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US greenback being bought in Pakistan for Rs157.5 on March 15

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The shopping for fee of the US greenback was 156.9. Reuters/File
  • The shopping for fee of the US greenback was 156.9, whereas it was bought at 157.5 on Monday.
  • In line with merchants, the insignificant greenback demand from importers, clean provide of the buck amongst different components stored the rupee secure through the previous week.
  • The sellers additionally mentioned that the market didn’t react to the election for the seat of chairman and deputy chairman of the Senate that occurred final week.

KARACHI: The shopping for fee of the US greenback was 156.9, whereas it was bought at 157.5 on Monday, March 15 on the opening of Pakistan’s forex market.

The supplier mentioned the insignificant greenback demand from importers, clean provide of the buck, sturdy remittances, and the elevated international trade reserves stored the rupee secure through the earlier week.

“There were some payments in the market but inflows were enough to meet them,” based on a forex supplier.

Learn extra: Weekly forex replace: Pakistani rupee anticipated to remain range-bound

The sellers additionally mentioned that the market didn’t react to the election for the seat of chairman and deputy chairman of the Senate that occurred final week.

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

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

Forex Shopping for Promoting
Australian Greenback 120 122
Canadian Greenback 123 125
Euro 185 186.5
Saudi Riyal 41.2 41.7
Japanese Yen 1.55  1.58 
China Yuan 24.25 24.4
UAE Dirham 42.2 42.7
UK Pound Sterling 219 222
US Greenback 156.9 157.5

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