PKR gains 20 paisa against USD

November 22, 2024 (MLN): The Pakistani rupee (PKR) rose by 19.99 paisa or 0.07% against the US dollar in Friday's interbank session to settle the trade at PKR 277.76 per USD, compared to previous closing of 277.96.

Throughout the day, the currency saw an intraday high (bid) of 278.05 and a low (ask) of 277.95.

On a weekly basis, the local unit lost 9 paisa against USD.

In the open market, exchange companies quoted the dollar at 276.60 for buying and 279.00 for selling.

In comparison to major currencies, PKR rose 1.54 rupees or 0.53% against the Euro, closing at 291.36 compared to the previous value of 292.90.

Against the British Pound, PKR gained by 2.04 rupees or 0.58% to 349.37 compared to 351.41 a day ago.

The local unit gained 1.19 rupees or 0.38% against Swiss franc to close at 313.57.

Against the Japanese Yen, PKR's value increased 0.19 paisa or 0.11% to close the session at 1.7940 versus 1.7959 a day ago.

Pakistani Rupee strengthened 6.60 paisa or 0.17% against Chinese Yuan to close at 38.33 from 38.40.

The local currency strengthened by 6.22 paisa or 0.08% against Saudi Riyal to 73.98. While it increased by 5.44 paisa or 0.07% against the U.A.E Dirham to close at 75.62.

During the current fiscal year, PKR has appreciated against the US Dollar by 58.21 paisa or 0.21%. While it has rose 4.10 rupees or 1.48% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 2bps to 13.38% and 13.63%.

Meanwhile, the State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (OMO) today, in which it cumulatively injected a total of Rs2.38 trillion into the market.

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