The Pakistani Rupee (PKR) showed a modest gain in Friday’s interbank session, appreciating by 17.94 paisa or 0.06% against the US dollar. The local currency settled at PKR 277.61 per USD, compared to the previous day’s closing rate of PKR 277.79.
Intraday Performance
Throughout the day, the rupee traded within a narrow range, touching an intraday high (bid) of PKR 277.80 and a low (ask) of PKR 277.70 against the US dollar. The marginal gain reflects stability in the currency market as the rupee continued to consolidate its position amid ongoing economic challenges.
PKR Performance Against Other Major Currencies
The Pakistani Rupee also displayed mixed performance against other major currencies:
- Euro (EUR): PKR appreciated by 50.00 paisa or 0.17%, closing at PKR 301.03 compared to the previous value of PKR 301.53.
- British Pound (GBP): The local currency weakened by PKR 1.43 or 0.40%, falling to PKR 362.27 from PKR 360.84 the day before.
- Swiss Franc (CHF): PKR gained 61.45 paisa or 0.19%, closing at PKR 320.40 against the Swiss franc, up from PKR 321.01.
- Japanese Yen (JPY): The rupee strengthened slightly against the yen, rising by 0.56 paisa or 0.30%, to close at PKR 1.8493, compared to the previous session’s value of PKR 1.8549.
- Chinese Yuan (CNY): PKR weakened against the yuan, depreciating by 8.01 paisa or 0.21% to close at PKR 39.05 from the prior day’s rate of PKR 38.97.
- Saudi Riyal (SAR): The local currency saw a modest gain of 5.56 paisa or 0.08%, closing at PKR 73.91 against the Saudi Riyal.
- U.A.E Dirham (AED): PKR also gained 4.89 paisa or 0.06%, closing at PKR 75.58 versus the previous session’s value of PKR 75.63.
Year-to-Date and Fiscal Performance
Since the beginning of the current fiscal year, the Pakistani Rupee has appreciated by 72.83 paisa or 0.26% against the US dollar. On a calendar-year basis, the rupee has strengthened by PKR 4.25 or 1.53% against the greenback.
The mixed performance of the rupee against various currencies reflects ongoing volatility in global currency markets, driven by fluctuations in oil prices, geopolitical developments, and local economic factors.
As Pakistan continues to navigate its fiscal challenges, the central bank’s policies and foreign exchange reserves will play a key role in determining the rupee’s trajectory in the coming weeks.
