PKR at interbank gains Rs2.54

MG News | September 26, 2022 at 01:25 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

September 26, 2022 (MLN): The dollar at the open market was trading around Rs238 as of 1:15pm and at Rs236.88 at interbank, according to data from Mettis Global.

The recovery in the interbank and open market came on the back of the news of Ishaq Dar’s appointment at the finance ministry. Former finance minister Dar was known for keeping the exchange rate artificially stable through intervention by selling dollars in the market.

The appreciation in PKR against the US dollar is 1.11% from Friday’s close of Rs239.65.

Forex Association of Pakistan Chairman Malik Bostan while speaking to MG link news said that the rupee’s gain was due to the news of Ishaq Dar taking over the finance ministry in the ongoing week.

Meanwhile, additional support was provided by the inflows promised by the World Bank to help contain the impact of devastating floods.

Bostan further added that with today’s appreciation in the rupee, the gap between interbank and open market exchange rates has narrowed significantly. He asked the government to take stern action against credit card payments which have put significant pressure on the rupee.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,498.84 185.04M	-0.57% -952.30
ALLSHR	100,481.40 703.99M	-0.51% -519.61
KSE30	49,764.01 68.59M	-0.64% -319.08
KMI30	240,340.56 94.21M	-0.36% -880.32
KMIALLSHR	65,599.63 389.80M	-0.33% -217.28
BKTi	45,136.63 31.52M	-1.09% -499.60
OGTi	35,252.30 4.64M	-0.58% -205.48

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,630.00	82,310.00 78,985.00	1885.00 2.36%
BRENT CRUDE	106.14	107.13 103.88	0.51 0.48%
RICHARDS BAY COAL MONTHLY	110.00	0.00 0.00	-6.70 -5.74%
ROTTERDAM COAL MONTHLY	108.25	108.25 107.25	0.00 0.00%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	101.64	102.35 99.39	0.62 0.61%
SUGAR #11 WORLD	15.00	15.42 14.92	-0.38 -2.47%