In Friday’s interbank session, the Pakistani rupee (PKR) appreciated by 19.03 paisa against the US dollar, closing at PKR 278.2 per USD compared to the previous session’s closing of PKR 278.39 per USD. The rupee experienced an intraday high (bid) of 278.75 and a low (ask) of 278.65.
On a weekly basis, the local currency recorded a modest gain of 13 paisa against the USD.
In the open market, exchange companies quoted the dollar at 277.75 for buying and 280.50 for selling.
Performance Against Major Currencies:
- Euro: PKR lost 23.82 paisa, closing at 302.96 from 302.72.
- British Pound: PKR depreciated by 17.41 paisa, closing at 356.04 compared to 355.87.
- Swiss Franc: PKR gained 76.77 paisa, closing at 312.67 from 311.9.
- Japanese Yen: PKR lost 0.87 paisa, closing at 1.7892 compared to 1.7805.
- Chinese Yuan: PKR lost 0.53 paisa, closing at 38.41 from 38.41.
- Saudi Riyal: PKR depreciated by 5.07 paisa, closing at 74.18 from 74.23.
- U.A.E Dirham: PKR decreased by 5.28 paisa, closing at 75.79 from 75.74.
Yearly Performance:
During the current financial year, the PKR has appreciated against the dollar by 7.79 rupees, or 2.8%. Over the current calendar year, the rupee has seen an appreciation of 3.66 rupees, or 1.32%.
Money Market Overview:
The benchmark 6-month Karachi Interbank Bid and Offer rates inched down by 3 basis points to 20.45% and 20.7%, respectively.
Additionally, the State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah-based Open Market Operation (OMO) today, injecting a total of Rs10.61 trillion into the market.
