Dollar continues beating PKR, nearing 200 in intraday

News Image

By MG News | May 19, 2022 at 09:50 AM GMT+05:00

0:00

May 19, 2022 (MLN): Enduring the rough patch amid weakening macros and delay in the IMF tranche has kept the dollar demand elevated as the Pakistani rupee (PKR) has lost 1.51 rupees in early trade compared to the previous close of 198.39 per USD.

The rupee was quoted at 199.70/200 (10:00 PST) with trades reported at 199.90.

PKR against USD proved to be the most sensitive currency in the time of crisis as most of the people/exporters are trying to hoard safe-haven dollar.

“Pension cost, circular debt Rs2.5 trillion, public entities Rs1.2tr and fiscal deficit of nearly 8% are not sustainable and adding pressure,” Asad Rizvi, the former Treasury Head at Chase Manhattan said.

While, Independent SBP is not worried about the PKR plunge, probably waiting for IMF outcome, he added.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 132,576.99
161.03M
-0.62%
-826.20
ALLSHR 82,983.68
903.36M
-0.25%
-204.38
KSE30 40,358.80
56.86M
-0.72%
-292.66
KMI30 190,727.32
67.92M
-0.71%
-1356.60
KMIALLSHR 55,698.48
457.08M
-0.27%
-149.22
BKTi 36,242.06
11.15M
-0.50%
-180.82
OGTi 28,323.42
10.71M
-0.40%
-114.19
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,965.00 109,970.00
108,625.00
750.00
0.69%
BRENT CRUDE 70.22 70.71
69.85
0.07
0.10%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.45
1.51%
ROTTERDAM COAL MONTHLY 109.00 109.00
109.00
1.90
1.77%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.38 68.94
67.78
0.05
0.07%
SUGAR #11 WORLD 16.48 16.49
16.08
0.35
2.17%

Chart of the Day


Latest News
July 09, 2025 at 05:27 PM GMT+05:00

Gold price in Pakistan falls Rs3,000 per tola


July 09, 2025 at 05:26 PM GMT+05:00

UBL crowned top performing Primary Dealer in FY25


July 09, 2025 at 05:11 PM GMT+05:00

SECP approves name change for Secure Logistics


July 09, 2025 at 05:02 PM GMT+05:00

Govt waives tax, slashes duties on sugar imports



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg