USD TO PKR INTERBANK RATE: Thursday’s interbank trading, the value of the Pakistani rupee (PKR) increased by 05 paisas in relation to the US dollar, finishing at PKR281.67 from PKR PKR281.72 a day earlier.

OPEN MARKET RATES: Exchange companies quoted the dollar at 281 for buying and 283 for selling in the open market. PKR in the previous session closed at 281.5 for buying and 283.5 for selling. The change reflects an appreciation of Pakistani Rupee against the US Dollar in the open market.

The anticipation of an approval of the second loan tranche by the International Monetary Fund (IMF) for $700 million has contributed to the positive sentiment in the market, which is helping the local currency.

Emphasising that Pakistan is on the agenda of the January 11, 2024, IMF meeting is imperative.

PKR AGAINST MAJOR CURRENCIES

The rupee appreciated 56.27 paisa against the euro relative to other major currencies, closing at 308.07 from its previous value of 308.63.

From 356.24 a day earlier to 357.49 today, the British Pound gained 1.25 rupees in value.

After closing at 332.15, down from 331.25 in the previous session, the Swiss franc saw gains of 75.99 paisa.

After gaining 1.18 paisa against the Japanese yen, PKR closed at 1.964, up from 1.9758 the previous day.

Closing at 39.38 against the previous session’s 39.43, the Chinese Yuan lost 4.96 paisa.

A day earlier, the Saudi Riyal was trading at 75.12; it closed at 75.15, down 1.75 paisa.

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