Summary:
The United States dollar purchases rate was Rs160.5, while its selling rate was Rs161.2 on Wednesday, January 27 at the opening of the currency market.[KARACHI]
Overview:
Affected by rising interest from oil importers, the Pakistani rupee is relied upon to exchange somewhat more fragile against the US dollar this week.
Dealers said the rupee closed stronger against the dollar on Tuesday due to easing payment pressure and positive sentiment.
“Reports on providing financial support from the World Bank to Pakistan and issuing Islamic bonds helped positive market views,” he said.
The dealer said they were expecting the rupee not to violate 160 levels during their arrival, but much will depend on demand. And inflows from export and remittances.
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Meanwhile, the following were the rates of the US Dollar, Saudi Riyal, UK Pound, UAE Dirham, and other open market currencies.
The information has been obtained from the Pakistan Foreign Exchange Association.
| CURRENCY | BUYING | SELLING |
|---|---|---|
| Australian Dollar | 122 | 124 |
| Canadian Dollar | 124 | 126 |
| Euro | 194 | 196 |
| Japanese Yen | 1.55 | 1.58 |
| China Yuan | 24.9 | 25.05 |
| Saudi Riyal | 42.5 | 43 |
| UAE Dirham | 43.6 | 44.1 |
| UK Pound Sterling | 218 | 221 |
| US Dollar | 160.5 | 161.2 |
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