On Monday, the Pakistani rupee (PKR) experienced a slight depreciation, dropping by 7.45 paisa or 0.03% against the US dollar in the interbank market. The currency settled at PKR 277.69 per USD, compared to the previous closing rate of PKR 277.61. Throughout the session, the rupee touched an intraday high of 277.80 and a low of 277.60.
In the open market, exchange companies quoted the dollar at PKR 276.75 for buying and PKR 278.75 for selling.
Performance Against Other Currencies:
- Euro: The PKR depreciated by 24.73 paisa or 0.08%, closing at PKR 301.28 compared to PKR 301.03 the previous day.
- British Pound: The rupee gained 70.81 paisa or 0.20%, settling at PKR 361.56 from PKR 362.27 a day earlier.
- Swiss Franc: The local currency weakened by 60.46 paisa or 0.19%, closing at PKR 321.01.
- Japanese Yen: The PKR depreciated by 0.39 paisa or 0.21%, ending the session at PKR 1.8532 compared to PKR 1.8493 previously.
- Chinese Yuan: The rupee strengthened slightly, gaining 2.09 paisa or 0.05%, closing at PKR 39.03 from PKR 39.05.
- Saudi Riyal: The PKR fell by 2.96 paisa or 0.04%, closing at PKR 73.94.
- UAE Dirham: The rupee depreciated by 2.03 paisa or 0.03%, closing at PKR 75.60.
Year-to-Date Performance:
So far during the current fiscal year, the Pakistani rupee has appreciated by 65.38 paisa or 0.24% against the US dollar. On a calendar year basis, the rupee has gained 4.17 rupees or 1.50%.
Money Market:
In the money market, the benchmark 6-month Karachi Interbank Bid and Offer rates (KIBOR) saw a slight decline of 4 basis points, with the bid rate at 14.26% and the offer rate at 14.51%.
