased By ▼ -0.65 (-2.44%)
PIBTL 7.62 Decreased By ▼ -0.04 (-0.52%)
PPL 159.00 Increased By ▲ 1.08 (0.68%)
PRL 26.24 Decreased By ▼ -0.49 (-1.83%)
PTC 18.35 Decreased By ▼ -0.11 (-0.6%)
SEARL 82.24 Decreased By ▼ -0.20 (-0.24%)
TELE 8.12 Decreased By ▼ -0.19 (-2.29%)
TOMCL 34.40 Decreased By ▼ -0.11 (-0.32%)
TPLP 8.98 Decreased By ▼ -0.08 (-0.88%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.49 Decreased By ▼ -1.83 (-2.98%)
UNITY 27.52 Increased By ▲ 0.09 (0.33%)
WTL 1.40 Increased By ▲ 0.02 (1.45%)
BR100 10,614 Increased By 206.9 (1.99%)
BR30 31,874 Increased By 160.5 (0.51%)
KSE100 98,972 Increased By 1644 (1.69%)
KSE30 30,784 Increased By 591.7 (1.96%)

Pakistan's rupee continued to gain for the third consecutive session against the US dollar, appreciating 0.65% to close below the 174 level at the inter-bank market on Wednesday.

As per the State Bank of Pakistan (SBP), the PKR closed at 173.76 against the USD after a day-on-day appreciation of Rs1.13 or 0.65%. The improvement comes after the rupee gained 0.23% or Rs0.40 against the dollar on Tuesday.

Last week on Friday, the PKR had depreciated to its lowest historic level of 175.73 against the USD in the inter-bank market.

The rupee has seen a volatile ride against the US dollar in the past few weeks, amid lack of clarity over the International Monetary Fund (IMF) Extended Fund Facility (EFF) announcement.

This latest round of appreciation, however, comes as Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin repeated that approval of the pending sixth review of the EFF is contingent on the fulfilment of about five prior actions set by the IMF.

Pakistan's rupee registers second successive gain against US dollar

Talking to media persons, Tarin said that three major prior actions are power tariff, withdrawal of exemptions, and agreed autonomy to the State Bank of Pakistan (SBP), while he did not reveal the remaining two, and stated that they are of less importance.

“We have already fulfilled the power tariff increase for this review and the remaining would be due after February 2022,” said Tarin.

IMF facility hinges on ‘5 prior actions’: Tarin

To a question on SBP deputy governor’s statement that the recent depreciation would fuel inflation, Tarin expressed confidence that the rupee would strengthen as soon as the Fund programme is revived after completion of the sixth review.

Inter-bank market rates for dollar on Wednesday

BID Rs 173.76

OFFER Rs 173.86

Open-market movement

In the open market, the PKR gained 1.20 rupees for both buying and selling against USD, closing at 174.80 and 175.80, respectively.

Against Euro, the PKR gained 2.50 rupees for buying and 2.55 rupees for selling, closing at 197 and 198.90, respectively.

Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 49 and 49.45, respectively.

Against Saudi Riyal, the PKR gained 20 paisas for buying and 30 paisas for selling, closing at 45.80 and 46.15, respectively.

Open-market rates for dollar on Wednesday

BID Rs 174.80

OFFER Rs 175.80

Comments

Comments are closed.

Asim Nov 18, 2021 03:32pm
Accoeding to the Governor SBP it will loss of pakistan?
thumb_up Recommended (0)