USD TO PKR: The Pakistani rupee (PKR) depreciated by 9.86 paisa against the US dollar in Thursday’s interbank session, closing at PKR 278.61 per USD, down from the previous session’s closing of PKR 278.51 per USD. The currency experienced an intraday high (bid) of 278.80 and a low (ask) of 278.60.
OPEN MARKET EXCHANGE RATES
In the open market, exchange companies quoted the dollar at 278.95 for buying and 280.55 for selling.
PKR PERFORMANCE AGAINST MAJOR CURRENCIES
- Euro to PKR: PKR lost 71.96 paisa, closing at 302.01 compared to 301.29.
- British Pound to PKR: The Pound increased by 2.16 rupees, closing at 358.57 compared to 356.41.
- Swiss Franc to PKR: The Franc decreased by 56.37 paisa, closing at 309.91 compared to 310.47.
- Japanese Yen to PKR: PKR gained 0.05 paisa, closing at 1.7242 compared to 1.7247.
- Chinese Yuan to PKR: PKR gained 4.04 paisa, closing at 38.32 compared to 38.28.
- Saudi Riyal to PKR: The Riyal gained 2.63 paisa, closing at 74.28 compared to 74.26.
- U.A.E Dirham to PKR: The Dirham increased by 2.69 paisa, closing at 75.83 compared to 75.85.
YEAR-TO-DATE PERFORMANCE
During the current financial year, PKR has depreciated against the Dollar by 26.79 paisa or 0.1%. However, in the current calendar year, PKR has appreciated by 3.25 rupees or 1.17%.
MONEY MARKET UPDATE
In the money market, the benchmark 6-month Karachi Interbank Bid and Offer rates fell by 12 bps to 19.71% and 19.96%, respectively.
MARKET TREASURY BILLS AUCTION
The State Bank of Pakistan (SBP) conducted an auction, selling Market Treasury Bills (MTBs) worth Rs441.76 billion. Yields on 3-month papers dropped by 10 bps to 20.0494%, while yields on 6-month papers fell by 18 bps to 19.7849%. Yields on 12-month papers remained unchanged at 18.5400%.
