February 13, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 1.29 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 279.31 per USD, compared to the previous session's closing of PKR 279.33 per USD.
The currency saw an intraday high (bid) of 279.6 and a low (ask) of 279.3.
In the open market, exchange companies quoted the dollar at 279.25 for buying and 281.25 for selling.
The financial markets are embracing the incoming government following last week's elections in the country.
However, the uncertainty arising from delays in election results has adversely impacted the financial markets.
The election outcome points to increased political instability, casting a darker shadow over growth and prospects for securing International Monetary Fund (IMF) aid the country needs to avoid default, said Bloomberg.
This was the primary reason the home unit witnessed a drop in the previous session against the mighty Dollar.
In comparison to major currencies, PKR gained 76.81 paisa against the Euro, closing at 300.88 compared to the previous value of 301.65.
The British Pound became expensive by 17.93 paisa closing at 353.36 compared to 353.18 from a day ago.
The Swiss franc saw losses of 2.56 rupees, closing at 317.3 compared to 319.85 from the previous session.
Against the Japanese Yen, PKR gained 0.73 paisa, closing at 1.8669 versus 1.8742 a day ago.
The Chinese Yuan lost 0.18 paisa, closing at 38.83 against 38.83 from the previous session.
The Saudi Riyal closed at 74.48 with a loss of 0.54 paisa from its value of 74.49 a day ago.
The U.A.E Dirham decreased in value by 0.45 paisa from 76.05 a day ago to 76.05.
During the current financial year, PKR has appreciated against the Dollar by 6.68 rupees or 2.39%. While the current calendar year has seen PKR appreciate by 2.55 rupees or 0.91%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched up by 4 bps to 21.16% and 21.41%.
Performance Summary
| Currency | Feb 13, 2024 | Feb 12, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 279.3147 | 279.3276 | 0.0129 | 1.0423 | 6.6758 | 2.546 | 0% | 0.04% | 0.37% | 0.07% | 2.39% | 0.91% |
| EUR | 300.8778 | 301.6459 | 0.7681 | 6.9682 | 12.053 | 10.6205 | 0.26% | -0.13% | 2.32% | 0.48% | 4.01% | 3.53% |
| GBP | 353.3611 | 353.1818 | -0.1793 | 4.823 | 10.7762 | 5.2361 | -0.05% | -0.7% | 1.36% | 0.26% | 3.05% | 1.48% |
| CHF | 317.295 | 319.853 | 2.558 | 11.7818 | 2.4618 | 17.7748 | 0.81% | 1.22% | 3.71% | 2% | 0.78% | 5.6% |
| JPY | 1.8669 | 1.8742 | 0.0073 | 0.0673 | 0.1254 | 0.1226 | 0.39% | 0.78% | 3.6% | 1.39% | 6.72% | 6.57% |
| SAR | 74.48 | 74.4854 | 0.0054 | 0.2739 | 1.774 | 0.6828 | 0.01% | 0.04% | 0.37% | 0.07% | 2.38% | 0.92% |
| AED | 76.0475 | 76.052 | 0.0045 | 0.2858 | 1.8143 | 0.6952 | 0.01% | 0.04% | 0.38% | 0.06% | 2.39% | 0.91% |
| CNY | 38.8282 | 38.83 | 0.0018 | 0.3109 | 0.8415 | 0.8032 | 0% | 0.05% | 0.8% | 0.24% | 2.17% | 2.07% |
52 Week Performance
| Currency | High | Low | Trading Band | % Since High | % Since Low | High Date | Low Date | Days Since High | Days Since Low |
|---|---|---|---|---|---|---|---|---|---|
| USD | 259.923 | 307.1 | 47.1771 | -6.94% | 9.95% | 27-Feb-23 | 05-Sep-23 | 351 | 161 |
| EUR | 274.296 | 332.701 | 58.4043 | -8.83% | 10.58% | 27-Feb-23 | 31-Aug-23 | 351 | 166 |
| GBP | 310.789 | 387.972 | 77.183 | -12.05% | 9.79% | 27-Feb-23 | 31-Aug-23 | 351 | 166 |
| CHF | 275.926 | 347.163 | 71.2367 | -13.04% | 9.41% | 27-Feb-23 | 31-Aug-23 | 351 | 166 |
| JPY | 1.851 | 2.2178 | 0.3668 | -0.85% | 18.8% | 16-Oct-23 | 11-May-23 | 120 | 278 |
| SAR | 69.2748 | 81.8703 | 12.5955 | -6.99% | 9.92% | 27-Feb-23 | 05-Sep-23 | 351 | 161 |
| AED | 70.7677 | 83.6089 | 12.8412 | -6.94% | 9.94% | 27-Feb-23 | 05-Sep-23 | 351 | 161 |
| CNY | 37.3219 | 43.0908 | 5.7689 | -3.88% | 10.98% | 27-Feb-23 | 11-May-23 | 351 | 278 |
Copyright Mettis Link News
Posted on: 2024-02-13T15:28:39+05:00
