The Pakistani Rupee (PKR) strengthened by 1.29 paisa against the US dollar during Tuesday’s interbank session, according to the State Bank of Pakistan. The currency settled the trade at PKR 279.31 per USD, marking a slight gain compared to the previous session’s closing of PKR 279.33 per USD.
Interbank closing #ExchangeRate for today https://t.co/1FKQ00Lr58#SBPExchangeRate pic.twitter.com/NRjYKbB2TA
— SBP (@StateBank_Pak) February 13, 2024
PKR INTERBANK EXCHANGE RATES
Latest insights on the Pakistani Rupee (PKR) with the most recent Interbank Exchange Rates for mark-to-market revaluation, as provided by the State Bank of Pakistan (SBP).
PKR INTERBANK EXCHANGE RATES ON FEBRUARY 13, 2024
| Currency | Rate |
|---|---|
| USD | 279.31 |
| EUR | 300.88 |
| GBP | 353.36 |
| JPY | 1.8669 |
| AED | 76.05 |
| SAR | 74.48 |
FINANCIAL MARKETS AMID ELECTION RESULTS
The financial markets are currently adjusting to the outcomes of last week’s elections in the country. However, the uncertainty stemming from delays in election results has contributed to volatility in the financial markets. This uncertainty has been a cause for concern among investors and analysts alike.
IMPACT ON POLITICAL STABILITY AND IMF AID
The election outcome has raised concerns about increased political instability, casting a shadow over economic growth and the prospects for securing International Monetary Fund (IMF) aid. Bloomberg highlighted these concerns, emphasizing the importance of political stability in ensuring financial stability and access to external financial support.
PREVIOUS SESSION’S DROP
The uncertainty surrounding the election results was a primary factor behind the drop witnessed by the Pakistani Rupee in the previous session against the US Dollar. This underscores the interconnectedness of political developments and currency fluctuations in the global financial landscape.
