- Earlier on Monday, the rupee ended barely weaker towards the greenback within the interbank foreign money market.
- The rupee fell in its worth towards the greenback on account of elevated demand for the buck for import funds, the sellers mentioned.
- In addition they projected the financial system to develop at 1.5-2.5% for the present fiscal yr.
KARACHI: The shopping for fee of the US greenback was Rs160, whereas its promoting fee was Rs160.8 on Tuesday, January 12 on the opening of Pakistan’s foreign money market.
Earlier on Monday, the rupee ended barely weaker towards the greenback within the interbank foreign money market, sellers mentioned.
It closed at 160.39 per greenback, in contrast with the earlier shut of 160.17. Within the open market, the rupee ended at 160.40 versus the buck. It had settled at 160.30 on Friday.
“The rupee fell in its value against the dollar due to increased demand for the greenback for import payments. The demand usually goes up when the market opens after the weekend,” a international trade supplier mentioned.
“Trading range for the week is expected to be 160 to 160.50 per dollar,” he added. Most sellers anticipate the native unit to remain range-bound within the coming periods.
Learn extra: US greenback being bought at Rs160.2 on January 11
In the meantime, the next are the charges of the US Greenback, Saudi Riyal, UK Pound, the UAE’s Dirham, and different foreign currency within the open market at this time.
The data has been obtained from the Foreign exchange Affiliation of Pakistan.
|UK Pound Sterling||214.7||217.5|