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Pakistani rupee devalues close to much anticipated Rs200

ghazi52

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Mar 21, 2007
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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal Rates on May 21, 2022​


Source: Forex Association of Pakistan. (last update 09:00 AM)

CurrencySymbolBuyingSelling
US Dollar‎USD200.4202.15
EuroEUR204.5206
UK Pound SterlingGBP246248.5
U.A.E DirhamAED54.555.5
Saudi RiyalSAR5253
Australian DollarAUD135.5137.5
Bahrain DinarBHD386.5388.5
Canadian DollarCAD153155
China YuanCNY23.5523.95
Danish KroneDKK23.6523.95
Hong Kong DollarHKD16.616.85
Indian RupeeINR2.032.1
Japanese YenJPY1.411.44
Kuwaiti DinarKWD481.85484.35
Malaysian RinggitMYR36.7537.1
New Zealand DollarNZD96.8597.55
Norwegians KroneNOK17.517.75
Omani RiyalOMR392.95394.98
Qatari Riyal‎QAR39.940.5
Singapore DollarSGD135.5137.5
Swedish KoronaSEK18.819.05
Swiss FrancCHF160.35161.25
Thai BhatTHB4.84.9
 

vishwambhar

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Hello guys.... I always wanted to know how the currency power is decided between two countries..... Any expert here....
 

Crimson Blue

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The Real Truth finally disclosed by Geo news.

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ghazi52

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Mar 21, 2007
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The rupee continued to lose ground against the US dollar on Monday, in the 12th consecutive session when the greenback continued to climb and gained 80 paisa in interbank trade.

According to the Forex Association of Pakistan (FAP), the dollar was trading at Rs201.05 around 11.30 am after appreciating 80 paisa against Friday's close of Rs200.25. Data released by State Bank of Pakistan (SBP) showed the dollar had closed at Rs200.14 on Friday.

The greenback subsequently closed at Rs200.80, appreciating 55 paisa against Friday's close, the FAP said.

The persistent decline in the rupee's value since May 10 has been largely attributed to the country's rising import bill, widening current account deficit and depleting foreign exchange reserves.

Since the PML-N-led coalition government took over on April 11, when the dollar was valued at Rs182.3, the greenback has risen by Rs18.5, or 10.15pc.

A weekly report by Dawn shows that the dollar appreciated more than Rs7 between May 13 and May 20, rising from Rs193.10 to Rs200.45 in interbank trade.
 

ghazi52

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Mar 21, 2007
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The Pakistani rupee hit a new all-time low on Wednesday, reaching Rs202 against the US dollar for the first time in inter-bank market.

The country's capital markets continued to plunge as the ousted Pakistan Tehreek-e-Insaf (PTI) began its long march to the federal capital amid the coalition government's crackdown on party workers and leaders in an attempt to stop the party from marching on to Islamabad.

Rupee slumped Rs1.08 to a historic low of Rs202.49 against the greenback just before noon, cumulatively losing over Rs16 against greenback in the past 14 working days.

The Pakistan Stock Exchange sank 1.22% (or 513 points) to a one-year low, at 41,438 points at noon as well.

According to experts, political uncertainty was indicative of economic turmoil in Pakistan. Bloomberg also reported that the threat of default was fast approaching Pakistan as the political crisis continued to deepen.

The report came ahead of a likely inconclusive end to talks between the government and the International Monetary Fund (IMF). The government had been hoping for revival of the $6 billion loan programme during negotiations in Doha.

Earlier, State Bank of Pakistan (SBP) acting governor Dr Murtaza Syed had hinted at a possible delay in Doha talks by “a few days or weeks”.

Pakistan badly needs the IMF loan programme to increase its capacity to make international payments and avert the elevated risk of default on global payments.

The global lender had conditioned the revival of the loan programme with the withdrawal of subsidiaries on petroleum products and electricity.

Two days ago, finance Minister Miftah Ismail had ruled out passing on the increase in international energy prices to the public. The action would have increased inflation, reaching a high of or over 15% in the country.

The news came as Pakistan's foreign exchange reserves depleted to a critically low level of six-week import cover, at $10.1 billion.

Islamabad is estimated to record a net outflow of over $7 billion from the reserves in May and June, as it is scheduled to repay maturing global bonds worth $4.5 billion and another $3 billion to finance current account deficit by end of June 2022.
 

xyxmt

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Economy and Everything can be fixed but need a honest man like Imran Khan Back with his honest group of people

Inshallah Allah barkat dega

I have been strongest Pro Army all my life but now I am starting to see the truth in the statement "Pakistan Army is responsible for all of Pakistan woes". We all know every time there is a change of civilian govt Army is behind it. Look at PPP govt of Gilani, PMLN's govt of NS and now IK govt. All overthrown only months before the completion of five year just toe keep political instability in Pakistan. I supported Army at Gilani's time because PPP is corrupt party. I supported NS overthrowing because they were corrupt and everyone can see it. But now whats with PTI govt, all economic indicators were good then why Gen Bajwa's kampain tang gye from just one letter of a low level US official. Now I see there was a truth in Khwaja Asif's speech in assembly when he said Bajwa came to national assembly and his legs were shaking (tangain kamp rehi thy) after Indian attack at Doklam. now the 2nd time his legs shook, is he even worthy of leading Pakistan Army.

#Kampti_tangain_namunzoor
 

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