Tuesday Feb 23, 2021
KARACHI: The buying rate of the US dollar was Rs158.8, while its selling rate was Rs159.5 on Tuesday, February 23 in the open market.
The sentiment was cautious ahead of the meeting of the Financial Action Task Force (FATF) according to a The News report which is being held in Paris (Feb 22-25) to review Pakistan’s progress and decide about its fate regarding the grey list.
“We expect the rupee to stay stable with a slight weakness in the coming sessions,” a currency dealer said.
“The month-end dollar demand from importers could put some pressure on the domestic currency.”
The publication reported that traders anticipate the rupee to hold a stable trend, trading at 159/dollar-mark in the near-term, as remittances are increasing and exports have picked up.
However, most traders are concerned by a continual decline in the country’s foreign exchange reserves.
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 Exchange Companies Association Pakistan.
|UK Pound Sterling||220.5||223.5|