PKR gains around 14 paisa against USD

August 09, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 13.54 paisa or 0.05% against the US dollar in Friday's interbank session to settle the trade at PKR 278.55 per USD, compared to previous closing of 278.69.

Throughout the day, the currency saw an intraday high (bid) of 278.95 and a low (ask) of 278.75.

In the open market, exchange companies quoted the dollar at 279.24 for buying and 280.4 for selling.

Meanwhile, on a weekly basis, the PKR registered a loss of 5 paisa against the U.S. Dollar.

In comparison to major currencies, PKR gained 63.55 paisa against the Euro, closing at 304.22 compared to the previous value of 304.85.

The British Pound became expensive by 1.56 rupees closing at 355.5 compared to 353.94 from a day ago.

The Swiss franc saw losses of 2.78 rupees, closing at 321.71 compared to 324.49 from the previous session.

Against the Japanese Yen, PKR gained 1.81 paisa, closing at 1.8923 versus 1.9104 a day ago.

The Chinese Yuan lost 9.05 paisa, closing at 38.83 against 38.92 from the previous session.

The Saudi Riyal closed at 74.22 with a loss of 3.22 paisa from its value of 74.25 a day ago.

The U.A.E Dirham decreased in value by 3.68 paisa from 75.84 a day ago to 75.87.

During the current financial year, PKR has depreciated against the Dollar by 20.88 paisa or 0.07%. While the current calendar year has seen PKR appreciate by 3.31 rupees or 1.19%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates dropped by 8 bps to 18.58% and 18.83%.

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 Rs3.17 trillion into the market.

Of which Rs3.08tr were injected through reverse repo OMO.

Meanwhile, the remaining Rs90 billion was injected through Shariah-compliant Modarabah-based OMO.

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