September 12, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 10 paisa or 0.04% against the US dollar in Thursday's interbank session to settle the trade at PKR 278.44 per USD, compared to previous closing of 278.54.
Throughout the day, the currency saw an intraday high (bid) of 278.60 and a low (ask) of 278.50.
In the open market, exchange companies quoted the dollar at 279.46 for buying and 280.85 for selling.
In a recent update, the State Bank of Pakistan (SBP) lowered its key policy rate by a substantial 200 basis points to 17.5%. This decision was more aggressive than the median estimate for a 150bps cut.
The reduction was the third in a row, bringing the total decrease since June 2024 to 450bps as a slowdown in inflation gave policymakers enough room to continue monetary easing in a bid to spur growth.
In comparison to major currencies, PKR gained 1.04 rupees against the Euro, closing at 306.47 compared to the previous value of 307.51.
The British Pound became cheaper by 1.41 rupees closing at 362.94 compared to 364.35 from a day ago.
The Swiss franc saw losses of 3.43 rupees, closing at 325.87 compared to 329.3 from the previous session.
Against the Japanese Yen, PKR gained 1.82 paisa, closing at 1.9523 versus 1.9705 a day ago.
The Chinese Yuan lost 7.07 paisa, closing at 39.09 against 39.16 from the previous session.
The Saudi Riyal closed at 74.2 with a loss of 3.66 paisa from its value of 74.23 a day ago.
The U.A.E Dirham decreased in value by 2.72 paisa from 75.81 a day ago to 75.84.
During the current financial year, PKR has depreciated against the Dollar by 10.11 paisa or 0.04%. While the current calendar year has seen PKR appreciate by 3.42 rupees or 1.23%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates dropped by 6 bps to 17.42% and 17.67%.
Performance Summary
| Currency | Sep 12, 2024 | Sep 11, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 278.4423 | 278.5423 | 0.1 | 0.2606 | -0.1011 | 3.4184 | 0.04% | 0.08% | 0.09% | 0.03% | -0.04% | 1.23% |
| EUR | 306.4675 | 307.5106 | 1.0431 | -1.9428 | -8.7815 | 5.0308 | 0.34% | 0.81% | -0.63% | 0.76% | -2.87% | 1.64% |
| GBP | 362.9356 | 364.3472 | 1.4116 | -6.0983 | -11.0148 | -4.3384 | 0.39% | 0.95% | -1.68% | 1.22% | -3.03% | -1.2% |
| CHF | 325.8731 | 329.3046 | 3.4315 | -4.3608 | -16.4675 | 9.1967 | 1.05% | 1.01% | -1.34% | 0.78% | -5.05% | 2.82% |
| JPY | 1.9523 | 1.9705 | 0.0182 | -0.0677 | -0.2225 | 0.0372 | 0.93% | -0.62% | -3.47% | -1.6% | -11.4% | 1.91% |
| SAR | 74.1978 | 74.2344 | 0.0366 | 0.0379 | -0.0031 | 0.965 | 0.05% | 0.05% | 0.05% | 0.04% | 0% | 1.3% |
| AED | 75.8099 | 75.8371 | 0.0272 | 0.0689 | -0.0295 | 0.9328 | 0.04% | 0.08% | 0.09% | 0.03% | -0.04% | 1.23% |
| CNY | 39.0859 | 39.1566 | 0.0707 | -0.2236 | -0.7807 | 0.5455 | 0.18% | 0.41% | -0.57% | 0.52% | -2% | 1.4% |
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 | 297.959 | 21.124 | -0.58% | 7.01% | 16-Oct-23 | 14-Sep-23 | 332 | 364 |
| EUR | 291.618 | 319.888 | 28.2709 | -4.85% | 4.38% | 16-Oct-23 | 14-Sep-23 | 332 | 364 |
| GBP | 337.032 | 372.121 | 35.0883 | -7.14% | 2.53% | 16-Oct-23 | 14-Sep-23 | 332 | 364 |
| CHF | 306.458 | 333.399 | 26.9408 | -5.96% | 2.31% | 13-Oct-23 | 14-Sep-23 | 335 | 364 |
| JPY | 1.851 | 2.023 | 0.172 | -5.19% | 3.62% | 16-Oct-23 | 14-Sep-23 | 332 | 364 |
| SAR | 73.8029 | 79.4366 | 5.6337 | -0.53% | 7.06% | 16-Oct-23 | 14-Sep-23 | 332 | 364 |
| AED | 75.3681 | 81.1213 | 5.7532 | -0.58% | 7.01% | 16-Oct-23 | 14-Sep-23 | 332 | 364 |
| CNY | 37.8634 | 40.9529 | 3.0895 | -3.13% | 4.78% | 16-Oct-23 | 14-Sep-23 | 332 | 364 |
Copyright Mettis Link News
Posted on: 2024-09-12T16:41:52+05:00
