Pakistani Rupee Exchange Rate witnessed a slight depreciation against the US dollar by 14.51 paisa (0.05%) during Thursday’s interbank session, closing trade at PKR 278.67 per USD as opposed to its previous close rate of 278.52.
At one point in today’s trading, the rupee reached an intraday high (bid) of PKR 278.75 before reaching an intraday low (ask) of PKR 278.55.
OPEN MARKET RATES
Exchange companies offered dollar buying rates of PKR 279.08 per dollar purchased and 280.00 for selling, respectively, on the open market.
The Pakistani Rupee Exchange Rate weakened against major global currencies:
EURO: The rupee declined by 1.05 rupees to close at PKR 310.055, down from 309.59.
BRITISH POUND: It gained 2.5 rupees against its previous close of 362.6, to close at 365.1 as opposed to 362.6 and gain ground.
SWISS FRANC: Closing up with an increase of 2.6 rupees over its prior closing point at 325.44 it gained strength to finish at PKR 328.04 relative to 325.44
JAPANESE YEN: The Japanese yen fell by 1.02 paisa to close at PKR 1.9165 from 1.9063, while Chinese yuan appreciated by 3.1 paisa to close at PKR 39.06 from 39.03.
SAUDI RIYAL: Gaining 3.87 paisa it rose up from its previous level to close at PKR 74.27 from 72.23
U.A.E DIRHAM: The dirham appreciated by 4.06 paisa to close at PKR 75.87 from its previous close of PKR 75.83.
So Far in the Current Financial and Calendar Years. Over the past financial year, Pakistani Rupee Exchange Rate has declined by 0.12% against US dollar, yet has appreciated by 3.19 rupees or 1.15% during calendar year 2019.
MONEY MARKET UPDATE
On the money market, 6-month Karachi Interbank Bid and Offer rates (KIBOR) saw an overall decline of 63 basis points to 17.69% and 17.94%, following auction results which showed rates dropping up to 148% basis points – reinforcing expectations of more monetary easing measures in Pakistan.
