The Pakistani rupee (PKR) maintained stability against the US dollar this week in the interbank session, closing the trade at PKR 278.21 per USD. On Friday alone, the local currency appreciated by 9.03 paisa against the dollar, ending the day at PKR 278.3 per USD, compared to the previous session’s close.
Throughout today’s trading, the rupee experienced an intraday high (bid) of 278.5 and a low (ask) of 278.3. In the open market, exchange companies quoted the dollar at 277.25 for buying and 280.00 for selling.
Performance Against Major Currencies
- Euro: The PKR gained 51.52 paisa, closing at 301.16 compared to 301.68.
- British Pound: The rupee appreciated by 51.82 paisa, ending at 353.34 from 353.86.
- Swiss Franc: The PKR saw a minor loss of 19.87 paisa, closing at 304.24 compared to 304.44.
- Japanese Yen: The rupee gained 0.45 paisa, closing at 1.7714 against 1.7759.
- Chinese Yuan: The PKR lost 1.38 paisa, finishing at 38.4 versus 38.42.
- Saudi Riyal: SAR TO PKR Closed at 74.18, down by 2.6 paisa from 74.2.
- U.A.E Dirham: AED TO PKR Decreased by 2.46 paisa, closing at 75.77 from 75.74.
Yearly and Calendar Year Appreciation
During the current financial year, the PKR has appreciated against the dollar by 7.78 rupees or 2.8%. For the calendar year, the rupee has appreciated by 3.65 rupees or 1.31%.
Money Market Updates
The benchmark 6 Month Karachi Interbank Bid and Offer rates remained steady at 21.02% and 21.27%, respectively. Additionally, the State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (OMO), injecting a cumulative total of Rs241.35 billion into the market.
