Currency movement broadly reflects the current account dynamics: SBP

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

0:00

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.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	131,949.07 198.95M	0.97% 1262.41
ALLSHR	82,069.26 730.83M	0.94% 764.01
KSE30	40,387.76 80.88M	1.11% 442.31
KMI30	191,376.82 77.76M	0.36% 678.77
KMIALLSHR	55,193.97 350.11M	0.22% 119.82
BKTi	35,828.25 28.42M	3.64% 1259.85
OGTi	28,446.34 6.84M	-1.02% -293.01

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,125.00	110,525.00 107,865.00	-2290.00 -2.07%
BRENT CRUDE	68.51	68.89 67.75	-0.29 -0.42%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	106.00	106.00 105.85	-2.20 -2.03%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.50	67.18 66.04	-0.50 -0.75%
SUGAR #11 WORLD	16.37	16.40 15.44	0.79 5.07%