Pakistan: United States Dollar Sold At Rs160.1 On Jan 19

The US dollar buys rate was 160.1 rupees and the sell rate was 160.8 rupees on Tuesday. This week we will follow the rangebound trading pattern.

The rupee fell 0.12% at the beginning of Monday as importers and businesses bought dollars to settle payments. Dealers said increasing demand for dollars from importers and the corporate sector put pressure on domestic currencies.

At the opening of the Pakistani currency market on Tuesday, January 19, the US dollar’s buy rate was Rs160.1 and the sell rate was Rs160.8.

The Pakistani rupee is likely to remain stable or weaken slightly against the US dollar this week as demand for the hard currency from importers increases.

Forex traders said local units are expected to follow this week’s limited-range trading patterns.” However, any fall in demand for the US dollar for import payment, especially oil, could impair rupee stability.”

United States Dollar
Image Source: Pexels

Read: Pakistan: Gold Rates Increase by RS 150 on January 18

Meanwhile, the following are the US Dollar rates, UK Pound, Saudi Riyal, the UAE’s Dirham, and other currencies in the market today.

Australian Dollar121.5123.5
Canadian Dollar124126.5
Euro194 196.5
US Dollar160.1160.8
Japanese Yen1.55 1.58

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Muhammad Bilal

Bilal Asghar is the founder and CEO of Subrays Inc.

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