The United States dollar purchases rate was Rs160.6, while its selling rate was Rs161.3 on Monday, January 25 at the launch of the currency market.[KARACHI]
Affected by rising interest from oil importers, the Pakistani rupee is relied upon to exchange somewhat more fragile against the US dollar this week.
“There might be purchasing pressure from oil shippers. Quickening monetary action implies expanding interest for dollars to pay for energy, hardware and gear imports,” Forex brokers told the news.
“The inflows may not be sufficient to fulfil a market need. In this manner, we envision that the rupee will contact level 161 to the dollar with the possibility of losing somewhat more land if the inflows are not adequate to redress. “
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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 | 123 | 125 |
| Canadian Dollar | 125 | 128 |
| Euro | 193 | 195 |
| Japanese Yen | 1.55 | 1.58 |
| China Yuan | 24.9 | 25.05 |
| Saudi Riyal | 42.5 | 43 |
| UAE Dirham | 43.5 | 444 |
| UK Pound Sterling | 218.25 | 220.25 |
| US Dollar | 160.5 | 161.2 |
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