The Pakistani Rupee (PKR) experienced a marginal depreciation of 8.85 paisa, or 0.03%, against the US Dollar during Tuesday’s interbank session. It closed at PKR 277.84 per USD compared to the previous close of 277.75.
Interbank and Open Market Movement
- Intraday Range: PKR traded between a high (bid) of 277.90 and a low (ask) of 277.80 during the session.
- Open Market Rates: Exchange companies quoted the USD at PKR 276.97 for buying and 278.79 for selling.
Performance Against Major Currencies
- Euro: PKR depreciated by 84.26 paisa (0.29%), closing at 291.12 compared to 290.28.
- British Pound: Gained 19.45 paisa (0.06%) to settle at 348.62 from 348.82.
- Swiss Franc: Fell by PKR 1.73 (0.56%) to close at 313.33.
- Japanese Yen: Declined by 0.83 paisa (0.46%) to 1.8054 against 1.7971.
- Chinese Yuan: Appreciated by 5.23 paisa (0.14%), closing at 38.28 from 38.33.
- Saudi Riyal: Weakened by 1.76 paisa (0.02%) to 73.99.
- UAE Dirham: Dropped by 2.41 paisa (0.03%) to close at 75.64.
Fiscal and Calendar Year Trends
- Fiscal Year: PKR has strengthened by 50 paisa (0.18%) against the USD.
- Calendar Year: PKR has appreciated by PKR 4.02 (1.45%) against the USD.
Money Market Update
The 6-Month Karachi Interbank Bid and Offer Rates (KIBOR) experienced a decline of 7 basis points, settling at:
- Bid Rate: 13.27%
- Offer Rate: 13.52%
Key Takeaways
The PKR’s minor depreciation against the USD and mixed performance against other global currencies reflect ongoing volatility in the foreign exchange market. The money market saw easing interest rates, potentially signaling improved liquidity.
