Following a blanket gain against all major currencies yesterday, thePakistani Rupee gained against most major currencies in the interbankmarket today, recording the highest jump against the Euro with Rs. 1.04,but it also had a downward movement against the US Dollar.
The PKR lost 15 paisas to the greenback on Friday (January 8) after gaining3 paisas yesterday. The final trading day of the first week of 2021 saw itat Rs. 160.17 on Friday against the USD, as compared to Rs. 160.01 onThursday. This is down from Rs. 160.29 to the US Dollar on Wednesday.
[image: Image]——————————
The PKR showed improvement in the exchange rate against other majorcurrencies on Friday. It gained Rs. 1.04 to the Euro while accumulating a66 paisas gain yesterday, gained 15 paisas to the GBP while adding on to again of 99 paisas yesterday, and posted a gain of three paisas to theAustralian Dollar after yesterday’s improvement of 35 paisas.
Read Top Stories
However, the PKR lost six paisas Against the Canadian dollar today after again of 35 paisas yesterday. It also posted a loss of four and six paisasagainst the UAE Dirham and the Saudi Riyal respectively.——————————
The Managing Director at Khadim Ali Shah Bukhari Securities, A. A. H.Soomro, expects a steady rate until May-June of 2021. He has predicted thatthe parity will stay around the Rs. 164-165 level as low oil prices, higherremittances, and the COVID-19-induced Current Account savings will keep theforeign exchange reserves and the Rupee with a comfortable margin.
