Rupee trading within 10 paisa range

MG News | December 19, 2017 at 02:16 PM GMT+05:00

0:00

After a tumultuous week in the Forex markets, the Rupee has finally found a range for itself. The Rupee opened at 110.49/51 on day break. The fluctuation remained rather placid as Rupee touched it’s highest to 110.54/55.

$\"\"$

The Rupee witnessed an abrupt depreciation during the last week after State Bank withdrew its support for the local currency, declining by 5 Rupees during the 7 days.

Analysts expect that the economic landscape is to change in the coming few months as inflation will rise to hit the 6% Target set by SBP. Furthermore, the Banks are of the opinion that the Central Bank may look to raise the rates during their meeting in March next year as well.

On the other hand, Overnight SWAPS remain negative.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,404.49 326.40M	-0.32% -556.16
ALLSHR	103,442.24 795.99M	-0.21% -217.04
KSE30	52,413.79 113.03M	-0.27% -143.72
KMI30	244,645.84 109.10M	-0.15% -378.05
KMIALLSHR	67,050.27 450.39M	-0.02% -14.08
BKTi	47,413.54 37.21M	-0.37% -176.81
OGTi	33,419.75 8.88M	-0.20% -67.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,895.00	89,510.00 85,135.00	3075.00 3.63%
BRENT CRUDE	60.52	60.65 59.40	0.70 1.17%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	96.90 96.90	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.54	56.72 55.61	0.54 0.96%
SUGAR #11 WORLD	14.85	14.87 14.45	0.37 2.56%