In Thursday’s interbank session, the Pakistani rupee (PKR) showcased a slight appreciation against the US dollar, settling at PKR 278.3 per USD. This marked a marginal improvement compared to the previous session’s closing rate of PKR 278.31 per USD.
Throughout the trading session, the currency observed an intraday high (bid) of 278.55 and a low (ask) of 278.35.
Meanwhile, in the open market, exchange companies quoted the dollar at PKR 276.92 for buying and PKR 279.63 for selling.
It’s worth noting that the domestic currency ended April with a loss of approximately 37 paisa against the US dollar.
In comparison to major currencies, the PKR experienced varied movements:
- Against the Euro, PKR lost 15.18 paisa, closing at 298.12 compared to the previous value of 297.96.
- The British Pound became cheaper by 47.7 paisa, closing at 348.52 compared to 348.99 from a day ago.
- The Swiss franc saw gains of 11.81 paisa, closing at 304.99 compared to 304.87 from the previous session.
- Against the Japanese Yen, PKR lost 1.46 paisa, closing at 1.7895 versus 1.7749 a day ago.
- The Chinese Yuan gained 0.1 paisa, closing at 38.43 against 38.43 from the previous session.
- The Saudi Riyal closed at 74.2 with a loss of 0.08 paisa from its value of 74.21 a day ago.
- The U.A.E Dirham decreased in value by 0.28 paisa from 75.77 a day ago to 75.78.
Throughout the current financial year, PKR has appreciated against the Dollar by 7.69 rupees or 2.76%. Similarly, the current calendar year has seen PKR appreciate by 3.56 rupees or 1.28%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates slightly inched up by 4 bps to 21.33% and 21.58%.
During Tuesday’s Market Treasury Bill (MTB) auction, the central bank raised Rs252.92 billion for 3, 6, and 12 months against a target of Rs300bn with yields remaining unchanged.
