Rupee Gains Against the US Dollar Third Day in Row
Today, PKR appreciated by 16 paisas against the greenback in the interbank currency market.
According to the investment analytics platform Capital Stake, PKR traded in the range of Rs. 153.40 to Rs. 153.92, before closing at Rs. 153.45 to the USD at the end of the trading day today (Friday, 30 April). This is as compared to Rs. 153.61 to the USD on Thursday (29 April).
A foreign exchange dealer yesterday said that even though the demand for the USD was lower, “the supplies were healthy due to strong remittances from overseas Pakistani workers in the holy month of Ramazan.”
Rupee Gains Against the US Dollar Thanks to Relief from Japan
The Pakistan Rupee (PKR) changed tide against the US Dollar (USD) yesterday in the currency market after seven consecutive days of losses. Today, PKR continued its upward movement and appreciated by 26 paisas against the greenback.
PKR closed at Rs. 153.61 to the USD at the end of the trading day today (Thursday, 29 April) compared to Rs. 153.87 to the USD on Wednesday (28 April).
ALSO READ
A foreign exchange dealer said, “Today, the demand was lower, but the supplies were healthy due to strong remittances from overseas Pakistani workers in the holy month of Ramazan.”
United Alpha Price Increased
United Motors introduced its 1000cc hatchback Alpha in January 2021. Priced initially at PKR 1,395,000, this base level hatchback did not impress many in the market. While some experts talked about the compromising quality of the car, others believed that the car may only impress a limited audience. However, despite the uncertain progress of the United Alpha hatchback in Pakistan, the company has now come up with a notification for the fans. United Alpha price increased now by PKR 50,000. In the light of this notification, the new price of United Alpha is PKR 1,445,000.
Reason For Increasing Price
United Motors has not given any particular reason for increasing the price of the 1000cc hatchback. Many people are raising questions about the success and resale market value of Alpha. While this may be true, we should not forget that the Pakistani Rupee has appreciated almost 4% against the US dollar over the past few months.
Rupee Drops to Another Low Against US Dollar as Rapid Depreciation Continues
The Pakistan Rupee (PKR) continued its downward movement against the US Dollar (USD) in the currency market from the entire previous week to the opening day of the current week.
The PKR deteriorated by 26 paisas in the interbank currency market against the greenback today, crossing the Rs. 154 barrier.
It closed at Rs. 154.13 to the USD at the end of the trading day today (Monday, 26 April) as compared to Rs. 153.87 to the USD on Friday (23 April).
ALSO READ
Analysts believe that amid the higher dollar demand from importers, the local unit is likely to remain under pressure because of import payments. They added that the PKR had lost ground despite the rising remittances from overseas Pakistanis during the holy month of Ramazan.
Rupee Suffers Another Huge Loss Against Most Major Currencies propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.