The exchange rate of US Dollar Tuesday has reduced on the second day of the trading week in the interbank market. According to the data released by the State Bank of Pakistan, the US dollar has decreased by 18 paisas in the interbank market.
According to Forex dealers, the dollar depreciated from Rs158.89 to close at Rs159.07 in the interbank market.
Whereas the buying rate of the US dollar was Rs158.8, while its selling rate was Rs159.5 in the open market.
The sentiment was cautious ahead of the meeting of the Financial Action Task Force (FATF) which is being held in Paris to review Pakistan’s progress and decide about its fate regarding the grey list.
Interbank closing #ExchangeRate for today: https://t.co/vWFIBJ5I9C pic.twitter.com/ArhewXoplO
— SBP (@StateBank_Pak) February 23, 2021
“We expect the rupee to stay stable with a slight weakness in the coming sessions,” a currency dealer said. “The month-end dollar demand from importers could put some pressure on the domestic currency.”
The traders believe the rupee to hold a stable trend at Rs159/dollar-mark as remittances are growing and exports have picked up.
Bob Weir, Grateful Dead co-founder and rhythm guitarist, dead at 78
- 7 hours ago
Pakistan reiterates support for Somalia's sovereignty, integrity
- 5 hours ago
Want closer friendships? Find your “strawberry people”
- a day ago
Foreign remittances hit record high of $3.6bn in December
- 9 hours ago
Preparing youth for digital economy: inside Pakistan’s wealth university
- 9 hours ago
Mainly cold, dry weather expected in most parts: Met Office
- 9 hours ago
Iran warns Washington it will retaliate against any attack
- 9 hours ago
Forensic report confirms presence of CM Sohail Afridi in May 9 incidents
- 11 hours ago
How the US shut the door on asylum-seekers
- a day ago
Bangladesh players act normal despite controversies, says Shanto
- 7 hours ago
Pakistan Navy ships visit Port Sultan Qaboos
- 9 hours ago
Islamabad: Cylinder blast in wedding house leaves eight dead, 11 hurt
- 8 hours ago
