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Open market currency rates in pakistan12/30/2023 ![]() The price of Euro decreased by 95 paisa and closed at Rs 217.86 against the last day’s closing of Rs 218.81. Pakistan rupee on Monday depreciated by 89 paisa against the US dollar in the interbank trading and closed at Rs 219.86 against the previous day’s closing of Rs 218.97.Īccording to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 221 and Rs 223 respectively. Zafar Paracha, President of Exchange Companies Association of Pakistan (ECAP) was quite hopeful about the recovery of the rupee as she told Mettis Global that the rupee’s appreciation might go up to PKR 200 per USD in the upcoming months in the backdrop of IMF loan disbursement and expected funds from other friendly countries. Management approval is required for conducting transaction with the PEP and for customers who are from high-risk jurisdictions.Several factors including dismal macros owing to large-scale destruction by recent floods, extremely high ratio of inflation and increasing political noise are putting adverse pressure on the rupee which is not appreciating despite a bit of swelling in the country’s foreign exchange reserves.Management approval is required for all critical customers that require EDD.EDD is required for all frequent customers conducting transaction having value or above USD 15,000 (only for customers who wish to dispose of the FCY).EDD is required for all occasional customers conducting transaction having value or above USD 10,000 (only for customers who wish to dispose of the FCY). ![]()
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