In Thursday’s interbank session, the Pakistani rupee (PKR) experienced a slight depreciation of 10 paisas against the US dollar, settling at PKR 278.2 per USD, compared to the previous session’s closing of PKR 278.1 per USD. Throughout the session, the currency recorded an intraday high (bid) of 278.33 and a low (ask) of 278.13. In the open market, exchange companies quoted the dollar at 276.57 for buying and 279.11 for selling.
Against major currencies, PKR exhibited a mixed performance:
- Euro: PKR edged higher, closing at 298.62 compared to the previous value of 298.62.
- British Pound: Became more expensive by 29.25 paisa, closing at 347.11 compared to 346.82 from a day ago.
- Swiss Franc: Saw gains of 21.18 paisa, closing at 306.09 compared to 305.87 from the previous session.
- Japanese Yen: PKR gained 0.49 paisa, closing at 1.7853 versus 1.7902 a day ago.
- Chinese Yuan: Gained 1.58 paisa, closing at 38.5 against 38.49 from the previous session.
- Saudi Riyal: Closed at 74.18 with a gain of 2.59 paisa from its value of 74.15 a day ago.
- U.A.E Dirham: Increased in value by 3.16 paisa from 75.74 a day ago to 75.71.
During the current financial year, PKR has appreciated against the Dollar by 7.79 rupees or 2.8%. Meanwhile, in the current calendar year, PKR has appreciated by 3.66 rupees or 1.32%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates slightly decreased by 1 bps to 21.33% and 21.58%.
Additionally, the State Bank of Pakistan (SBP) conducted a reverse repo Open Market Operation (OMO) today, injecting a total of Rs393.75 billion into the market.
