AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.00 Decreased By ▼ -0.99 (-0.77%)
BOP 6.68 Increased By ▲ 0.08 (1.21%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.30 Decreased By ▼ -0.18 (-0.43%)
DGKC 86.71 Increased By ▲ 0.13 (0.15%)
FCCL 32.16 Increased By ▲ 0.02 (0.06%)
FFBL 64.70 Decreased By ▼ -0.72 (-1.1%)
FFL 10.29 Increased By ▲ 0.04 (0.39%)
HUBC 109.51 Decreased By ▼ -0.98 (-0.89%)
HUMNL 14.90 Increased By ▲ 0.15 (1.02%)
KEL 5.05 Decreased By ▼ -0.08 (-1.56%)
KOSM 7.40 Increased By ▲ 0.28 (3.93%)
MLCF 41.39 Decreased By ▼ -0.26 (-0.62%)
NBP 60.60 Increased By ▲ 0.51 (0.85%)
OGDC 190.00 Decreased By ▼ -4.69 (-2.41%)
PAEL 27.81 Decreased By ▼ -0.14 (-0.5%)
PIBTL 7.75 Decreased By ▼ -0.25 (-3.13%)
PPL 149.75 Decreased By ▼ -1.42 (-0.94%)
PRL 26.73 Decreased By ▼ -0.15 (-0.56%)
PTC 16.18 Increased By ▲ 0.18 (1.13%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.72 Increased By ▲ 0.33 (4.47%)
TOMCL 35.58 Decreased By ▼ -0.09 (-0.25%)
TPLP 8.14 Increased By ▲ 0.23 (2.91%)
TREET 16.51 Increased By ▲ 0.62 (3.9%)
TRG 53.35 Increased By ▲ 0.59 (1.12%)
UNITY 26.28 Decreased By ▼ -0.27 (-1.02%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 9,889 Decreased By -31.1 (-0.31%)
BR30 30,611 Decreased By -140.9 (-0.46%)
KSE100 93,355 Increased By 130.9 (0.14%)
KSE30 28,931 Increased By 46 (0.16%)

After days of decline, Pakistan's rupee hit back with a significant gain against the US dollar, appreciating 0.41% in the inter-bank market on Thursday.

As per the State Bank of Pakistan (SBP), the PKR closed at 177.51 against the USD after a day-on-day appreciation of 73 paisas or 0.41%. Just a day ago, the PKR had closed at its all-time record low of 178.24 against the USD.

“This is the highest recovery after 31 sessions,” said Arif Habib Limited (AHL) in a research note.

Cumulatively, the rupee has depreciated nearly 10% CYTD, 11.25% FYTD, and 14.22% since its CY21’s high achieved on May 14 against the US dollar.

The currency has been under pressure due to a bulging import bill that has been worsened due to higher commodity prices in the international market.

Against USD: Pakistan's rupee drops to record low

“As we approach the year-end, there is nothing much to talk about the rupee, as the corporate sector has squared their books,” Asad Rizvi, Ex-Treasury Head at Chase Manhattan, tweeted.

Rizvi added that it is the year-end payments that make rupee vulnerable. “However, to manage cash flows, Rs/$ short-dated swaps will remain active in the inter-bank market,” he said.

Internationally, dollar rose against major rival currencies in holiday-thinned trading on Thursday.

The dollar index, which measures the greenback against major peers, rose 0.39% to 96.19 after the S&P 500 and the Dow Jones Industrial Average stock indexes closed at all-time highs on Wednesday, the latter rising for a sixth session.

Inter-bank market rates for dollar on Thursday

BID Rs 177.25

OFFER Rs 177.35

Open-market movement

In the open market, the PKR gained 80 paisas for both buying and selling against USD, closing at 179 and 179.50, respectively.

Against Euro, the PKR gained 50 paisas for buying while remaining unchanged for selling, closing at 200 and 202, respectively.

Against UAE Dirham, the PKR gained 40 paisas for buying and 30 paisas for selling, closing at 50.30 and 50.80, respectively.

Against Saudi Riyal, the PKR gained 40 paisas for both buying and selling, closing at 46.60 and 47, respectively.

Open-market rates for dollar on Thursday

BID Rs 179

OFFER Rs 179.50

Comments

Comments are closed.

Shakeel ahmes Dec 31, 2021 02:44pm
Mojuda govt nakam
thumb_up Recommended (0)