Dollar back under 170

MG News | November 03, 2021 at 11:58 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 3, 2021 (MLN): Stretching the gains for the sixth straight session, the Pakistani Rupee (PKR) on Wednesday has strengthened by 88 paisa against the US Dollar (USD) in an intraday at the interbank market.

The dollar was being quoted at 169.66/76 (12:01 PST) while the local currency on Tuesday had closed the trade at 170.54 per USD.

“Our stance was that PKR would come back on the IMF (or other) news and It did. Based on REER, current account, etc, its optimal value could be around 165-170,” Ali Khizar, Economist said in his early morning Tweet.

The exporters were holding back USD and now selling. The key to the journey of PKR is into commodity prices, he added.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	181,430.02 376.06M	-0.19% -346.57
ALLSHR	109,168.67 713.66M	-0.13% -139.83
KSE30	54,263.26 125.13M	-0.24% -128.56
KMI30	255,651.73 86.61M	-0.19% -483.04
KMIALLSHR	69,991.04 446.60M	-0.05% -33.30
BKTi	52,205.98 60.34M	-0.31% -161.74
OGTi	35,363.45 11.64M	0.17% 60.63

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	65,210.00	65,280.00 65,035.00	35.00 0.05%
BRENT CRUDE	82.38	84.44 81.50	-0.11 -0.13%
RICHARDS BAY COAL MONTHLY	105.50	105.50 105.50	-0.25 -0.24%
ROTTERDAM COAL MONTHLY	116.25	117.00 116.25	-0.10 -0.09%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	77.08	78.77 76.53	-0.21 -0.27%
SUGAR #11 WORLD	16.49	16.50 15.49	0.92 5.91%