On Thursday, the Pakistani rupee (PKR) appreciated against the US dollar in the interbank market, reflecting a positive shift in the currency’s valuation.
Interbank Market Performance
USD TO PKR
- Closing Rate: PKR 278.3 per USD
- Previous Session Closing Rate: PKR 278.47 per USD
- Appreciation: 17.32 paisa
Intraday Performance:
- High (Bid): PKR 278.5
- Low (Ask): PKR 278.3
Open Market Performance
- Buying Rate: PKR 277.25 per USD
- Selling Rate: PKR 280.00 per USD
PKR Performance Against Major Currencies
Euro:
- Closing Rate: PKR 301.68
- Previous Session Rate: PKR 302.31
- Appreciation: 63.34 paisa
British Pound:
- Closing Rate: PKR 353.86
- Previous Session Rate: PKR 354.89
- Appreciation: 1.03 rupees
Swiss Franc:
- Closing Rate: PKR 304.44
- Previous Session Rate: PKR 305.04
- Appreciation: 60.66 paisa
Japanese Yen:
- Closing Rate: PKR 1.7759
- Previous Session Rate: PKR 1.7802
- Appreciation: 0.43 paisa
Chinese Yuan:
- Closing Rate: PKR 38.42
- Previous Session Rate: PKR 38.46
- Appreciation: 4.96 paisa
Saudi Riyal:
- Closing Rate: PKR 74.2
- Previous Session Rate: PKR 74.25
- Appreciation: 4.62 paisa
AED TO PKR
U.A.E Dirham:
- Closing Rate: PKR 75.82
- Previous Session Rate: PKR 75.77
- Appreciation: 4.82 paisa
Yearly Performance
- Appreciation Against USD (FY): 7.69 rupees or 2.76%
- Appreciation Against USD (CY): 3.56 rupees or 1.28%
Money Market
Karachi Interbank Bid and Offer Rates (KIBOR):
- 6-Month Bid Rate: 21.02% (up by 1 bps)
- 6-Month Offer Rate: 21.27% (up by 1 bps)
Summary
The PKR’s appreciation against the USD and other major currencies indicates a strengthening of the local currency. This positive movement is complemented by stable interbank rates and favorable conditions in the open market. However, the uptick in KIBOR suggests a cautious approach by the market towards future monetary policies. Overall, the PKR’s performance reflects a stable economic outlook for Pakistan in the near term.
