Pakistani Rupee slips 4 paisa against USD

MG News | March 06, 2024 at 04:07 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

March 06, 2024 (MLN): The Pakistani rupee (PKR) continued its downturn for the fourth consecutive session, depreciating by 4 paisa against the US dollar in Wednesday's interbank session to settle at PKR 279.35 per USD, compared to the previous session's closing of PKR 279.31 per USD.

The currency saw an intraday high (bid) of 279.7 and a low (ask) of 279.

In the open market, exchange companies quoted the dollar at 279.47 for buying and 282.00 for selling.

The uncertainty surrounding the general elections held in the country on February 08, has somewhat disrupted the stable phase the home unit maintained against the USD for a significant period.

It is crucial to note that Shehbaz Sharif was elected on Sunday as the prime minister of the country for a second term.

According to the newly elected prime minister, Pakistan needs deep surgery to bring revolutionary changes in the system and reform various sectors.

The International Monetary Fund (IMF) has also expressed its eagerness to collaborate with the new government on policies to ensure macroeconomic stability.

In comparison to major currencies, PKR lost 32.27 paisa against the Euro, closing at 303.41 compared to the previous value of 303.08.

The British Pound became expensive by 93.07 paisa closing at 355.06 compared to 354.13 from a day ago.

The Swiss franc saw gains of 45.54 paisa, closing at 315.9 compared to 315.45 from the previous session.

Against the Japanese Yen, PKR lost 1.08 paisa, closing at 1.868 versus 1.8572 a day ago.

The Chinese Yuan gained 0.45 paisa, closing at 38.8 against 38.8 from the previous session.

The Saudi Riyal closed at 74.48 with a gain of 0.86 paisa from its value of 74.48 a day ago.

The U.A.E Dirham increased in value by 0.88 paisa from 76.06 a day ago to 76.05.

During the current financial year, PKR has appreciated against the Dollar by 6.64 rupees or 2.38%. While the current calendar year has seen PKR appreciate by 2.51 rupees or 0.9%.

In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates inched down by 3 bps to 21.28% and 21.53%.

Performance Summary

Currency	Mar 06, 2024	Mar 05, 2024	Change	1 Month	FYTD	CYTD	1 Day	7 Day	1 Month	MTD	FYTD	CYTD
USD	279.3535	279.3136	-0.0399	-0.0118	6.637	2.5072	-0.01%	-0.08%	0%	-0.09%	2.38%	0.9%
EUR	303.4059	303.0832	-0.3227	-2.8063	9.5249	8.0924	-0.11%	-0.42%	-0.92%	-0.33%	3.14%	2.67%
GBP	355.0584	354.1277	-0.9307	-2.5292	9.0789	3.5388	-0.26%	-0.49%	-0.71%	-0.51%	2.56%	1%
CHF	315.9036	315.4482	-0.4554	4.571	3.8532	19.1662	-0.14%	0.31%	1.45%	0.56%	1.22%	6.07%
JPY	1.868	1.8572	-0.0108	0.0186	0.1243	0.1215	-0.58%	-0.9%	1%	-0.15%	6.65%	6.5%
SAR	74.4843	74.4757	-0.0086	0.0008	1.7697	0.6785	-0.01%	-0.08%	0%	-0.08%	2.38%	0.91%
AED	76.058	76.0492	-0.0088	-0.0042	1.8038	0.6847	-0.01%	-0.09%	-0.01%	-0.09%	2.37%	0.9%
CNY	38.8026	38.7981	-0.0045	0.0248	0.8671	0.8288	-0.01%	-0.08%	0.06%	-0.01%	2.23%	2.14%

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	-1.4%	9.93%	04-Jul-23	05-Sep-23	246	183
EUR	291.618	332.701	41.083	-3.89%	9.66%	16-Oct-23	31-Aug-23	142	188
GBP	329.977	387.972	57.9953	-7.06%	9.27%	08-Mar-23	31-Aug-23	364	188
CHF	296.118	347.163	51.0447	-6.26%	9.9%	08-Mar-23	31-Aug-23	364	188
JPY	1.851	2.2178	0.3668	-0.91%	18.73%	16-Oct-23	11-May-23	142	300
SAR	73.4412	81.8703	8.4291	-1.4%	9.92%	04-Jul-23	05-Sep-23	246	183
AED	74.9888	83.6089	8.6201	-1.41%	9.93%	04-Jul-23	05-Sep-23	246	183
CNY	37.8634	43.0908	5.2274	-2.42%	11.05%	16-Oct-23	11-May-23	142	300

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,419.72 133.15M	0.14% 233.55
ALLSHR	100,871.92 395.66M	0.05% 48.64
KSE30	49,316.65 59.50M	0.05% 23.11
KMI30	239,907.60 63.28M	-0.05% -114.34
KMIALLSHR	65,473.69 245.25M	-0.00% -2.07
BKTi	45,849.28 9.86M	0.23% 104.46
OGTi	33,523.02 3.37M	-0.51% -171.71

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,620.00	81,795.00 80,850.00	20.00 0.02%
BRENT CRUDE	109.95	110.00 104.91	4.03 3.80%
RICHARDS BAY COAL MONTHLY	128.50	0.00 0.00	0.05 0.04%
ROTTERDAM COAL MONTHLY	145.10	0.00 0.00	0.15 0.10%
USD RBD PALM OLEIN	1,167.50	1,167.50 1,167.50	0.00 0.00%
CRUDE OIL - WTI	99.04	99.34 95.29	2.54 2.63%
SUGAR #11 WORLD	20.85	21.01 20.47	-0.28 -1.33%