Dollar loses another 98 paisa against rupee - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
The local currency – Pula depreciated by 0.9 percent against its South African counterpart – the Rand over the one-month period to February 2021.
Data from the central bank – Bank of Botswana shows that during the same period, the local currency appreciated by 0.3 percent against the IMF Special Drawing Rights (SDR).
A further breakdown of the figures shows that the Pula recorded a mixed performance against the SDR constituent currencies. It appreciated by 2.1 percent against the Japanese yen and 0.5 percent against both the US dollar and the Chinese yuan, while it depreciated by 1.3 percent against British pound, and remained relatively stable against the euro.
Currency update: Pakistani rupee may strengthen further in coming week
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Dealers expect that the rupee is likely to strengthen further in the following week.
Highest in a year, the Pakistani rupee staged a strong rally touching 156.85 in the intraday trade on Friday.
Last week, the country’s foreign exchange reserves also rose to $20.133 billion.
KARACHI: Given the inflows from remittances and increased deposits into the Roshan Digital Accounts as well as the dollars earned by exporters, dealers expect that the rupee is likely to strengthen further in the following week,
The Pakistani rupee registered a strong performance by touching the 156.85 mark in the intraday trade on Friday. However, it closed at 157.12/dollar in the interbank market.
Rupee may strengthen further
March 7, 2021
KARACHI: The rupee is likely to strengthen further against the dollar in the coming week, owing to inflows from remittances, Roshan Digital Account, and greenback selling from exporters, outweighing demand from importers.
The local unit staged a strong rally touching 156.85 in the intraday trade on Friday, the highest in a year. It closed at 157.12/dollar in the interbank market. Last year, it had closed at 154.30, but then started to lose value, as the pandemic-related lockdowns started, which weakened the rupee to 169 against the dollar.
âWe expect a sustained bullish rupee in the face of comparatively weaker demand for the dollar, amid sufficient supplies,â a foreign exchange dealer said on Saturday.
Rupee may strengthen further thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.