PKR depreciates by 5 paisa against USD

By MG News | October 09, 2024 at 04:52 PM GMT+05:00

0:00

October 09, 2024 (MLN): The Pakistani rupee (PKR) depreciated by 5.01 paisa or 0.02% against the US dollar in Wednesday's interbank session to settle the trade at PKR 277.72 per USD, compared to previous closing of 277.67.

Throughout the day, the currency saw an intraday high (bid) of 277.80 and a low (ask) of 277.7.

In the open market, exchange companies quoted the dollar at 278.5 for buying and 278.5 for selling.

Pakistan has just witnessed its highest first-quarter remittances, which totaled $8.79 billion, compared to $6.33bn in inflows received in 3MFY24, representing an increase of 38.8%.

This spark is primarily attributed to a stable Dollar to rupee exchange rate and a reduced gap between interbank and open market rates.

In comparison to major currencies, PKR gained 77.81 paisa against the Euro, closing at 304.42 compared to the previous value of 305.2.

The British Pound became cheaper by 10.1 paisa closing at 363.38 compared to 363.48 from a day ago.

The Swiss franc saw losses of 96.61 paisa, closing at 324.16 compared to 325.12 from the previous session.

Against the Japanese Yen, PKR gained 1.13 paisa, closing at 1.8694 versus 1.8807 a day ago.

The Chinese Yuan lost 7.4 paisa, closing at 39.31 against 39.38 from the previous session.

The Saudi Riyal closed at 73.97 with a gain of 2.91 paisa from its value of 73.94 a day ago.

The U.A.E Dirham increased in value by 1.37 paisa from 75.61 a day ago to 75.6.

During the current financial year, PKR has appreciated against the Dollar by 62.1 paisa or 0.22%. While the current calendar year has seen PKR appreciate by 4.14 rupees or 1.49%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 1 bps to 14.45% and 14.7%.

Performance Summary

Currency	Oct 09, 2024	Oct 08, 2024	Change	1 Month	FYTD	CYTD	1 Day	7 Day	1 Month	MTD	FYTD	CYTD
USD	277.7202	277.6701	-0.0501	0.8993	0.621	4.1405	-0.02%	-0.03%	0.32%	0%	0.22%	1.49%
EUR	304.423	305.2011	0.7781	3.0893	-6.737	7.0753	0.26%	0.95%	1.01%	2.05%	-2.21%	2.32%
GBP	363.383	363.484	0.101	1.3717	-11.4622	-4.7858	0.03%	1.54%	0.38%	2.4%	-3.15%	-1.32%
CHF	324.1555	325.1216	0.9661	4.0762	-14.7499	10.9143	0.3%	1.29%	1.26%	1.59%	-4.55%	3.37%
JPY	1.8694	1.8807	0.0113	0.0701	-0.1396	0.1201	0.6%	3.12%	3.75%	4.31%	-7.47%	6.42%
SAR	73.9739	73.9448	-0.0291	0.2949	0.2208	1.1889	-0.04%	0%	0.4%	0.07%	0.3%	1.61%
AED	75.6113	75.5976	-0.0137	0.2448	0.1691	1.1314	-0.02%	-0.03%	0.32%	0%	0.22%	1.5%
CNY	39.3107	39.3847	0.074	-0.1837	-1.0055	0.3207	0.19%	0.63%	-0.47%	0.71%	-2.56%	0.82%

52 Week Performance

Currency	High	Low	Trading Band	% Since High	% Since Low	High Date	Low Date	Days Since High	Days Since Low
USD	276.835	288.141	11.306	-0.32%	3.75%	16-Oct-23	15-Nov-23	359	329
EUR	291.618	313.496	21.8787	-4.21%	2.98%	16-Oct-23	29-Nov-23	359	315
GBP	337.032	362.283	25.2507	-7.25%	-0.3%	16-Oct-23	29-Nov-23	359	315
CHF	306.458	329.845	23.3868	-5.46%	1.76%	13-Oct-23	22-Dec-23	362	292
JPY	1.851	1.9892	0.1382	-0.98%	6.41%	16-Oct-23	18-Dec-23	359	296
SAR	73.8029	76.8293	3.0264	-0.23%	3.86%	16-Oct-23	15-Nov-23	359	329
AED	75.3681	78.4505	3.0824	-0.32%	3.75%	16-Oct-23	15-Nov-23	359	329
CNY	37.8634	40.0793	2.2159	-3.68%	1.96%	16-Oct-23	21-Nov-23	359	323

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