PKR depreciates 3.78 rupees against USD

MG News | July 18, 2023 at 03:30 PM GMT+05:00

0:00

July 18, 2023 (MLN): The Pakistani rupee (PKR) depreciated by 3.78 rupees against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 283.04 per USD, compared to the previous session's closing of PKR 279.26 per USD.

The currency saw an intraday high (bid) of 283.53 and a low (ask) of 282.53.

In the open market, Exchange Companies quoted the dollar at 284 for buying and 287 for selling.

It's worth noting that China's Exim Bank has rolled over a $600 million loan for Pakistan, as announced by Prime Minister Shehbaz Sharif during an event held in Islamabad.

Despite the increasing FX reserves of the country, the PKR remains under pressure and continues to depreciate for a consecutive 3 trading sessions.

In comparison to major currencies, PKR lost 4.45 rupees against the Euro, closing at 318.36 compared to the previous value of 313.92.

The British Pound became more expensive by 4.65 rupees closing at 370.33 compared to 365.68 from a day ago.

The Swiss franc saw gains of 4.88 rupees, closing at 329.75 compared to 324.87 from the previous session.

Against the Japanese Yen, PKR lost 3.39 paisa, closing at 2.0486 versus 2.0147 a day ago.

The Chinese Yuan gained 53.11 Paisa, closing at 39.46 against 38.93 from the previous session.

The Saudi Riyal increased in value by 1.03 rupees from 76.03 a day ago to 77.06.

The U.A.E Dirham closed at 75.44 with a gain of 1.01 rupees from its value of 74.43 a day ago.

During the current financial year, PKR has appreciated against the Dollar by 2.95 rupees or 1.04%. While the current calendar year has seen PKR depreciate by 56.61 rupees or 20.0%.

In the Money Market, the benchmark 6-Month Karachi Interbank Bid and Offer rates inched up by 1 bps to 22.66% and 22.91%.

Performance Summary

Currency	Jul 18, 2023	Jul 17, 2023	Change	1 Month	FYTD	CYTD	1 Day %	7 Day %	1 Month %	MTD %	FYTD %	CYTD %
USD	283.04	279.26	-3.77	4.1539	2.95	-56.60	-1.34	-1.58	1.47	1.04	1.04	-20.00
EUR	318.36	313.91	-4.44	-4.1447	-5.43	-77.06	-1.40	-3.65	-1.30	-1.71	-1.71	-24.20
GBP	370.33	365.68	-4.65	-3.0660	-6.19	-97.25	-1.26	-3.05	-0.83	-1.67	-1.67	-26.26
CHF	329.75	324.87	-4.87	-7.7827	-9.99	-84.72	-1.48	-4.14	-2.36	-3.03	-3.03	-25.69
JPY	2.05	2.01	-0.034	-0.0131	-0.056	-0.34	-1.65	-3.23	-0.64	-2.75	-2.75	-16.35
SAR	75.44	74.43	-1.0082	1.1316	0.81	-15.23	-1.34	-1.56	1.50	1.08	1.08	-20.20
AED	77.06	76.03	-1.03	1.1351	0.80	-15.41	-1.33	-1.57	1.47	1.04	1.04	-19.99
CNY	39.46	38.92	-0.53	0.8631	0.21	-6.89	-1.35	-1.96	2.19	0.54	0.54	-17.46

52 Week Performance

Currency	High	Low	Trading Band	% Since High	% Since Low	High Date	Low Date	Days Since High	Days Since Low
USD	213.90	298.93	85.03	-24.43	5.61	16-Aug-22	11-May-23	336	68
EUR	211.28	326.85	115.57	-33.64	2.67	11-Oct-22	11-May-23	280	68
GBP	240.03	376.32	136.29	-35.19	1.62	11-Oct-22	11-May-23	280	68
CHF	217.64	334.22	116.58	-34.00	1.36	11-Oct-22	11-May-23	280	68
JPY	1.47	2.21	0.75	-28.36	8.26	21-Oct-22	11-May-23	270	68
SAR	56.97	79.70	22.73	-24.48	5.65	16-Aug-22	11-May-23	336	68
AED	58.23	81.40	23.17	-24.43	5.64	16-Aug-22	11-May-23	336	68
CNY	30.07	43.09	13.02	-23.79	9.21	25-Oct-22	11-May-23	266	68

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