The Pakistani rupee (PKR) appreciated by 17.62 paisa against the US dollar during Friday’s interbank session, settling at PKR 278.33 per USD compared to the previous session’s closing of PKR 278.5 per USD. The currency saw an intraday high (bid) of 278.8 and a low (ask) of 278.6.
In the open market, exchange companies quoted the dollar at 277.25 for buying and 280.00 for selling. However, on a weekly basis, the local unit lost 12 paisa against the USD.
Performance Against Major Currencies
- Euro: PKR lost 22.71 paisa, closing at 301.23 compared to Thursday’s value of 301.01.
- British Pound: The rupee gained 30.74 paisa, closing at 353.63 compared to 353.93 from a day ago.
- Swiss Franc: The rupee saw gains of 1.56 rupees, closing at 307.58 compared to 306.01 from the previous session.
- Japanese Yen: PKR appreciated by 0.3 paisa, closing at 1.7711 versus 1.7741 a day ago.
- Chinese Yuan: The rupee remained stable, closing at 38.43, unchanged from the previous session.
- Saudi Riyal: PKR depreciated by 4.7 paisa, closing at 74.21 compared to 74.25 a day ago.
- U.A.E Dirham: The currency decreased by 5.1 paisa, closing at 75.83 compared to 75.78 from the previous session.
Yearly Performance
During the current financial year, the PKR has appreciated against the USD by 7.66 rupees or 2.75%. In the current calendar year, the rupee has seen an appreciation of 3.53 rupees or 1.27%.
Money Market Update
In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates (KIBOR) inched down by 5 basis points to 20.77% and 21.02%, respectively.
This mixed performance of the PKR against various major currencies indicates ongoing volatility and the influence of both domestic and international economic factors.
