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US greenback offered at Rs160.7 on January 18

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The shopping for price of the US greenback was Rs160, whereas its promoting price was Rs160.7 on Monday. Picture: STOCK IMAGE
  • The shopping for price of the US greenback was Rs160, whereas its promoting price was Rs160.7 on Monday.
  • Pakistani rupee will seemingly stay steady or marginally weaken in opposition to the US greenback this week.
  • A overseas trade dealer mentioned the native unit is predicted to observe a range-bound buying and selling sample this week.

KARACHI: The shopping for price of the US greenback was Rs160, whereas its promoting price was Rs160.7 on Monday, January 18 on the opening of Pakistan’s forex market.

Pakistani rupee will seemingly stay steady or marginally weaken in opposition to the US greenback this week as demand for the exhausting forex from importers will increase.

A overseas trade dealer mentioned the native unit is predicted to observe a range-bound buying and selling sample for this week. “However, any uptick in the US dollar demand for import payment, especially oil, could hamper the rupee’s stability.”

One other dealer mentioned the native unit might commerce on the backfoot to the greenback within the coming classes if an anticipated demand for the {dollars} emerges available in the market and provides diminish. “The next range should be between Rs160.25 and Rs160.75,” he added.

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 in the present day.

Learn extra: Financial outlook: Rupee to stay steady in opposition to US greenback in week beginning Jan 18

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

Foreign money Shopping for Promoting
Australian Greenback 123 125
Canadian Greenback 124  126.5
Euro 194  196.5
Japanese Yen 1.55  1.58 
China Yuan 24.85  25
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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