The Pakistani Rupee (PKR) appreciated by 4.79 paisa or 0.02% against the US dollar in Friday’s interbank session, settling at PKR 277.64 per USD, compared to the previous close of PKR 277.69. The currency saw an intraday high (bid) of PKR 277.85 and a low (ask) of PKR 277.75, reflecting minor fluctuations during the trading day.
PKR MAINTAINS WEEKLY GAIN AGAINST USD
On a weekly basis, the PKR gained 20 paisa against the US dollar, continuing its steady appreciation despite ongoing economic pressures.
OPEN MARKET RATES REMAIN HIGHER
In the open market, exchange companies quoted the dollar at PKR 279.41 for buying and PKR 280.7 for selling, slightly higher than the interbank rate, reflecting continued demand for foreign currency.
PKR’S PERFORMANCE AGAINST OTHER MAJOR CURRENCIES
PKR LOSES AGAINST EURO AND BRITISH POUND
The PKR lost 16.88 paisa against the Euro, closing at PKR 309.19, compared to PKR 309.02 a day earlier. Similarly, the British Pound saw a notable increase in value against the PKR, with the currency closing at PKR 371.25, marking a rise of 92.17 paisa from the previous session.
PKR MIXED PERFORMANCE AGAINST OTHER CURRENCIES
- Swiss Franc: PKR depreciated by 85.2 paisa, closing at PKR 328.08.
- Japanese Yen: PKR lost 1.79 paisa, settling at PKR 1.9329.
- Chinese Yuan: PKR gained 3.72 paisa, closing at PKR 39.59.
- Saudi Riyal: PKR lost 0.29 paisa, ending at PKR 74.02.
- U.A.E. Dirham: PKR depreciated by 1.3 paisa, closing at PKR 75.6.
PKR APPRECIATION DURING THE CURRENT FISCAL AND CALENDAR YEAR
During the current financial year, the Pakistani Rupee has appreciated against the US Dollar by 70.22 paisa or 0.25%. Additionally, in the current calendar year, the PKR has gained by PKR 4.22 or 1.52%, showing signs of resilience despite economic challenges.
MONEY MARKET UPDATE
In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer Rates (KIBOR) dropped by 46 basis points, with rates falling to 15.18% (bid) and 15.43% (offer), reflecting easing liquidity pressures.
