17 C
Lahore
Friday, April 23, 2021

Opening charges of US greenback towards rupee on January 6

Must read

Megan Thee Stallion shocks followers by saying to take hiatus from music

It's time for Megan Thee Stallion to unplug and recharge because the Savage hitmaker introduced she will likely be taking a hiatus from...

‘Peace in Afghanistan means peace in Pakistan,’ reiterates Gen Bajwa in assembly with Afghan envoy

Afghan Ambassador to Pakistan Najibullah Ali Khil (left) and Chief of Military Workers (COAS) Basic Qamar Javed Bajwa maintain a gathering on the GHQ. —...

Justice Isa case: Justice Maqbool Baqar leaves courtroom after row with judges

Throughout the listening to of Justice Qazi Faez Isa's case on Thursday, a row broke out between the judges of the Supreme Court docket...

India utilizing Afghan soil to hold out terrorism in Balochistan, says President Alvi

President Arif Alvi. Picture: Screengrab of Vice Information. "I don't have the right to say something which, under the garb of freedom of speech, injures...

The shopping for price of the US greenback was Rs160 whereas its promoting price was Rs160.8. Photograph: Geo. television/File 
  • On Tuesday, the rupee weakened for the second straight session as a consequence of continued demand for the exhausting foreign money from importers.
  • The rupee ended decrease at 160.45 towards the greenback within the open market within the earlier buying and selling session.
  • Analysts see the rupee to stay secure with slight depreciation towards the greenback in 2021.

KARACHI: The shopping for price of the US greenback was Rs160 whereas its promoting price was Rs160.8 on Wednesday, January 6 on the opening of Pakistan’s foreign money market.

On Tuesday, the rupee weakened for the second straight session as a consequence of continued demand for the exhausting foreign money from importers.

Within the interbank market, the rupee closed at 160.33 towards the greenback, in contrast with Monday’s opening of 159.98. The home foreign money fell 0.22 p.c through the day.

The rupee ended decrease at 160.45 towards the greenback within the open market. It had settled at 160.45 within the earlier commerce.

“There was a dollar demand today, and we didn’t see exporters selling dollars in the market. The rupee was under pressure due to weak supplies,” a foreign money supplier stated.

“We expect the rupee to trade in the range-bound manner in the coming days on the back of sluggish demand from importers and the corporates. Payments seem to have been covered in the first trading sessions of this week.”

Learn extra: US greenback being offered at Rs160.8 on January 5

Analysts see the rupee to stay secure with slight depreciation towards the greenback in 2021.

Wholesome remittances, an encouraging begin of the Roshan Digital Initiative, and elevated progress in exports in latest months will hold the rupee secure this yr. The actual efficient change price is beneath 100 and exhibiting that the native foreign money is at the moment undervalued.

In the meantime, the next had been the charges of the US Greenback, Saudi Riyal, UK Pound, the UAE’s Dirham, and different foreign currency within the open market.

Foreign money Shopping for Promoting
Australian Greenback 121.5  123.5 
Canadian Greenback 124  126.5 
Euro 194 196.5
Saudi Riyal 42.35 43
Japanese Yen 1.55 1.58
China Yuan 24.5 24.65 
UAE Dirham 43.5  44.2
UK Pound Sterling 215  218 
US Greenback 160 160.8

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Megan Thee Stallion shocks followers by saying to take hiatus from music

It's time for Megan Thee Stallion to unplug and recharge because the Savage hitmaker introduced she will likely be taking a hiatus from...

‘Peace in Afghanistan means peace in Pakistan,’ reiterates Gen Bajwa in assembly with Afghan envoy

Afghan Ambassador to Pakistan Najibullah Ali Khil (left) and Chief of Military Workers (COAS) Basic Qamar Javed Bajwa maintain a gathering on the GHQ. —...

Justice Isa case: Justice Maqbool Baqar leaves courtroom after row with judges

Throughout the listening to of Justice Qazi Faez Isa's case on Thursday, a row broke out between the judges of the Supreme Court docket...

India utilizing Afghan soil to hold out terrorism in Balochistan, says President Alvi

President Arif Alvi. Picture: Screengrab of Vice Information. "I don't have the right to say something which, under the garb of freedom of speech, injures...

#ImranKhanCancelEXAMS tendencies in Pakistan as college students cite COVID fears

College students throughout Pakistan have taken to Twitter to protest the choice by the Pakistan authorities and the Cambridge Worldwide Examinations to carry exams...