Pakistani Rupee continues to slide against Dollar, sheds 98 paisa

November 06, 2023 (MLN): The Pakistani rupee (PKR) depreciated by 97.64 paisa against the US dollar in Monday's interbank session as the currency settled the trade at PKR 285.29, compared to the previous day's closing of PKR 284.31.

The local unit saw an intraday high (bid) of 285.5 and a low (ask) of 284.75.

In the open market, the local unit lost 2 rupees as the exchange companies quoted the dollar at 284 for buying and 287 for selling compared to the previous closing of 282 for buying and 285 for selling.

To note, this marks the eleventh consecutive session in which the local currency has lost its value against the U.S. Dollar.

While last week, the local currency lost around 3.74 rupees against the greenback.

In comparison to major currencies, PKR lost 4.52 rupees against the Euro, closing at 306.6 compared to the previous value of 302.08.

The British Pound became expensive by 7.01 rupees, closing at 353.64 compared to 346.63 from a day ago.

Swiss franc saw gains of 4.83 rupees, closing at 318.19 compared to 313.36 from the previous session.

Against the Japanese Yen, PKR lost 1.76 paisa, closing at 1.908 versus 1.891 a day ago.

The Chinese Yuan gained 33.46 paisa, closing at 39.1969 against 38.8623 from the previous session.

The Saudi Riyal closed at 76.05 with a gain of 26.33 paisa from its value of 75.78 a day ago.

The U.A.E Dirham increased in value by 26.48 paisa from 77.407 a day ago to 77.672.

During the current financial year, PKR has appreciated against the Dollar by 0.7 rupees or 0.25%. While the current calendar year has seen PKR depreciate by 58.86 rupees or 20.63%.

In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates remain unchanged at 21.44% and 21.69%.

Performance Summary

52 Week Performance

Copyright Mettis Link News