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Tuesday, March 9, 2021

US greenback traded at Rs159.6 on Feb 23

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The shopping for price of the US greenback was Rs158.9, whereas its promoting price was Rs159.6 on Tuesday. STOCK IMAGE
  • The shopping for price of the US greenback was Rs158.9, whereas its promoting price was Rs159.6 on Tuesday
  • The sentiment was cautious forward of the assembly of the Monetary Motion Process Drive
  • “We expect the rupee to stay stable with a slight weakness in the coming sessions,” says a foreign money supplier

KARACHI: The shopping for price of the US greenback was Rs158.9, whereas its promoting price was Rs159.6 on Tuesday, February 23 within the open market.

The sentiment was cautious forward of the assembly of the Monetary Motion Process Drive (FATF) in accordance with a The Information report which is being held in Paris (Feb 22-25) to evaluation Pakistan’s progress and resolve about its destiny relating to the gray record.

“We expect the rupee to stay stable with a slight weakness in the coming sessions,” a foreign money supplier mentioned.

Learn extra: US greenback price in opposition to Pakistani rupee on Feb 22

“The month-end dollar demand from importers could put some pressure on the domestic currency.” 

The publication reported that merchants anticipate the rupee to carry a secure development, buying and selling at 159/dollar-mark within the near-term, as remittances are growing and exports have picked up.

Nonetheless, most merchants are involved by a continuous decline within the nation’s international trade reserves.

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.

The data has been obtained from Trade Firms Affiliation Pakistan.

Foreign money Shopping for Promoting
US Greenback 159.15 159.40
Saudi Riyal 42.20 42.40
Euro 191.50 193.00
Japanese Yen 1.48 1.51
UAE Dirham 43.25 43.45
UK Pound Sterling 221.50 223.0

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