Today, the Pakistani rupee opened trading at 280 in the interbank market, marking its seventh consecutive day of declines against the US dollar.
It was bearish at 11:30 PM, trading near 282 against the US dollar.
Afterwards, between 1:30 and 2:30 PM, the interbank rate eased back to the 280 level before stabilizing trends for the rest of the day. Today’s open market rates ranged from 280 to 283, depending on the currency counter.
The PKR lost 52 paisas versus the dollar today, dropping by 0.19 percent to close at 281.47.
Today marked the seventh day in a row that the rupee closed lower. Since September 4th, the difference in rates between interbank and open market has decreased by Rs. 54. The rates started at 280 and have since dropped to 283 after experiencing brief spikes.
Read More: Price of Gold in Pakistan Goes up by Rs. 4,950 Per Tola in Outgoing Week
The rupee has declined significantly since January 2023, losing almost Rs. 64. It has decreased by more than Rs. 111 versus the US dollar since April 2022. The PKR has decreased 52 paisas in value relative to the US dollar based on today’s exchange rate movements.
The State Bank of Pakistan’s (SBP) Monetary Policy Committee (MPC) made the significant decision on Monday to maintain the policy rate at 22 percent.
The Committee observed that, as anticipated, headline inflation increased in September 2023.
The Committee identified some mitigating factors, even though the recent volatility in oil prices around the world and the increase in gas tariffs starting in November 2023 pose some risks to the FY24 outlook for inflation and the current account. These consist of the planned Q1 budgetary reduction, enhanced market accessibility to essential commodities, and the synchronization of interbank and open market exchange rates.
In the interbank market today, the PKR was down against every other major currency. It lost Rs. 2.43 versus the Euro (EUR), 31 paisas versus the Australian Dollar (AUD), 14 paisas versus the Saudi Riyal (SAR), and 14 paisas versus the UAE Dirham (AED).
Additionally, in today’s interbank currency market, it lost 70 paisas against the Canadian dollar (CAD) and Rs. 2.06 against the British pound (GBP).
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
