Currency movement broadly reflects the current account dynamics: SBP

MG News | October 09, 2018 at 11:11 PM GMT+05:00

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Today, exchange rate in the interbank market closed at PKR 133.64 to USD against previous day’s closing of PKR 124.27 to USD.

This movement broadly reflects the current account dynamics and also the demand-supply gap in the foreign exchange market.

Although current account deficit narrowed in August 2018, a consistent increase in oil import bill on account of rising international oil prices has exerted pressure in the foreign exchange market.

SBP is of the view that this adjustment in the exchange rate along with lagged impact of recent hikes in the policy rate, and other policy measures to contain imports would correct the imbalances in the external account.

SBP will continue to closely monitor the situation and stand ready to intervene in case of any unwarranted volatility in the foreign exchange market.

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Name	Price/Vol	%Chg/NChg
KSE100	134,299.77 290.06M	0.39% 517.42
ALLSHR	84,018.16 764.12M	0.48% 402.35
KSE30	40,814.29 132.59M	0.33% 132.52
KMI30	192,589.16 116.24M	0.49% 948.28
KMIALLSHR	56,072.25 387.69M	0.32% 180.74
BKTi	36,971.75 19.46M	-0.05% -16.94
OGTi	28,240.28 6.19M	0.21% 58.78

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	118,140.00	119,450.00 115,635.00	4270.00 3.75%
BRENT CRUDE	70.63	70.71 68.55	1.99 2.90%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.10 1.14%
ROTTERDAM COAL MONTHLY	108.75	108.75 108.75	0.40 0.37%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.75	68.77 66.50	2.18 3.27%
SUGAR #11 WORLD	16.56	16.60 16.20	0.30 1.85%