Treasury Management Division of National Bank of Pakistan (NBP) on Thursday issued the following exchange rates.
Currency Symbol TT Selling TT Buying
- U.S DOLLAR USD 170.95 170.45
- EURO EUR 198.72 198.14
- JAPANESE YEN JPY 1.5281 1.5237
- BRITISH POUND GBP 230.06 229.38
- SWISS FRANC CHF 183.18 182.65
- CANADIAN DOLLAR CAD 134.22 133.83
- AUSTRALIAN DOLAR AUD 123.19 122.83
- SWEDISH KRONA SEK 19.54 19.48
- NORWEGIAN KRONE NOK 19.53 19.47
- DANISH KRONE DKK 26.68 26.60
- NEWZEALAND DOLLAR NZD 117.72 117.37
- SINGAPORE DOLLAR SGD 125.64 125.28
- HONGKONG DOLLAR HKD 22.04 21.98
- KOREAN WON KRW 0.1444 0.1440
- CHINESE YUAN CNY 26.70 26.62
- MALAYSIAN RINGGIT MYR 40.84 40.72
- THAI BAHT THB 05.04 05.03
- U.E.A DIRHAM AED 46.87 46.74
- SAUDI RIYAL SAR 45.63 45.50
- QATAR RIYAL QAR 47.49 47.35
- KUWAITI DINAR KWD 568.03 566.38
Read more: SBP decides to raise the key interest rate
Conversion Rate for Frozen FCY Deposits
- USD 170.4449
- GBP 230.4415
- EUR 198.7728
- JPY 1.531
SETTLEMENT DATE: 04-10 2021
Increasing trade deficit
The second month of the current fiscal year 2022 saw the widening of the trade deficit by 133 per cent, data released for the month of August 2021 showed.
The provisional data showed that the imports increased two times more than the increase in exports as the economy reopens. The trade deficit for August 2021 reached $4.05 billion compared to August 2020 when it was $1.740 billion.
The exports for August 2021 reached $2.26 billion compared to $1.58 billion in August last year, showing an increase in exports 42.5 per cent year-on-year. On the other hand, on a month-on-month basis, the exports went down 3.5 per cent from $2.34 billion in July 2021.
The imports, on the other hand, saw an 89.9 per cent increase year-on-year, reaching the highest ever of $6.31 billion in August 2021, and on a month-on-month basis, they increased 12.7 per cent from 5.6 billion in July 2021.
These trade figures became one of the important reasons for the market’s doubtfulness about the Pakistani Rupee.
Read More: Pakistan’s trade deficit widens 133pc in August
Managing Director Kasb Securities A A H Soomro commented on the situation saying that the 10% PKR depreciation in 3.5 months only deters investor & business confidence as the financial planning gets adversely impacted.” He called for action by the government.
Courtesy: APP