PKR decreases by 6 paisa against USD

October 31, 2024 (MLN): The Pakistani rupee (PKR) deteriorated by 5.77 paisa or 0.02% against the US dollar in Thursday's interbank session to settle the trade at PKR 277.85 per USD, compared to previous closing of 277.79.

Throughout the day, the currency saw an intraday high (bid) of 277.90 and a low (ask) of 277.80.

The government conducted an auction yesterday and slashed the rate of treasury bills by up to 140 basis points. That comes just days before the announcement of mone­tary policy.

In the open market, exchange companies quoted the dollar at 276.84 for buying and 278.72 for selling.

In comparison to major currencies, PKR decreased 96.55 paisa or 0.32% against the Euro, closing at 301.69 compared to the previous value of 300.72.

Against the British Pound, PKR appreciated by 31.39 paisa or 0.09% to 361.02 compared to 361.34 a day ago.

The local unit decreased 88.10 paisa or 0.28% against Swiss franc to close at 321.12.

Against the Japanese Yen, PKR's value weakened 1.34 paisa or 0.74% to close the session at 1.8260 versus 1.8126 a day ago.

Pakistani Rupee deteriorated 3.68 paisa or 0.09% against Chinese Yuan to close at 39.03 from 38.99.

The local currency depreciated by 1.34 paisa or 0.02% against Saudi Riyal to 73.98. While it weakened by 1.57 paisa or 0.02% against the U.A.E Dirham to close at 75.65.

During the current fiscal year, PKR has gained against the US Dollar by 49.12 paisa or 0.18%. While it has strengthened 4.01 rupees or 1.44% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates fell by 32 bps to 13.31% and 13.56%.

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