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Wednesday Jan 27 2021
By
Web Desk

Currency update: US dollar down on Jan 27

By
Web Desk
Dealers said they expect the rupee not to breach 160 level in the coming sessions. STOCK IMAGE/File
  • The buying rate of the US dollar was Rs160.4, while its selling rate was Rs161.1 
  • The rupee ended stronger against the dollar on Tuesday because of the easing payment pressure and positive sentiment.
  • Dealers said they expect the rupee not to breach 160 level in the coming sessions.


KARACHI: The buying rate of the US dollar was Rs160.4, while its selling rate was Rs161.1 on Wednesday, January 27.

On Tuesday, the rupee ended stronger against the dollar because of the easing payment pressure and positive sentiment, dealers said.

“There were no heavy payments in the market and the demand for the greenback remained sluggish,” a foreign exchange dealer said.

“The reports of extending financial support from the World Bank to Pakistan and the issuance of Islamic bonds helped positive sentiment in the market,” he added.

Read more: Currency update: US dollar sold at Rs161.2 on January 26

Dealers said they expect the rupee not to breach 160 level in the coming sessions, but much would depend on the demand and inflows from export proceeds and remittances.

Meanwhile, the following were the rates of the US Dollar, Saudi Riyal, UK Pound, the UAE's Dirham, and other foreign currencies in the open market.

The information has been obtained from the Forex Association of Pakistan.

CurrencyBuyingSelling
Australian Dollar122.5
125 
Canadian Dollar124.5
126.5 
Euro194 
196
Saudi Riyal42.55
43.05 
Japanese Yen 1.55
1.58 
China Yuan24.95
25.1
UAE Dirham43.65
44.15 
UK Pound Sterling219
222
US Dollar160.4
161.1