On Wednesday, the Pakistani Rupee (PKR) appreciated by 7.72 paisa or 0.03% against the US Dollar (USD), closing at PKR 278.54 per USD in the interbank market, compared to the previous close of PKR 278.62. The currency saw an intraday high bid of 278.70 and a low ask of 278.50 during the session.
OPEN MARKET DOLLAR RATES
In the open market, exchange companies quoted the dollar at PKR 279.47 for buying and PKR 280.95 for selling, reflecting the ongoing volatility in currency exchange rates.
PKR PERFORMANCE AGAINST MAJOR CURRENCIES
- Euro (EUR): PKR closed at 307.51, remaining stable against the Euro.
- British Pound (GBP): The British Pound became cheaper by 40.75 paisa, closing at 364.35 compared to the previous close of 364.75.
- Swiss Franc (CHF): PKR lost ground to the Swiss Franc, which gained 1.07 rupees, closing at 329.30 compared to 328.23 from the previous session.
- Japanese Yen (JPY): PKR saw a minor depreciation of 3.1 paisa against the Japanese Yen, closing at 1.9705 from 1.9395 a day ago.
- Chinese Yuan (CNY): The Yuan gained 2.96 paisa, with PKR closing at 39.16 against 39.13 in the previous session.
- Saudi Riyal (SAR): The PKR lost 3.44 paisa, closing at 74.23 compared to 74.27 the previous day.
- U.A.E Dirham (AED): The Dirham also saw a minor depreciation in PKR, decreasing by 1.9 paisa, with the rupee closing at 75.86 from 75.84 a day earlier.
YEAR-TO-DATE PERFORMANCE
For the current financial year, the PKR has depreciated against the Dollar by 20.11 paisa or 0.07%. However, for the calendar year so far, the PKR has appreciated by 3.32 rupees or 1.19%.
MONEY MARKET STABILITY
In the money market, the benchmark 6-Month Karachi Interbank Bid and Offer Rates (KIBOR) remained unchanged at 17.48% (bid) and 17.73% (offer), maintaining steady levels.
