In Friday’s interbank session, the Pakistani rupee (PKR) appreciated by 8.96 paisa against the US dollar, settling at PKR 278.51 per USD compared to the previous session’s closing of PKR 278.6 per USD. During the session, the currency experienced an intraday high (bid) of 278.95 and a low (ask) of 278.8.
In the open market, exchange companies quoted the dollar at 277.61 for buying and 280.32 for selling.
PKR Performance Against Major Currencies
- Euro: The PKR gained 1.21 rupees, closing at 297.56 compared to 298.77.
- British Pound: The currency appreciated by 1.78 rupees, ending at 352.29 from 354.07.
- Swiss Franc: The PKR saw a gain of 64.55 paisa, closing at 312.58 compared to 313.23.
- Japanese Yen: The rupee gained 0.58 paisa, closing at 1.7541 versus 1.7599.
- Chinese Yuan: The currency appreciated by 1.71 paisa, closing at 38.36 against 38.37.
- Saudi Riyal: The PKR closed at 74.24, appreciating by 2.39 paisa from 74.26.
- U.A.E Dirham: The currency gained 2.13 paisa, ending at 75.85 from 75.83.
Yearly Performance
During the current financial year, the PKR has appreciated against the Dollar by 7.48 rupees or 2.69%. The current calendar year has seen a gain of 3.35 rupees or 1.2%.
Money Market Update
In the Money Market, the benchmark 6-Month Karachi Interbank Bid and Offer rates inched up by 1 basis point to 19.86% and 20.11%, respectively.
The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah-compliant Modarabah-based Open Market Operation (OMO) today, cumulatively injecting a total of Rs2.6 trillion into the market. Of the total amount, Rs2.47 trillion were injected through reverse repo OMO, and the remaining Rs130 billion through Shariah-compliant Modarabah-based OMO.
