USD to PKR Exchange Rate Dynamics

The PKR saw a slight depreciation against the US dollar, closing at PKR 278.38 per USD compared to PKR 278.34 in the previous session previous session.

OPEN MARKET RATES

Exchange companies quoted the USD at PKR 277.41 for buying and PKR 280.07 for selling.

PERFORMANCE AGAINST MAJOR CURRENCIES

  • Euro to PKR: PKR depreciated by 70.68 paisa, closing at 298.39.
  • British Pound to PKR: PKR became cheaper by 46.93 paisa, closing at 351.45.
  • Swiss Franc to PKR: PKR lost 1.36 rupees, closing at 308.04.
  • Japanese Yen to PKR: PKR gained 0.8 paisa, closing at 1.7218.
  • Chinese Yuan to PKR: PKR lost 2.11 paisa, closing at 38.28.
  • Saudi Riyal to PKR: Closed at 74.2 with a gain of 0.56 paisa.
  • U.A.E Dirham to PKR: Increased by 0.98 paisa, closing at 75.78.

YEARLY AND FINANCIAL YEAR PERFORMANCE

PKR depreciated by 3.62 paisa against the USD in the current financial year, but appreciated by 3.48 rupees in the calendar year.

MONEY MARKET AND SBP OPERATIONS

The Karachi Interbank Bid and Offer rates edged down to 19.88% and 20.13%. The SBP conducted an Open Market Operation, absorbing Rs345 billion.

CONCLUSION

Currency fluctuations reflect ongoing economic volatility influenced by domestic policies and global factors, impacting Pakistan’s financial landscape.

ALI

ALI

Experienced Senior Research Analyst

SIKANDER RAZA

SIKANDER RAZA

Sikander Raza, a Senior Technical Analyst

HAMZA SALEEM

HAMZA SALEEM

Hamza Saleem, a Senior Business Analyst

IRSA

IRSA

Irsa Sajjad, as a Research Analyst for Equities

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