KARACHI — The Pakistani Rupee PKR surged by the most in over six months following the nation’s successful securing of a $7 billion loan deal from the International Monetary Fund (IMF) over the weekend.
USD TO PKR JUMPS 0.11% AGAINST On Monday, the rupee appreciated by 29 paisa or 0.11%, reaching 278.11 per dollar, marking the highest percentage increase since January. The currency hit an intraday high (bid) of 278.60 and a low (ask) of 278.10. A day earlier PKR also made a reversal against the Dollar!
OPEN MARKET RATES
In the open market, exchange companies quoted the dollar at 279.05 for buying and 280.5 for selling.
PERFORMANCE AGAINST OTHER MAJOR CURRENCIES
- Euro to PKR: The PKR lost 8.48 paisa, closing at 302.94 compared to 302.86.
- British Pound to PKR: The Pound increased by 94.24 paisa, closing at 360.97 compared to 360.03.
- Swiss Franc to PKR: The Franc saw a minor loss of 1.46 paisa, closing at 310.77 compared to 310.78.
- Japanese Yen to PKR: The PKR lost 1.24 paisa, closing at 1.7611 versus 1.7487.
- Chinese Yuan to PKR: The Yuan lost 6.01 paisa, closing at 38.29 against 38.35.
- Saudi Riyal to PKR: The Riyal decreased by 7.8 paisa, closing at 74.15 from 74.23.
- U.A.E Dirham to PKR: The Dirham decreased by 7.98 paisa, closing at 75.8 from 75.72.
YEAR-TO-DATE PERFORMANCE
During the current financial year, the PKR has appreciated against the Dollar by 23.4 paisa or 0.08%. In the current calendar year, the PKR has seen an appreciation of 3.75 rupees or 1.35%.
MONEY MARKET UPDATE
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 3 basis points to 19.67% and 19.92%.
