DOLLAR TO PKR: On Thursday, the Pakistani rupee (PKR) appreciated by 2.5 paisa against the US dollar in the interbank session, settling at PKR 278.38 per USD compared to the previous session’s closing of PKR 278.4 per USD. During the session, the currency saw an intraday high (bid) of 278.5 and a low (ask) of 278.25.
In the open market, exchange companies quoted the dollar at 277.75 for buying and 280.50 for selling.
PKR EXCHANGE RATES CURRENCY COMPARISONS
Against major currencies, the PKR experienced mixed performance:
- Euro to PKR: PKR lost 30.74 paisa, closing at 297.56 compared to 297.25 in the previous session.
- British Pound to PKR: The PKR strengthened, becoming cheaper by 36.56 paisa, closing at 351.67 compared to 352.04 from the previous day.
- Swiss Franc to PKR: The PKR saw a loss of 51.23 paisa, closing at 310.12 compared to 310.63 in the prior session.
- Japanese Yen to PKR: PKR gained 0.24 paisa, closing at 1.7339 versus 1.7363 the day before.
- Chinese Yuan to PKR: PKR lost 1.5 paisa, closing at 38.3 against 38.31 from the previous session.
- Saudi Riyal to PKR: The currency closed at 74.2, losing 0.56 paisa from its previous value of 74.21.
- U.A.E Dirham to PKR: The PKR decreased in value by 0.58 paisa, closing at 75.79 from 75.21 the previous day.
YEARLY PERFORMANCE
During the current financial year, the PKR has appreciated against the US dollar by 7.62 rupees or 2.74%. Over the current calendar year, it has appreciated by 3.49 rupees or 1.25%.
MONEY MARKET UPDATE
In the money market, the benchmark 6-month Karachi Interbank Bid and Offer rates inched up by 2 basis points, standing at 19.91% and 20.16%, respectively.
GOLD MARKET
In Pakistan, the price of gold increased on Thursday. A tola of 24-karat gold was sold for Rs241,000, an increase of Rs400. According to the Karachi Sarafa Association, the cost of 10 grams of 24-karat gold increased to Rs206,619, or an increase of Rs343 per tola. Likewise, a higher price of Rs189,400 per 10 kilos was reported for 22-karat gold.
