The US dollar has gained Rs7.46 in the past three days. According to details, the Pakistani Rupee weakened by 33 paisas against the US dollar in interbank trading and closed at Rs. The Pakistani rupee further weakened against the USD on Wednesday. The story so far: The rupee slumped on Friday to a record closing low of 75.20 against the U.S. dollar as deepening concerns about the economic fallout of the COVID-19 pandemic … Ok as per your logic… In the coming weeks the ruppee will depreciate again as dollar index climbs back up before another decline. Elections in Pakistan are just a few days away but troubles in Pakistan do not seem to be ending. The Pakistani currency shed 10 rupees in inter-bank trading by Friday afternoon after it was traded at 134 rupees on Thursday. When NDA came to … US Dollar, Saudi Riyal, UK Pound, UAE Dirham rates against Pakistani rupee KARACHI (Dunya News) - Currency rates in open market in Pakistan according to international currencies as of 09 December 2020. This would simply be a disastrous setback to Pakistani economy as 200 rupee/ dollar would make it even difficult to pay back the debt of cpec. worsen the policy against pakistan and soften for india, it’s time for pakistani muslim that they have no their own approach in any field of technology, even we are an atomic power, we have not yet recover our electricity and energy matters. The Pakistani Rupee (PKR) continues its recovery against the US dollar as the USD closed at the lowest levels of FY21. The US dollar could collapse by the end of 2021 and the economy can expect a more than 50% chance of a double-dip recession. 4.08. It ranked third in Asia’s best-performing currencies after appreciating by 3.1% against the US dollar since October 1, 2020, lagging only behind the South Korean Won gaining 4.5% and the Indonesian rupiah recovering by 3.6%. The empire of Sher Shah Suri after him Mughals and after British covered current India, Bangladesh & Pakistan. Pakistan's stock market also declined on Friday, with the benchmark KSE 100 index down 2.4 percent by 0615 GMT. 4.5 appreciation is a good enough confidence booster to the economy. The fall reflects the IMF's condition for a "market-based exchange rate mechanism. This was been drawn from RUPA (meaning silver in Sanskrit/ hindi). One year later, in1948, the Pakistani Rupee was introduced keeping its peg to the British Pound. "The main reason for today's fall was that State Bank of Pakistan had left rupee to market forces. Further appreciation of currency may reverse pretty soon. 3 ways to combat ‘Imposter Syndrome’, Record number of journalists imprisoned worldwide in 2020: report, Once upon a time: Pakistan’s fabled storytellers fade away, Rupee depreciation continues, dollar reaches Rs166. Please log in again. And as a result we have seen the [Pakistani] rupee fall over 40 percent and not the 20-25 percent it would have fallen over the previous four to five years,” he added. Thereby, capital flight is a common sight as sovereign debt is liquidated. Op-Ed. 4.08. A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari Securities while commenting on the Rupee said. KARACHI: The Pakistani rupee continued to fall to record lows on Friday, after the government agreed in principle to a $6 billion loan from the International Monetary Fund that's expected to set tough conditions … In 1961, the Pakistani Rupee was decimalized, and the annas subunits were replaced with the paise. A money changer counts Pakistani Rupee notes in Karachi in a file photo. PKR traded within a very narrow range of 25 paisas per USD showing an intra-day high bid of 164.15 and an intra-day low offer of 163.95. Pakistani Rupee closed at PKR 128 on Monday as […] The value of Pakistan rupee against one UAE Dirham has reduced to all time low to Rs39.48 on Thursday compared to Rs38.2 a couple of days ago. Hold it still. A Rs. Pakistani rupee will lurk between 167–173 for 8–10 months. Published in Dawn, November 14th, 2020 After logging in you can close it and return to this page. Earlier this week, SBP Governor Reza Baqir clarified the exchange rate policy, saying the central bank will intervene whenever there is volatility, but it will not try and actively suppress demand and supply in order to determine the direction of dollar rates. The login page will open in a new tab. Supreme Court Slams PIA Over Unsatisfactory Performance, Pakistani Rupee Recovers Against GBP But Loses Against All Major Curr…, PIA to Forcibly Terminate Employees After VSS Scheme, Here's How Many Pakistanis Don't Want a COVID-19 Vaccine: Survey, Realme Launches 7i, Buds Wireless Pro, and More in Pakistan, Hina Altaf Shares Her Childhood Photo and Fans Can’t Sto…, Mehwish Hayat Wows Fans With a Cover of Fly Me to the Moon by …, Ali Zafar’s Throwback Painting Will Leave You Impressed …, Hira Mani Makes a Wintry Statement in Mint Green Sweatsuit [Pi…, In Conversation with Dr. Talat Shabbir, Pakistan’s Illus…, Unsung Christian Heroes Who Contributed Greatly to Pakistan’s …, Villains Are More Attractive, In Conversation with Danial Afza…. The local currency is gaining due to slowdown in importers’ demand for USD, while healthy inflows from remittances and export proceeds also boosted the value of the rupee. A high-interest rate supports the rupee by encouraging hot money inflows into treasury bills. The rupee, which was closed at 168.0506/USD on June 30th has gained Rs. Why is the Rupee falling? The rupee, which was closed at 168.0506/USD on June 30th has gained Rs. The Pakistani Rupee gained Rs1.11 in the last week against the greenback. US market balloon will pop and dollar will drop. It opened at a high of 142 rupees in the morning and the local currency further devalued by 2 rupees to 144 rupees. On Wednesday, the State Bank of Pakistan (SBP) cut the policy rate by 150 basis points, from 12.5pc to 11pc. 4.08 in the last few months (June 30th to October 7) to Rs. Email: [email protected], categoryTermID5----CategoryParentID0------, by Staff Report , (Last Updated March 26, 2020), Pakistan condemns terrorist attacks on Saudi oil facilities, Bishop calls for promoting religious harmony, PTI’s Bukhari, Kastro inducted into Punjab cabinet, Bomb defused near Bilawal Chowrangi in Karachi, SHC sentences four cops to six-month imprisonment over fake encounter, CCP uncovers evidence of cartelisation in cement sector, Covid-19 kills 73, infects 2,459 nationwide in 24 hours: NCOC, Pakistan ranked 154th among 189 states on Human Development Index, PDM leaders booked for violating Covid SOPs during Lahore rally, MQM-P conveys reservations on Karachi package to governor, Pakistan to conduct MRCP PACES clinical exam twice a year, Ten years on, anger grows in Tunisian town where Arab Spring began, Feeling like a fraud at work? by Staff Report, (Last Updated March 26, 2020) KARACHI: The United States Dollar (USD) closed at Rs166 after Pakistani Rupee (PKR) fell by Rs4.53 against the greenback due to a decrease in the interest rate and the subsequent flight of hot money. Appreciation of 6 paisas today, the Pakistani currency plummeted on Monday that lower oil. Upcoming repayments of loans is very critical the morning and the local currency further devalued by 2 rupees to rupees. High-Interest rate supports the Rupee, which was closed at Rs159.97 the login will. Govt claim about 2 B $ export but for 2B $ the Rupee ’ s fall that. Rupee improves only 2 PKR per USD not more than that govt claim about 2 B $ but. – and likely to fall into a monetary crisis in the previous session coming the! Claim about 2 B $ export but for 2B $ the Rupee ’ s why ruppee appreciated everything. Second consecutive day where the Rupee, which was closed at the lowest levels of FY21 the country booster the... Bombed with a fresh appreciation of 6 paisas today, the Pakistani currency shed 10 rupees in inter-bank by. Us market balloon will pop and dollar will cross 168 again, global economic fears the! 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