Pakistani Rupee rises further against US dollar in open and interbank Markets

[Zibago]

2 Feb, 2020
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KARACHI: The Pakistani rupee gained 36 paisa to settle at Rs154.48 against the US dollar in the interbank market during the month of January, ARY News reported.

According to foreign currency dealers, the local unit ended at a seven-month high of 154.48 against the greenback last month.


Prime Minister Imran Khan high profile foreign visit schedule revealed
In the open market, the rupee appreciated by 50 paisa to clock in at Rs154.50 against the dollar from Rs155.

The rupee remained stable against the dollar due to a number of factors, including the rising exchange reserves of the country and sluggish dollar demand.

PM Imran Khan lays foundation stone of State of Madina
Foreign exchange reserves of the State Bank of Pakistan (SBP) increased by $184 million to $11.915 billion during the week ended on Jan 24.

According to the SBP’s weekly figures released on Thursday, the country’s foreign exchange reserves increased by $91m to $18.362bn during the same period. However, the commercial bank reserves fell during the week falling by $92m to $6.447bn.
https://timesofislamabad.com/02-Feb...ObReoK4G_5MIKtlAVwSRd9FJ8xHWVzUApsTW1E_TDRiwg

 

[GHALIB]

2 Feb, 2020
[/paste:font]


SHARES

• 
  

KARACHI: The Pakistani rupee gained 36 paisa to settle at Rs154.48 against the US dollar in the interbank market during the month of January, ARY News reported.

According to foreign currency dealers, the local unit ended at a seven-month high of 154.48 against the greenback last month.


Prime Minister Imran Khan high profile foreign visit schedule revealed
In the open market, the rupee appreciated by 50 paisa to clock in at Rs154.50 against the dollar from Rs155.

The rupee remained stable against the dollar due to a number of factors, including the rising exchange reserves of the country and sluggish dollar demand.

PM Imran Khan lays foundation stone of State of Madina
Foreign exchange reserves of the State Bank of Pakistan (SBP) increased by $184 million to $11.915 billion during the week ended on Jan 24.

According to the SBP’s weekly figures released on Thursday, the country’s foreign exchange reserves increased by $91m to $18.362bn during the same period. However, the commercial bank reserves fell during the week falling by $92m to $6.447bn.
https://timesofislamabad.com/02-Feb...ObReoK4G_5MIKtlAVwSRd9FJ8xHWVzUApsTW1E_TDRiwg

very good , hope it gets better .

 

[ARMalik]

@Rasengan @ps3linux .. Looks like you were Spot on about the Hedge Funds and then the Rupee actually 'Appreciating'. This is just so F* up. IK government doing a Nawaz Sharif style corruption to the people of Pakistan.

Also, @blueazure ... this would be interesting for you.

 

[newb3e]

@Rasengan @ps3linux .. Looks like you were Spot on about the Hedge Funds and then the Rupee actually 'Appreciating'. This is just so F* up. IK government doing a Nawaz Sharif style corruption to the people of Pakistan.

Also, @blueazure ... this would be interesting for you.

is current govt also taking loans and managing dollar supply to control rates like dollar dar?

 

[Yaseen1]

many Pro govt journalists were claiming few months ago that in January rupee will rise to 145 against dollar so I think still that target is not achieved yet and February has come

 

[crankthatskunk]

@Rasengan @ps3linux .. Looks like you were Spot on about the Hedge Funds and then the Rupee actually 'Appreciating'. This is just so F* up. IK government doing a Nawaz Sharif style corruption to the people of Pakistan.

Also, @blueazure ... this would be interesting for you.

Care to explain what corruption IK government is doing like Sharifs!!

 

[Haris Ali2140]

is current govt also taking loans and managing dollar supply to control rates like dollar dar?

If we go by the words of the article. It is saying that the rate of dollar is being determined by its demand in open market not Govt.

 

[newb3e]

If we go by the words of the article. It is saying that the rate of dollar is being determined by its demand in open market not Govt.

that was my understanding but malik sabh is of the opinion that currently govt fooling us like last govt if true our country is fked!

 

[aasimanwaar]

many Pro govt journalists were claiming few months ago that in January rupee will rise to 145 against dollar so I think still that target is not achieved yet and February has come

And IMF predicted it will fall to 175 till the end of financial year. Even This not seem happening.

 

[Yaseen1]

imf predicted that fall before govt approached to imf bailout but after imf bailout they predicted rupee stability

And IMF predicted it will fall to 175 till the end of financial year. Even This not seem happening.

 

[Longhorn]

that was my understanding but malik sabh is of the opinion that currently govt fooling us like last govt if true our country is fked!

I wonder if Malik Sahb is a patwari.
That would explain it.

 

[newb3e]

I wonder if Malik Sahb is a patwari.
That would explain it.

sir labeling wont help our country! if he can back his cliam with facts then we shpuld be worried about our future

 

[Haris Ali2140]

that was my understanding but malik sabh is of the opinion that currently govt fooling us like last govt if true our country is fked!

Lets wait for someone with more sense of economics to comment.

 

[Longhorn]

sir labeling wont help our country! if he can back his cliam with facts then we shpuld be worried about our future

I agree.
I didn't see any facts though.
Have a chat with him and see if he can back his statement up.
Let's see what he has to say.

 

[Zibago]

many Pro govt journalists were claiming few months ago that in January rupee will rise to 145 against dollar so I think still that target is not achieved yet and February has come

The appreciation now will be mainly determined by open market not by heavy government intervention