The Pakistani rupee (PKR) appreciated by 15.29 paisa, or 0.06%, against the US dollar in Friday’s interbank session, settling at PKR 277.64 per USD, compared to the previous day’s closing rate of PKR 277.79. Throughout the trading day, the PKR saw an intraday high bid of 277.85 and a low ask of 277.75.
In the open market, exchange companies quoted the US dollar at PKR 278.5 for buying and PKR 279.75 for selling, reflecting minimal fluctuations in the currency’s value.
Weekly Performance
On a weekly basis, the PKR lost 12 paisa against the US dollar, showing a slight depreciation over the last five trading sessions.
Performance Against Other Major Currencies
- Euro: The PKR depreciated by 24.92 paisa, closing at PKR 303.94, compared to the previous value of PKR 303.69.
- British Pound: The rupee strengthened slightly against the British Pound, appreciating by 17.23 paisa to close at PKR 363.05, down from PKR 363.23 the day before.
- Swiss Franc: The PKR saw notable gains, appreciating by 99.05 paisa to close at PKR 324.06, compared to PKR 323.07 in the prior session.
- Japanese Yen: A minor appreciation of 0.09 paisa was recorded, with the PKR closing at PKR 1.8649 against the yen, up from PKR 1.8658.
- Chinese Yuan: The PKR gained 2.7 paisa, closing at PKR 39.28, compared to the previous rate of PKR 39.26.
- Saudi Riyal: The PKR depreciated by 5.06 paisa, closing at PKR 73.94, down from PKR 73.99 the day before.
- U.A.E. Dirham: The rupee fell by 4.37 paisa, closing at PKR 75.63, compared to PKR 75.59 in the previous session.
Yearly Performance
During the current financial year, the PKR has appreciated against the US dollar by 70.33 paisa, or 0.25%. For the calendar year, the rupee has seen a total appreciation of PKR 4.22, or 1.52%.
Money Market Update
In the money market, the benchmark 6-month Karachi Interbank Bid and Offer rates (KIBOR) edged down slightly, with the bid rate settling at 14.43% and the offer rate at 14.68%, both decreasing by 3 basis points (bps).
This modest improvement in the rupee’s value against the US dollar comes amid ongoing fluctuations in global currencies, with factors such as inflation, geopolitical tensions, and market dynamics continuing to influence exchange rates.
