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US greenback being bought at Rs160.7 on Jan 16

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  • The shopping for charge of the US greenback was Rs160, whereas its promoting charge was Rs160.7
  • On Friday, the rupee ended marginally decrease resulting from improve in demand of greenback
  • Sellers anticipate dollar to stay between Rs160.25 to Rs160.75 in upcoming week

KARACHI: The shopping for charge of the US greenback was Rs160, whereas its promoting charge was Rs160.7 on Saturday, January 16.

On Friday, the rupee ended decrease, as elevated greenback demand from importers for funds weighed on the native unit, sellers stated.

Within the open market, the rupee ended at 160.40 in opposition to the greenback. The rupee had settled at 160.30 within the earlier session.

“There was a sudden demand from importers and the corporate sector that put pressure on the rupee,” a international trade dealer with a industrial financial institution stated.

“Though, the rupee didn’t breach the 160-160.50 range forecasted for this week, we were expecting it would close stronger at the weekend,” one other dealer stated.

“We can expect the rupee to trade in the current ranges next week, but the demand for the rupee could catch up further if there are any payments in the market,” he added. The rupee is more likely to hover within the band of 160.25 to 160.75 within the coming week, they stated.

In the meantime, the next are the charges of the US Greenback, Saudi Riyal, UK Pound, the UAE’s Dirham, and different foreign exchange within the open market as we speak.

The data has been obtained from the Foreign exchange Affiliation of Pakistan.

Forex Shopping for Promoting
Australian Greenback 123 125
Canadian Greenback 124 126.5
China Yuan 24.85 25
Euro 194 196.5
Japanese Yen 1.55 1.58
Saudi Riyal 42.5 43
UAE Dirham 43.7 44.3
UK Pound Sterling 216.5 219.5
US Greenback 160 160.7

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