No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8
No Result
View All Result
No Result
View All Result

Dollar gains 65 paisa, swells to Rs177.50 in intraday trade

News Desk by News Desk
December 8, 2021
in Business, National
Reading Time: 1 min read
Dolllar
Share on FacebookShare on Twitter

KARACHI: On Wednesday, the US dollar gained 65 paisa in the interbank market during intraday trading. In the interbank market, the dollar traded at Rs177.50 and sold at Rs178.50 in the open market, according to the Forex Association of Pakistan (FAP).

According to some analysts, the dollar will swell to Rs180 following the high inflation rate, and the foreign exchange reserves decline. President of Forex Association Pakistan Malik Bostan has attributed the hike in the dollar rate to the rise in imports and believes that the IMF package could strengthen the rupee.

General-Secretary Exchange Companies Association of Pakistan Zafar Paracha said that the market could improve if Sukuk bonds of $1bn were issued. The dollar has gained Rs18.88 or 12 per cent against the rupee since July this year.

Related

News Desk

News Desk

Related Posts

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points
Business

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

January 26, 2023
Pakistan seeks US help for revival of IMF programme
Featured

Pakistan seeks US help for revival of IMF programme

January 26, 2023
PSX in boorish trend for second consecutive day; benchmark KSE-100 index lost over 700 points
Business

KSE-100 index gains over 850 points as IMF ninth review inches closer

January 25, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TOP NEWS

PCB to create history by naming enclosures of Bugti cricket stadium after former women's cricketers of Pakistan cricket team

PCB to create history by naming enclosures of Bugti cricket stadium after former women’s cricketers of Pakistan cricket team

by admin
January 26, 2023

Lahore: For the first time in the history of cricket any enclosure of a cricket stadium will be named after...

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

PSX in green zone after historic devaluation of rupee; KSE-100 index gains over 1000 points

by Zain Aijaz
January 26, 2023

The devaluation of Pakistani currency (Rupee Devaluation) has created a positive sentiment in the market at the Pakistan Stock Exchange...

ICC names Babar Azam ODI player of the year for consecutive second year

ICC names Babar Azam ODI player of the year for consecutive second year

by Zain Aijaz
January 26, 2023

The captain of the national cricket team, Babar Azam, has been declared the ICC ODI Player of the Year for...

Pakistan seeks US help for revival of IMF programme

Pakistan seeks US help for revival of IMF programme

by Zain Aijaz
January 26, 2023

Islamabad: On Wednesday, Pakistan reached out to the delegation of the United States (US) in an attempt to seek their...

The Upcut is a news platform that brings you the latest news, developments from all walks of life, from all over the world. We cover Business, news from Pakistan and rest of the world, Sports, and Entertainment. You can also read Tech Reviews and How-To Guides for simple solutions and dailylife hacks.

BUSINESS   |   NATIONAL   |   WORLD   |   SPORTS   |   ENTERTAINMENT   |   TECH   |   HOW-TO GUIDES

  • Home
  • About Us
  • Privacy Policy
  • Editorial Guidelines
  • Contact Us
  • Stories

Copyright © 2022 The Upcut. All rights reserved.

No Result
View All Result
  • Business
  • National
  • World
  • Sports
  • Entertainment
  • Tech
  • Stories
  • PSL 8

Copyright © 2022 The Upcut. All rights reserved.