February 09, 2024 (MLN): The Pakistani rupee (PKR) extended its upward momentum for the 13th straight week, as the currency gained 12.88 paisa and settled at PKR 279.28 per USD this week, compared to the previous week's closing of PKR 279.41 per USD.
The home unit settled today's session with an appreciation of over 6 paisa after witnessing an intraday high (bid) of 279.9 and a low (ask) of 279.6.
In the open market, exchange companies quoted the dollar at 278.89 for buying and 281 for selling.
The financial markets are embracing the incoming government following yesterday's elections in the country.
Despite uncertainty arising from delays in election results, the PKR stood strong and notched another victory against the mighty Dollar.
In comparison to major currencies, PKR lost 26.91 paisa against the Euro, closing at 300.87 compared to the previous value of 300.6.
The British Pound became cheaper by 20.31 paisa closing at 352.33 compared to 352.53 from a day ago.
The Swiss franc saw losses of 1.59 rupees, closing at 318.89 compared to 320.47 from the previous session.
Against the Japanese Yen, PKR gained 1.71 paisa, closing at 1.8695 versus 1.8866 a day ago.
The Chinese Yuan lost 0.4 paisa, closing at 38.82 against 38.83 from the previous session.
The Saudi Riyal closed at 74.47 with a loss of 1.43 paisa from its value of 74.49 a day ago.
The U.A.E Dirham decreased in value by 1.57 paisa from 76.04 a day ago to 76.05.
During the current financial year, PKR has appreciated against the Dollar by 6.71 rupees or 2.4%. While the current calendar year has seen PKR appreciate by 2.58 rupees or 0.92%.
In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates moved up by 9 bps to 21.05% and 21.3%.
The yields have once again started to climb since the State Bank of Pakistan (SBP) maintained the policy rate at 22% for the fifth consecutive meeting.
Performance Summary
| Currency | Feb 09, 2024 | Feb 07, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 279.2804 | 279.3417 | 0.0613 | 1.8494 | 6.7101 | 2.5803 | 0.02% | 0.05% | 0.66% | 0.08% | 2.4% | 0.92% |
| EUR | 300.8687 | 300.5996 | -0.2691 | 6.2937 | 12.0621 | 10.6296 | -0.09% | 1.07% | 2.09% | 0.49% | 4.01% | 3.53% |
| GBP | 352.3261 | 352.5292 | 0.2031 | 4.6525 | 11.8112 | 6.2711 | 0.06% | 1.17% | 1.32% | 0.55% | 3.35% | 1.78% |
| CHF | 318.8861 | 320.4746 | 1.5885 | 10.9623 | 0.8707 | 16.1837 | 0.5% | 2.21% | 3.44% | 1.49% | 0.27% | 5.08% |
| JPY | 1.8695 | 1.8866 | 0.0171 | 0.0701 | 0.1228 | 0.12 | 0.91% | 1.97% | 3.75% | 1.25% | 6.57% | 6.42% |
| SAR | 74.4708 | 74.4851 | 0.0143 | 0.4911 | 1.7832 | 0.692 | 0.02% | 0.05% | 0.66% | 0.08% | 2.39% | 0.93% |
| AED | 76.0381 | 76.0538 | 0.0157 | 0.5056 | 1.8237 | 0.7046 | 0.02% | 0.04% | 0.66% | 0.07% | 2.4% | 0.93% |
| CNY | 38.8234 | 38.8274 | 0.004 | 0.3705 | 0.8463 | 0.808 | 0.01% | 0.24% | 0.95% | 0.25% | 2.18% | 2.08% |
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 | -6.93% | 9.96% | 27-Feb-23 | 05-Sep-23 | 347 | 157 |
| EUR | 274.296 | 332.701 | 58.4043 | -8.83% | 10.58% | 27-Feb-23 | 31-Aug-23 | 347 | 162 |
| GBP | 310.789 | 387.972 | 77.183 | -11.79% | 10.12% | 27-Feb-23 | 31-Aug-23 | 347 | 162 |
| CHF | 275.926 | 347.163 | 71.2367 | -13.47% | 8.87% | 27-Feb-23 | 31-Aug-23 | 347 | 162 |
| JPY | 1.851 | 2.2178 | 0.3668 | -0.99% | 18.63% | 16-Oct-23 | 11-May-23 | 116 | 274 |
| SAR | 69.2748 | 81.8703 | 12.5955 | -6.98% | 9.94% | 27-Feb-23 | 05-Sep-23 | 347 | 157 |
| AED | 70.7677 | 83.6089 | 12.8412 | -6.93% | 9.96% | 27-Feb-23 | 05-Sep-23 | 347 | 157 |
| CNY | 37.3219 | 43.0908 | 5.7689 | -3.87% | 10.99% | 27-Feb-23 | 11-May-23 | 347 | 274 |
Copyright Mettis Link News
Posted on: 2024-02-09T16:08:39+05:00
