Dear reader, please upgrade to the latest version of IE to have a better reading experience. The United States dollar rose further against the rupee in the inter-bank market, hitting a high of Rs The dollar todays in the inter-bank market is around Rs Currency dealers have described the depreciation of the rupee against the dollar as a deliberate attempt by the government to devalue the local currency. Money market sources claim the government in talks with the International Monetary Fund in Dubai has been pressured to devalue the rupee. Since the last week of August, when the dollar made sharp gains against the rupee, the inter-bank market was well under control of the central bank and the US currency was not allowed to cross Rs The dollar was set free to locate its value in the inter-bank and within minutes it started rising against the local currency," Atif Ahmed, a currency dealer in the inter-bank market said earlier. Ahmed had said the sudden appreciation of the US currency created a rush forex buyers to cover their imports. Chances are slim that the dollar would slide back, currency dealers say, citing its steady position since a big single-day surge of 2. In comparison, the rupee seems to be overvalued by about 5pc," said Eman Khan from Tresmark. Faisal Mamsa of Landmark Capital said, "Taking into account the actual depreciation in major currencies, we estimate that the fair value of the rupee based on interbank adjusted REER [real effective exchange rate] has shifted to range from earlier. Real effective exchange rate is the nominal rates exchange rate — a measure of the value of a currency against a weighted average of several foreign currencies pakistan divided by a price deflator or index of costs. A rate exchange at the Fed's two-day policy meeting which ends later on Wednesday is virtually priced out due to underlying concerns over a slowdown in China and the broader impact on global growth. But many investors still expect the Fed to indicate that interest rates could rise as early as December. Ahead of the Fed outcome, the dollar index moved in a narrow range this week. The index, which gauges the greenback against six rival currencies, exchange at Tuesday's US economic data did forex back the case for a rate hike, with both durable pakistan orders and consumer sentiment falling short of market expectations. None of these really support a rate hike," said Masatoshi Omata, senior client manager of market trading at Resona Bank. The euro, which was knocked by European Interbank Bank chief Mario Draghi's surprisingly dovish stance last week that opened the door to further monetary easing in December, fell about 0. ECB Executive Board member Benoit Coeure said late on Tuesday in Mexico that the bank may need to cut its deposit rate further if inflation rises towards its pakistan more slowly than previous expected. You could say that a 0. The yen stood at The Bank of Japan's policy meeting on Friday also looms large for the yen, with traders split on whether Japan's central bank will expand its stimulus. The BOJ is set to cut its price forecasts in a semi-annual report which is also due on Friday, but even in light of this, many BOJ officials would prefer to hold off on expanding the bank's massive stimulus programme. The British pound steadied after it slipped to a two-week low on Tuesday after data showed Britain's economy slowed more than expected in the third quarter, fuelling concern that a period of rapid expansion is coming to an end. Gross domestic product growth slackened to 0. Economists had forecast a drop to 0. World economy on verge of tumbling into dollar recession but in Pakistan i guess it is other way around. Dollar inter-bank rate hits record high for Call him and show the patient. Every textile and value added exporter was talking about that for months. With that depreciation our products will become competitive and exports will todays. When Pak rupees is depreciated in Pakistanthe assets of our so-called leaders abroad shoots up dramatically by themselves in seconds. This is the strategy behind this game. Moment of silence for PMLN supporters who think sharif kingdom is taking Pakistan to the heights of todays. We are heading towards severe financial crises and debts are increasing at very fast pace. Thank you Nawaz sharif for breaking begging bowl forex my dreams. But this is no remedy. Our neighbours India, Bangladesh increasing their exports without devaluation of their currencies. When exports increase, our foreign exchange reserves increase and automatically the value of Rupee will increase. Overseas Pakistanis remittances is the main source of foreign exchange income now. All the doors from Textiles to Carpets to Leather to Engineering products are closed due to Power shortage, high level corruption, no planning except on motorways, metros. All noon league persons like you will also take it as an achievement foolishly. Mohammad Iqbal The exports of Bangladesh have also dropped by For anything good, the credit goes to military and for anything bad, the blame goes to the PM. Good policy of this country. Well, there is nothing to worry, depreciation of rupee was necessary, but government held it just for political motives. I we artificially keep exchange rate low then our exports would decrease more. Dar's Balloon has been deflated!!! I have given you the reason already Its all about the value of our not so almighty Rupee,thank you Dar sahib. No wonder I feel like a rich man whenever I visit Pakistan from States until I go to buy something and realize I need a briefcase full of money just to buy a cup of chai at a khooka. This is the famous IMF recipe to make its payments to poor earn double the normal return in interests. It also boosts the home remittances from overseas workers due to better exchange rates for their wages earned abroad. And finally, it is a bonanza for the Swiss Bank stashed loot money holders because, it can invite frenzy buyers against property back home, making white out of jet-black. I hope the country moves in this direction so it can compete with its neighbors. Devaluing rupee is short cut and is not a fix. The real fix is to reduce operation cost with rates management and technology so that finished goods can be sold at a lower price. A devalued rupee makes the imports e. Therefore devaluation is not interbank solution, it is a jail break for select few. Congratulations to the Govt, specially Dar exchange for the job very disgracefully done. What else can be expected from the a Govt and its inter who know nothing about their jobs. At the same time, I thank the people of Pakistan for electing such people and giving rates chances over chances. Thank you Nawaz Sharif you are taking us all the way to the top. EPAPER LIVE TV DAWNNEWS URDU Images Herald Aurora CityFM89 Events Supplements Classifieds Obituaries. Dear reader, online ads enable us to deliver the journalism you value. Please support us by taking a moment to turn off Adblock on Dawn. Home Latest Champions Trophy Popular Pakistan Today's Paper Opinion World Inter Business Magazines Culture Blogs Tech Multimedia Archive In Depth. Dollar inter-bank rate hits record high for Reuters Talqeen Zubairi Published Oct 28, In addition, exporters have also called for a devaluation of the rupee, they say. Comments 23 Closed Best Newest Oldest. Oct 28, You elected these leaders, you should bear the consequences of their policies. Oct 29, Long ago in the past days, there once was an era of Gen. Oct 30, Desk Mrec Top Advertisement. Foodpanda has inter with the Akram Foundation to distribute donations to kids in hospitals. Most popular Pakistan defy all odds, cruise to Champions Trophy final after outshining England. Panama Papers JIT levels startling allegations against govt, seeks strict court action. Lion on Karachi's streets causes social media furore, owner and pet taken into custody. India to face Pakistan in Champions Trophy final after comfortably beating Bangladesh. I was physically and emotionally abused and want to speak up for women who are afraid. Want to go to London to watch the ICC Champions Trophy final? Here's how you can do it. Pakistan's middle order 'exposed', concedes Mickey Arthur. The difficulty of selecting from a bunch of performing bowlers is a problem, but a good one. Will the increase in the education budgets be able to address the inequities in our learning systems? Editorial Published Jun 16, Published Jun 16, Updated Jun 16, Pakistan will be wary of the arch-rivals who have enjoyed a clear edge in recent contests. Updated Jun 15, Published Jun 15, Contact Us Facebook Twitter Android App iPhone App. Newsletters Prayer Timings Stock Forex and Gold Weather Social Media Guidelines. Code of Ethics Terms of Use Privacy Reproduction Copyrights Contribution Guidelines.
Interbank Forex Rate In Pakistan
Interbank Forex Rate In Pakistan
3 thoughts on “Interbank forex exchange rates in pakistan todays inter”
Unless you actually saw this happen yourself, there is no reason to believe it, Hume argued, so stories about miracles should not incline a person to believe that the miracles happened, never mind some other proposition (such as the divinity of the person who is supposed to have performed the miracle). (MORE).
The Writing Cafe: Top 5 Tips to Improve your Academic Writing.
Unless you actually saw this happen yourself, there is no reason to believe it, Hume argued, so stories about miracles should not incline a person to believe that the miracles happened, never mind some other proposition (such as the divinity of the person who is supposed to have performed the miracle). (MORE).
Grids like those produced by the WRF model are complex because.