Rupee Posts Blanket Gains Against All Major Currencies
Pakistani Rupee gained against all notable seven currencies in the interbank market today, recording the highest jump against the GBP with 99 paisas. This comes after a loss against most major currencies yesterday.
PKR gained 3 paisas against the greenback yesterday. However, PKR posted a gain of 27 paisas against the USD today. The fourth trading day of the first week of 2021 saw the PKR closing at Rs. 160.01 on Thursday (January 7) against the USD as compared to Rs. 160.29 on Wednesday.
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Against all other major currencies as well, PKR improved in the exchange rate on Thursday.
Pakistani Rupee Loses Ground Against Major Currencies Despite Stability Against US Dollar
After losing 14 paisas against the US Dollar on Monday and another 35 paisas on Tuesday, PKR finally managed to reverse the trend today with a minor gain of 3 paisas.
The third trading day of the first week of 2021 saw the Pakistani Rupee’s exchange rate slightly improve against the US Dollar, where PKR closed at Rs. 160.29 on Wednesday (January 6) against the USD as compared to Rs. 160.32 on Tuesday, which was down from 159.97 on Monday.
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Against all other major currencies, however, PKR deteriorated on Wednesday.
PKR lost 90 paisas to the Euro, 99 paisas to the GBP, approximately Rs. 1.2 to the Australian Dollar, and 80 paisas to the Canadian Dollar. The only other gain besides USD that the PKR saw in the interbank market today was against UAE Dirham and Saudi Riyal. PKR posted a negligible gain of less than a paisa gain against AED and 1 paisa against SAR.
Roshan Digital Accounts Receive Another $100 Million in Just 28 Days
Prime Minister Imran Khan took to Twitter to thank the overseas Pakistanis for their notable contributions to the Roshan Digital Account (RDA) as the deposit amount into the accounts crossed $200 million.
The PM wrote, “I want to thank our great asset, Overseas Pakistanis. MashaAllah funds sent by them through Roshan Digital Accounts created by SBP crossed $200 million yesterday. The pace is accelerating: first $100 million came in 76 days & the next $100 million came in only 28 days.”
I want to thank our great asset, Overseas Pakistanis. MashaAllah funds sent by them through #RoshanDigitalAccounts created by SBP crossed $200 mn yesterday. The pace is accelerating: first $100 mn came in 76 days & the next $100 mn came in only 28 days. https://t.co/sEe2wiOYrG
Pakistani Rupee Ends the Week With Another Huge Drop Against the GBP
The Pakistani Rupee held its ground for the third consecutive day against the US Dollar after witnessing a drop on Monday.
PKR closed with a gain of 22 paisas on Thursday against the greenback, piling up on the gain of 13 paisas yesterday and Tuesday’s gain of 3 paisas. PKR closed at Rs. 160.31 today (December 24) against the USD as compared to Rs. 160.54 on Wednesday.
However, this three-day recovery still falls short of the 62 paisas drop that the PKR experienced against the USD in the interbank market on Monday.
Against other major currencies, PKR lost 13 paisas to the Euro after posting a gain of 6 paisas yesterday. PKR also lost 45 paisas and 22 paisas to the Australian Dollar and Canadian Dollar, respectively. Against UAE Dirham and Saudi Riyal PKR’s exchange rate improved by 6 paisas each.
Pakistani Rupee Posts Minor Recovery Against the US Dollar and GBP
The Pakistani Rupee held its ground for the second consecutive day against the US Dollar after witnessing a drop on Monday.
PKR closed with a gain of 13 paisas to the greenback, piling up on yesterday’s gain of 3 paisas, trading at Rs. 160.54 against the USD on Wednesday (December 23) as compared to Rs. 160.67 on Tuesday
However, this two-day recovery still falls short of the 62 paisas drop that the PKR experienced against the USD in the interbank market on Monday.
Against other major currencies, PKR gained 6 paisas to the Euro after losing almost 12 paisas yesterday. Against the GBP, PKR reversed its losing streak by gaining 46 paisas to the GBP on Wednesday. This reversal comes after the notable loss of Rs 2.48 yesterday, which itself was a shocking turn of events after PKR posted whopping gains of Rs. 3.5 against the GBP on Monday.