AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

Pakistan’s rupee ended the first session of the year with a marginal loss against the US dollar, depreciating for the tenth consecutive time in the inter-bank market on Monday.

As per the State Bank of Pakistan (SBP), the rupee closed at 226.94 after a fall of Re0.51 or 0.22% against the greenback.

Rupee ends last session of 2022 on a losing note against US dollar

During the previous week, the rupee registered a cumulative depreciation of 0.35% against the US dollar in the inter-bank market. The local currency closed at 226.43 against the greenback, taking total depreciation to 22% during 2022.

In a key development, the National Security Committee (NSC) on Monday agreed on undertaking concrete steps including import rationalisation as well as preventing illegal currency outflows and Hawala business.

Meanwhile, the Consumer Price Index (CPI)-based inflation clocked in at 24.5% in December on a year-on-year (YoY) basis, showed data released by the Pakistan Bureau of Statistics (PBS) on Monday.

Internationally, the US dollar eased on Tuesday as investors awaited the minutes from the last U.S. Federal Reserve policy meeting, and the yen was its strongest in six months amid speculation that the Bank of Japan might move away from its ultra-easy policy.

The dollar index, which measures the greenback against six major currencies, has made a subdued start to 2023 and was last down 0.096% at 103.540. The dollar index rose 8% last year in its biggest annual jump since 2015 on the back of the Fed raising interest rates to tackle inflation.

Investor attention this week is fixed on the minutes of the Fed's December policymaking meeting, which are due to be released on Wednesday, with traders looking for clues to what rate path is likely to be taken in 2023.

Oil prices, a key indicator of currency parity, held in a narrow range on Tuesday, though the outlook for demand was clouded by a weak manufacturing activity survey from China, and a warning from the head of the International Monetary Fund that the global economy faced a tough year ahead.

Inter-bank market rates for dollar on Tuesday

BID Rs 226.95

OFFER Rs 227.95

Open-market movement

In the open market, the PKR lost 50 paisas for both buying and selling against USD, closing at 233.75 and 236, respectively.

Against Euro, the PKR lost 50 paisas for both buying and selling, closing at 263 and 265 respectively.

Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 68.50 and 69, respectively.

Against Saudi Riyal, the PKR lost 60 paisas for both buying and selling, closing at 66 and 66.50, respectively.

Open-market rates for dollar on Tuesday

BID Rs 233.75

OFFER Rs 236

Comments

Comments are closed.