KARACHI: July 27, 2023: The rupee made another major gain against US currency in interbank and open market today (Thursday).
After taking hit for many consecutive sessions both in interbank and open market, PKR had bounced back early this week when it got considerable value against US dollar.
In the first session in interbank, PKR made gain of Rs 1.50 against US currency today.
Rescheduling of $ 2.1O billion by China and permission of import of cash US dollar by the central bank of Pakistan have basically helped Pakistan currency hold ground against US dollar and other major currencies.
China had formally approved rolling over of $ 2.10 billion loan for Pakistan for two years on the same terms and conditions. China’s great step will ease payments pressure on Pakistan and help its economy absorb some shocks in the future.
With another appreciation of PKR of Rs 1.50 in interbank, USD-PKR parity lowered to Rs 286.25 (buying) and Rs 286.50 (selling) at the closing of the first session today.
In open market PKR appreciated by Rs 1. In open market US dollar is trading at Rs 288.00 (buying) and Rs 291.00 (selling) respectively.
The data released by All Pakistan Currency Dealers (APCDA) suggests that other major currencies like Saudi Riyal, United Arab Emirate (UAE), Euro, Pound Sterling are also showing downward trend in the local currency market. Saudi Riyal is trading at Rs 76.20 (buying) and Rs 77.00 (selling) respectively. UAE dirham is trading at Rs 79.20 (buying) and Rs 80.00 (selling).
EURO is trading at Rs 318.00 (buying) and Rs 322.00 (selling) respectively. Pound Sterling rate in local currency market today is Rs 370.00 (buying) and Rs 374.00 (selling). AUD is trading at Rs 198.00 (buying) and Rs 200.00 (selling). CAD is trading at Rs 218.00 (buying) and Rs 222.00 (selling). Chinese Yuan is trading at Rs 42.00 (buying) and Rs 44.00 (selling) respectively.