The Pakistani rupee (PKR) depreciated by 9.28 paisa against the US dollar in Wednesday’s interbank session as the currency settled the trade at PKR 278.5 per USD, compared to the previous session’s closing of PKR 278.41 per USD. This marks third decline in this week.
The currency saw an intraday high (bid) of 278.70 and a low (ask) of 278.50. In the open market, exchange companies quoted the dollar at 278.5 for buying and 279.75 for selling.
PKR PERFORMANCE AGAINST MAJOR CURRENCIES
In comparison to major currencies, PKR gained 1.24 rupees against the Euro, closing at 301.56 compared to the previous value of 302.8. The British Pound became cheaper by 81.31 paisa, closing at 358.82 compared to 359.63 from a day ago.
The Swiss franc saw losses of 19.43 paisa, closing at 312.71 compared to 312.9 from the previous session. Against the Japanese Yen, PKR lost 1.57 paisa, closing at 1.8014 versus 1.7857 a day ago.
The Chinese Yuan gained 0.67 paisa, closing at 38.28 against 38.27 from the previous session. The Saudi Riyal closed at 74.24 with a gain of 2.08 paisa from its value of 74.22 a day ago. The U.A.E Dirham increased in value by 2.53 paisa from 75.82 a day ago to 75.8.
PKR PERFORMANCE YEAR-TO-DATE
During the current financial year, PKR has depreciated against the Dollar by 15.88 paisa or 0.06%. While the current calendar year has seen PKR appreciate by 3.36 rupees or 1.21%.
MONEY MARKET UPDATE
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 10 bps to 19.49% and 19.74%.
