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Pak Rupee gains over 10 paisa against USD

PKR loses over 18 paisa against USD
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April 02, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 10.12 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 277.84 per USD, compared to the previous session's closing of PKR 277.94 per USD.

The currency saw an intraday high (bid) of 278.1 and a low (ask) of 277.85.

In the open market, exchange companies quoted the dollar at 277.75 for buying and 277.9 for selling.

In a noteworthy achievement, the home unit has extended its winning streak against the mighty greenback, with March marking the fourth consecutive monthly victory.

The USDPKR exchange dropped to 277.95 by the end of the month, around 1.16 rupees or 0.42% lower than the quoted closing rate of 279.11 in February.

However, the country continues to face problems on the trade front, as the deficit for March widened by 24.56% MoM to $2.17 billion, compared to a negative balance of $1.74 billion recorded in February 2024.

Exports have shown a marginal drop, while imports are once again witnessing a rise.

In comparison to major currencies, PKR gained 1.33 rupees against the Euro, closing at 298.42 compared to the previous value of 299.75.

The British Pound became cheaper by 1.98 rupees closing at 348.77 compared to 350.74 from a day ago.

The Swiss franc saw losses of 2.34 rupees, closing at 306.07 compared to 308.41 from the previous session.

Against the Japanese Yen, PKR gained 0.47 paisa, closing at 1.8315 versus 1.8362 a day ago.

The Chinese Yuan lost 4.19 paisa, closing at 38.4 against 38.44 from the previous session.

The Saudi Riyal closed at 74.07 with a loss of 3.29 paisa from its value of 74.11 a day ago.

The U.A.E Dirham decreased in value by 3.28 paisa from 75.65 a day ago to 75.68.

During the current financial year, PKR has appreciated against the Dollar by 8.16 rupees or 2.94%. While the current calendar year has seen PKR appreciate by 4.03 rupees or 1.45%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 4 bps to 21.41% and 21.66%.

Performance Summary

Currency Apr 02, 2024 Apr 01, 2024 Change 1 Month FYTD CYTD 1 Day 7 Day 1 Month MTD FYTD CYTD
USD 277.8353 277.9365 0.1012 1.3579 8.1552 4.0254 0.04% 0.09% 0.49% 0.04% 2.94% 1.45%
EUR 298.4229 299.7545 1.3316 3.6363 14.5079 13.0754 0.45% 1.01% 1.22% 0.38% 4.86% 4.38%
GBP 348.7666 350.7419 1.9753 4.1057 15.3707 9.8306 0.57% 0.86% 1.18% 0.6% 4.41% 2.82%
CHF 306.0703 308.4072 2.3369 8.9396 13.6865 28.9995 0.76% 0.85% 2.92% 0.72% 4.47% 9.47%
JPY 1.8315 1.8362 0.0047 0.0228 0.1608 0.158 0.26% 0.33% 1.24% 0.26% 8.78% 8.63%
SAR 74.0736 74.1065 0.0329 0.372 2.1804 1.0892 0.04% 0.09% 0.5% 0.05% 2.94% 1.47%
AED 75.6508 75.6836 0.0328 0.3636 2.211 1.0919 0.04% 0.1% 0.48% 0.05% 2.92% 1.44%
CNY 38.3997 38.4416 0.0419 0.3849 1.27 1.2317 0.11% 0.32% 1% 0.2% 3.31% 3.21%

52 Week Performance

Currency High Low Trading Band % Since High % Since Low High Date Low Date Days Since High Days Since Low
USD 275.438 307.1 31.6619 -0.86% 10.53% 04-Jul-23 05-Sep-23 273 210
EUR 291.618 332.701 41.083 -2.28% 11.49% 16-Oct-23 31-Aug-23 169 215
GBP 337.032 387.972 50.9401 -3.36% 11.24% 16-Oct-23 31-Aug-23 169 215
CHF 306.458 347.163 40.7049 0.13% 13.43% 13-Oct-23 31-Aug-23 172 215
JPY 1.851 2.2178 0.3668 1.06% 21.09% 16-Oct-23 11-May-23 169 327
SAR 73.4412 81.8703 8.429 -0.85% 10.53% 04-Jul-23 05-Sep-23 273 210
AED 74.9888 83.6089 8.620 -0.88% 10.52% 04-Jul-23 05-Sep-23 273 210
CNY 37.8634 43.0908 5.2274 -1.4% 12.22% 16-Oct-23 11-May-23 169 327

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Posted on: 2024-04-02T14:41:35+05:00