Rupee Starts Falling Against the US Dollar Again
The Pakistani Rupee (PKR) resumed its deterioration trend against the US Dollar (USD) today (Thursday, 10 June), and almost pierced the Rs. 156 exchange rate boundary.
It closed at Rs. 155.91 against the USD at the end of the trading day today, down by 22 paisas as compared to Rs. 155.69 to the USD yesterday (Wednesday, 9 June).
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On the first two days of the current week, the PKR had posted significant losses of 70 paisas and 47 paisas, respectively. Yesterday it had posted an improvement of nine paisas.
Regarding the recent downfall of the PKR, the Managing Director of Khadim Ali Shah Bukhari Securities, A. A. H. Soomro, told ProPakistani that the “pressure on the currency is stemming as the economy opens up, imports grow faster than the exports & REER at 103”.
Jun 9, 2021
KARACHI: The Pakistani rupee posted minor gains against the United States (US) dollar as it appreciated nine paisas in the inter-bank currency market on Wednesday.
The local unit finished at Rs155.69 against the greenback, registering appreciation of nine paisas over previous close of Rs155.78, according to the State Bank of Pakistan (SBP).
Several of those 'missing' are suspected to have joined terror groups. The trend in recruitment numbers is 'around the same as 2020' and is being seen as a cause for worry.
Rupee Finally Stabilizes After 2 Days of Huge Losses Against the US Dollar
The tide finally turned against the US Dollar (USD) for the Pakistani Rupee (PKR) on Wednesday as it posted an improvement in the interbank market.
The rupee closed at Rs. 155.69 against the US Dollar at the end of the trading day today (Wednesday, 9 June), up by nine paisas as compared to Rs. 155.78 to the USD yesterday (Tuesday, 8 June).
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On the first two days of the current week, the PKR had posted significant losses of 70 paisas and 47 paisas, respectively. In the past month – since May 7 – the PKR had depreciated by Rs. 3.11 against the USD, and also crossed the boundary of the Rs. 155 exchange rate on Monday for the first time since 25 March 2021.
<p>The Dubai Gold and Commodities Exchange (DGCX),<b> </b>the region’s leading derivatives exchange, today announced that it registered a monthly Average Open Interest (AOI) of <b>208,343</b> contracts during the month of May, worth a total value of USD <b>12,853</b><b> </b><b>million</b>.</p>