The Pakistani Rupee (PKR) experienced a minor depreciation of 0.02% against the US Dollar in Tuesday’s interbank session, with the exchange rate settling at PKR 278.69 per USD. This represents a 5.63 paisa decline from the previous closing value of PKR 278.63.
PKR’S INTRADAY PERFORMANCE IN THE INTERBANK MARKET
Throughout the trading day, PKR fluctuated between an intraday high of 278.80 and a low of 278.60 against the US Dollar. The movement indicates a relatively stable but slightly weakening trend for the PKR in the interbank market.
OPEN MARKET RATES: SLIGHT VARIATIONS OBSERVED
In the open market, exchange companies quoted the Dollar at PKR 279.24 for buying and PKR 280.40 for selling. The open market rates are marginally higher than the interbank rates, reflecting typical market variances.
PKR’S PERFORMANCE AGAINST OTHER MAJOR CURRENCIES
• EURO: The PKR gained 1.07 rupees against the Euro, closing at PKR 304.42 compared to the previous value of PKR 305.49.
• BRITISH POUND: The British Pound became cheaper by 2.03 rupees, closing at PKR 354.93, down from PKR 356.97 the day before.
• SWISS FRANC: The PKR saw gains against the Swiss Franc, which closed at PKR 325.43, a decrease of 2.19 rupees from the previous session.
• JAPANESE YEN: PKR appreciated by 2.94 paisa against the Japanese Yen, closing at PKR 1.9175 compared to PKR 1.9469 a day earlier.
• CHINESE YUAN: The PKR gained slightly against the Chinese Yuan, closing at PKR 39, a gain of 2.6 paisa from the previous session.
• SAUDI RIYAL: The Saudi Riyal closed at PKR 74.24, appreciating by 1.3 paisa from its previous value of PKR 74.22.
• U.A.E. DIRHAM: The U.A.E. Dirham also saw a slight increase, closing at PKR 75.86, a gain of 1.53 paisa from the previous session.
PKR EXCHANGE RATE AGAINST MAJOR CURRENCIES
• PKR TO EURO (€): The ₨ gained 1.07 against the €, closing at ₨304.42 compared to the previous value of ₨305.49.
• PKR TO BRITISH POUND (£): The ₨ appreciated by ₨2.03 against the £, closing at ₨354.93, down from ₨356.97 the day before.
• PKR TO SWISS FRANC (CHF): The ₨ saw gains against the CHF, which closed at ₨325.43, a decrease of ₨2.19 from the previous session.
• PKR TO JAPANESE YEN (¥): The ₨ appreciated by 2.94 paisa against the ¥, closing at ₨1.9175 compared to ₨1.9469 a day earlier.
• PKR TO CHINESE YUAN (¥): The ₨ gained slightly against the ¥, closing at ₨39, a gain of 2.6 paisa from the previous session.
• PKR TO SAUDI RIYAL (ر.س): The ₨ appreciated by 1.3 paisa against the ر.س, closing at ₨74.24, up from its previous value of ₨74.22.
• PKR TO U.A.E. DIRHAM (د.إ): The ₨ gained 1.53 paisa against the د.إ, closing at ₨75.86, compared to ₨75.87 the previous day.
YEARLY PERFORMANCE OF PKR AGAINST THE US DOLLAR
During the current financial year, the PKR has depreciated by 34.4 paisa or 0.12% against the US Dollar. However, on a calendar year basis, the PKR has appreciated by 3.18 rupees or 1.14%, showcasing resilience in the face of economic challenges.
MONEY MARKET STABILITY: KIBOR RATES UNCHANGED
In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer Rates (KIBOR) remained steady at 19.1% and 19.35% respectively, indicating a period of stability in borrowing costs.
