Dollar slipped by 45 paisa, difference between open and bank still at 2 percent

News Image

MG News | July 25, 2017 at 01:47 PM GMT+05:00

0:00

Dollar in open market slipped by 45 paisa but still away from the benchmark set by the State Bank of Pakistan to keep the difference between open and interbank market up to one percent.
The dollar in open market on Monday hit Rs 108.20 level, but selling from some investors on Tuesday clipped the wings of dollar. The dollar in open market moving between Rs 107.50 to Rs 107.75 but demand was still on the higher side.

However, according to the dealer the rate difference between bank and open market has been around 2 percent which should be around 1 percent as per the recent understanding reached between the central bank and exchange companies officials.

Currently at bank, dollar has been selling at Rs 105.40 while if benchmark of the central bank has to be maintained green back rate would be around Rs 106.50 to Rs 106.75.

According to the official of the exchange company the demand of the dollar has been on higher side as people wants riyal for their Haj offering. During Haj season the demand usually hit 225 million dollars and export small currencies including riyal halted, resulted in pressure on dollar. He added by August end the pressure would be diminished and the difference between bank and open market might comfortably reach up to 1 percent.

Related News

Name Price/Vol %Chg/NChg
KSE100 135,939.87
307.74M
-0.41%
-562.67
ALLSHR 84,600.38
877.08M
-0.56%
-479.52
KSE30 41,373.68
101.15M
-0.43%
-178.94
KMI30 191,069.98
82.45M
-1.17%
-2260.79
KMIALLSHR 55,738.07
422.01M
-1.03%
-577.24
BKTi 38,489.75
45.79M
-0.02%
-8.33
OGTi 27,788.15
6.87M
-1.24%
-350.24
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,690.00 117,890.00
117,510.00
950.00
0.81%
BRENT CRUDE 68.86 69.41
68.60
-0.35
-0.51%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.79 66.79
66.73
0.27
0.41%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge


July 15, 2025 at 05:22 PM GMT+05:00

Big industry output rises 2.29% in May


July 15, 2025 at 04:22 PM GMT+05:00

SYS set for 71% profit surge on global tailwinds



Top 5 things to watch in this week

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