PKR continues to rise against USD, gains 12 paisa in interbank market

January 24, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 11.9 paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 279.67 per USD, compared to the previous session's closing of PKR 279.79 per USD.

Throughout the session, the currency saw an intraday high (bid) of 279.9 and a low (ask) of 279.6.

In the open market, exchange companies quoted the dollar at 278.81 for buying and 280.86 for selling.

In comparison to major currencies, PKR gained 82.89 paisa against the Euro, closing at 304.2 compared to the previous value of 305.03.

The British Pound became cheaper by 71.09 paisa closing at 355.63 compared to 356.34 from a day ago.

The Swiss franc saw losses of 30.45 paisa, closing at 322.32 compared to 322.62 from the previous session.

Against the Japanese Yen, PKR gained 0.58 paisa, closing at 1.8935 versus 1.8993 a day ago.

The Chinese Yuan gained 0.74 paisa, closing at 39.03 against 39.03 from the previous session.

The Saudi Riyal closed at 74.57 with a loss of 2.88 paisa from its value of 74.6 a day ago.

The U.A.E Dirham decreased in value by 3.34 paisa from 76.14 a day ago to 76.18.

During the current financial year, PKR has appreciated against the Dollar by 6.32 rupees or 2.26%. While the current calendar year has seen PKR appreciate by 2.19 rupees or 0.78%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 3 bps to 20.57% and 20.82%.

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