Consequently, an oversupply of the dollar ensured the exchange rate remained unusually lower in the kerb market
than the inter-bank market for several weeks.
In the final week, the dollar fell by 2 paisa in the inter-bank market and remained stable in the kerb market. The market was dull and there was little dollar demand due to prevailing uncertainty:
The rupee assumed downward trend in the interbank and kerb markets versus the dollar last week.
Every year, the inflow of foreign increases tends to rise after first ten days of Ramazan and charity proceeds (Zakat) also show their presence in the kerb market
In a statement to Express Tribune, Malik Bostan President Forex Association of Pakistan (FAP) said exchange companies bought $2-3 million daily from individuals in the kerb market
In the first week, the rupee lost marginally in inter-bank market but remained unchanged in the kerb market
. Under the strict instructions by the State Bank to ensure stability in exchange rates in the kerb market
, speculators were on the sidelines.
It comes merely days after the central bank had held an emergency meeting with currency exchange companies in which their heads were requested to arrange an adequate supply of dollars in the kerb market
, reported English daily.
2001-02: The rupee gained strength during 2001-02 both in the inter-bank and kerb market
because of 9/11 events.
KARACHI -- Following were the Closing Rates of foreign currencies in kerb market
issued by the Forex Association of Pakistan (FAP), here on Monday.
On the other hand, the kerb market
witnessed minor increase in the value of dollar.
Difference between interbank and open market rates widened to Rs1.55 on Friday as PKR closed at 110.55 per dollar in inter-bank market and 112.10 in kerb market
, reported The News
KARACHI -- State Bank of Pakistan on Wednesday was apprised by currency dealers that demand of dollar in kerb market