PKR closes stable against USD on Friday

November 29, 2024 (MLN): The Pakistani rupee (PKR) settled Friday's trading session at PKR 278.05 per USD, nearly stable compared to yesterday's closing.

Throughout the day, the currency saw an intraday high (bid) of 278.00 and a low (ask) of 278.05.

In the open market, exchange companies quoted the dollar at 276.6 for buying and 279.1 for selling.

On a weekly basis, the home unit registered a loss of 29 paisa against USD.

In comparison to major currencies, PKR weakened 1.17 rupees or 0.40% against the Euro, closing at 294.00 compared to the previous value of 292.82.

Against the British Pound, PKR decreased by 1.76 rupees or 0.50% to 353.50 compared to 351.74 a day ago.

The local unit weakened 1.06 rupees or 0.34% against Swiss franc to close at 315.45.

Against the Japanese Yen, PKR's value weakened 2.14 paisa or 1.17% to close the session at 1.8525 versus 1.8311 a day ago.

Pakistani Rupee weakened 12.14 paisa or 0.32% against Chinese Yuan to close at 38.46 from 38.33.

The local currency rose by 1.53 paisa or 0.02% against Saudi Riyal to 74.02. While it depreciated by 0.16 paisa or 0.00% against the U.A.E Dirham to close at 75.70.

During the current fiscal year, PKR has gained against the US Dollar by 29.12 paisa or 0.10%. While it has strengthened 3.81 rupees or 1.37% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates dropped by 21bps to 12.42% and 12.67%.

The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (OMO) today, in which it cumulatively injected a total of Rs2.25 trillion into the market.

Of which Rs2.1tr were injected through reverse repo OMO. Meanwhile, the remaining Rs149 billion was injected through Shariah-compliant Modarabah-based OMO.

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