According to the State Bank of Pakistan, the US dollar opened at Rs154.40 and closed at Rs154.54. Within the open market, the US dollar was traded at Rs154.50-155.50. The local currency shed Rs0.11 against the greenback during the last two days.
However, the local unit has gained Rs13.52 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs5.30 in 2021.
Currency experts said that the market was under pressure due to dollar demand for import and corporate payments. They said that as the fiscal year is ending in the month of June, the corporate buyers were seen active for dollar buying.
Furthermore, the demand was also seen for oil import payment. They, however, said that the rupee would recover in coming days owing to sufficient inflows of export receipts and workers’ remittances.
Director General (DG) of Immigration and Passports Mustafa Jamal Qazi on Friday said that the…
The United Kingdom will support seven climate change projects in Pakistan including building solar farms…
The Senate Standing Committee on Power on Friday reviewed the overbilling, electricity theft and discrepancies…
Power Minister Sardar Awais Laghari revealed overbilling of more than Rs80 billion in Lahore Electric…
The newly appointed United Nations (UN) Resident and Humanitarian Coordinator (UNRHC) Mohamed Yahiya on Friday…
The economy of Pakistan is recovering and demonstrating newfound stability and optimism, bolstered by the…
Leave a Comment