PKR GAINED ALMOST 5 PAISAS VERSUS THE USD SETTLING AT PKR 278.08

In Tuesday’s interbank session, the Pakistani rupee (PKR) demonstrated resilience, appreciating by approximately 5 paisa against the US dollar. The currency concluded trading at PKR 278.08 per USD, marking a slight improvement compared to the previous session’s closing rate of PKR 278.13 per USD.

PKR INTERBANK EXCHANGE RATES ON MARCH 26, 2024

INTRADAY FLUCTUATIONS

Throughout the trading day, the Pakistani rupee witnessed fluctuations, with an intraday high (bid) of 278.4 and a low (ask) of 278.1. These variations reflect the dynamic nature of currency markets and the impact of various economic factors on exchange rates.

Last week, the Pakistani rupee continued its positive momentum against the US dollar, gaining by 60 paisa. This extended winning streak underscores the currency’s resilience and highlights shifting market dynamics.

OPEN MARKET RATES

In the open market, exchange companies quoted the dollar at PKR 277.83 for buying and PKR 278.08 for selling. These rates provide insights into the prevailing sentiments among currency traders and reflect the demand-supply dynamics in the open market segment.

PKR OPEN MARKET RATES

The Exchange Companies Association of Pakistan released the opening rates of foreign currencies in the kerb market on Tuesday. Here are the buying and selling rates for select currencies:

• USD: Buying at PKR 278.15, Selling at PKR 280.90
• EURO: Buying at PKR 299.75, Selling at PKR 302.75
• GBP: Buying at PKR 349.65, Selling at PKR 353.10
• JPY: Buying at PKR 1.82, Selling at PKR 1.85
• AED: Buying at AED 75.45, Selling at AED 76.20
• SAR: Buying at SAR 73.70, Selling at SAR 74.45
• CAD: Buying at PKR 203.50, Selling at PKR 205.50
• AUD: Buying at PKR 180.50, Selling at PKR 182.50

These rates serve as benchmarks for currency exchange transactions and provide valuable insights for traders and investors navigating the forex market.