Wednesday, December 2, 2020

FAP

Rupee hits historic low against USD

Pakistani rupee shed Rs6.03 or 5.0 percent against US Dollar on Thursday after the government agreed with the International Monetary Fund (IMF) to remove controls on currency exchange value letting the market forces determine the rupee value. On Thursday Rupee...

FAP decides not to provide USD to speculators, hoarders: Malik Bostan

President Forex Association of Pakistan Malik Bostan Khan along with the representatives of other exchange companies met Executive Director SBP Irfan Ali Shah and discussed USD rate and its availability in the market. After the meeting, association decided that only...

Rupee closes flat in cash free market

Pak rupee closes at Rs138.35 in the interbank market last day. However, there was no change in the cash free market on Saturday.   President Forex Association of Pakistan, Malik Bostan has said that the rupee had gained over 50 paisas...

Rupee gain momentum against USD

Pak rupee gained one paisa against the US dollar to close at Rs138.57 on Thursday compared with the last closing of Rs138.58. However, the rupee gained 40 paisas against the greenback in the cash free market.   With the recent reforms...

Rupee gains 04 paisas against US dollar

Pak rupee gained 04 paisas closing down at Rs. 138.74 to a dollar on Tuesday compared with last closing of Rs138.78 in interbank foreign exchange market. Receipt of $1.0 billion from Saudi Arabia last week had built up market sentiment,...

Rupee gets stronger against USD on sufficient supply

Pak rupee gained 15 paisas on Friday and closed at Rs138.78 to the dollar compared with previous day’s closing of Rs138.93 in interbank foreign exchange market.   The inflow of $2.0 billion from UAE as financial assistance lifted the market sentiment.   There...

Rupee stable against USD on sufficient supply

Pak rupee remained stable at Rs138.93 to the dollar on Wednesday compared with previous day’s closing of Rs138.93 in interbank foreign exchange market.   Although the demand for import payments and contract payments from corporate sector was high, however sufficient export...

Rupee remains stable on slow USD demand

Pak rupee ended at Rs138.83 to the dollar as compared with last day’s closing of Rs138.84 in interbank foreign exchange market. The shrinking current account deficit helped the local currency to gain. The greenback remained pressure free as the demand from...

USD likely to trade in Rs138 and 139 range, positive news expected from Qatar: Malik Bostan

President Forex Association of Pakistan (FAP), Malik Bostan Khan has said that at least three positive news are expected from the Prime Minister Imran Khan's visit of Qatar. He said that US dollar is being traded in the range of...

Rupee remain stable against USD in open market

Rupee remained stable against the US dollar on Tuesday as the demand and supply remained balanced.   The inter-bank US dollar closed at Rs138.90 as the demand for import payments and corporate sector was offset by remittances and export receipt.   Malik...
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