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Pakistan: United States Dollar Sold At Rs161.3 On Jan 22

United States Dollar
Image Source: Pexels

The US dollar buys rate was 161.6 rupees and the sell rate was 160.3 rupees on Thursday.

Forex dealers said there were no heavy payments and the dollar supply was smooth as well.

At the opening of the Pakistani currency market on Friday, January 22, the US dollar’s buy rate was Rs161.6 and the sell rate was Rs160.3.

Thursday’s rupee closed slightly weaker at 160.75 against the dollar on the open market. The previous session ended at 160.70.

“Some of the dollars sold by exporters also support the rupee in the trade.” The traders have not responded negatively to the current account deficit in December.

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.

Read: Pakistan: Gold sold at Rs113,400 per tola on Jan 21

Dealers have said they expect the rupee to weaken slightly in coming sessions due to ongoing demand pressure.

CurrencyBuyingSelling
Australian Dollar122.5124.5
Canadian Dollar124.5127
Euro193.5195.5
US Dollar160.6161.3
Japanese Yen1.551.58 

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Muhammad Bilal

Bilal Asghar is the founder and CEO of Subrays Inc.

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