The Pakistani Rupee (PKR) experienced a slight depreciation against the US dollar during Thursday’s interbank session, declining by 19.23 paisa or 0.07%. The PKR closed at 278.64 per USD, down from the previous closing rate of 278.45. Throughout the trading day, the PKR fluctuated, reaching an intraday high (bid) of 278.80 and a low (ask) of 278.70.
PKR PERFORMANCE IN THE OPEN MARKET
In the open market, exchange companies quoted the US dollar at 279.13 for buying and 280 for selling. This reflects a slightly weaker PKR compared to its interbank performance.
PKR GAINS AGAINST MAJOR CURRENCIES
Despite its decline against the USD, the PKR showed strength against several major currencies:
- Euro: The PKR gained 1.12 rupees, closing at 309.6 compared to the previous value of 310.72.
- British Pound: The PKR appreciated by 38.65 paisa, closing at 368.07 down from 368.46 the previous day.
- Swiss Franc: The PKR strengthened by 50.26 paisa, ending at 330.75 compared to 330.25 from the prior session.
- Japanese Yen: The PKR saw a marginal gain of 0.01 paisa, closing at 1.926 versus 1.9261 the previous day.
- Chinese Yuan: The PKR increased by 13.78 paisa, closing at 39.2 against 39.06 from the last session.
- Saudi Riyal: The PKR rose by 4.93 paisa, closing at 74.26 compared to 74.21 a day ago.
- U.A.E Dirham: The PKR gained 5.24 paisa, closing at 75.81 from 75.86 in the prior session.
YEARLY PERFORMANCE OF PKR
During the current financial year, the PKR has depreciated against the US dollar by 30.11 paisa or 0.11%. However, on a calendar year basis, the PKR has appreciated by 3.22 rupees or 1.16% against the US dollar.
MONEY MARKET UPDATE
In the money market, the benchmark 6 Month Karachi Interbank Bid and Offer rates (KIBOR) slightly increased by 2 basis points, with the bid rate reaching 17.66% and the offer rate at 17.91%.
