March 01, 2024 (MLN): The Pakistani rupee (PKR) gained around 17 paisa against the U.S. Dollar this week and settled at PKR 279.19 per USD, compared to the previous week's closing of PKR 279.36 per USD.
In today's session, the domestic unit saw an intraday high (bid) of 279.85 and a low (ask) of 279.6 and. depreciated by 8.18 paisa against USD.
In the open market, exchange companies quoted the dollar at 281 for buying and 282.3 for selling.
Despite PKR closing this week on a positive note, the uncertainty surrounding the general elections held in the country on February 08, has somewhat disrupted the stable phase the home unit maintained against the USD for a significant period.
Last week even though the domestic currency closed stable against the USD, it witnessed continuous fluctuations throughout the week.
It is crucial to mention that the International Monetary Fund (IMF) has expressed its eagerness to collaborate with the new government on policies to ensure macroeconomic stability.
The Fund appreciated the caretaker government of Pakistan for its efforts in maintaining economic stability through strict adherence to fiscal targets, while also safeguarding the social safety net.
In comparison to major currencies, PKR gained 35.83 paisa against the Euro, closing at 302.06 compared to the previous value of 302.42.
The British Pound became cheaper by 37.15 paisa closing at 352.87 compared to 353.24 from a day ago.
The Swiss franc saw losses of 2.65 rupees, closing at 315.01 compared to 317.66 from the previous session.
Against the Japanese Yen, PKR gained 1.09 paisa, closing at 1.8543 versus 1.8652 a day ago.
The Chinese Yuan lost 1.3 paisa, closing at 38.78 against 38.8 from the previous session.
The Saudi Riyal closed at 74.45 with a gain of 2.38 paisa from its value of 74.42 a day ago.
The U.A.E Dirham increased in value by 2.12 paisa from 76.01 a day ago to 75.99.
During the current financial year, PKR has appreciated against the Dollar by 6.8 rupees or 2.43%. While the current calendar year has seen PKR appreciate by 2.67 rupees or 0.96%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 4 bps to 21.44% and 21.69%.
Performance Summary
| Currency | Mar 01, 2024 | Feb 29, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 279.1932 | 279.1117 | -0.0815 | 0.216 | 6.7973 | 2.6675 | -0.03% | 0.06% | 0.08% | -0.03% | 2.43% | 0.96% |
| EUR | 302.0592 | 302.4175 | 0.3583 | 2.0358 | 10.8716 | 9.4391 | 0.12% | 0.16% | 0.67% | 0.12% | 3.6% | 3.12% |
| GBP | 352.8723 | 353.2438 | 0.3715 | 3.584 | 11.265 | 5.7249 | 0.11% | 0.31% | 1.02% | 0.11% | 3.19% | 1.62% |
| CHF | 315.0099 | 317.6597 | 2.6498 | 10.9267 | 4.7469 | 20.0599 | 0.84% | 0.69% | 3.47% | 0.84% | 1.51% | 6.37% |
| JPY | 1.8543 | 1.8652 | 0.0109 | 0.052 | 0.138 | 0.1352 | 0.59% | 0.03% | 2.8% | 0.59% | 7.44% | 7.29% |
| SAR | 74.4456 | 74.4218 | -0.0238 | 0.0615 | 1.8084 | 0.7172 | -0.03% | 0.06% | 0.08% | -0.03% | 2.43% | 0.96% |
| AED | 76.0144 | 75.9932 | -0.0212 | 0.0546 | 1.8474 | 0.7283 | -0.03% | 0.06% | 0.07% | -0.03% | 2.43% | 0.96% |
| CNY | 38.7846 | 38.7976 | 0.013 | 0.1325 | 0.8851 | 0.8468 | 0.03% | 0.06% | 0.34% | 0.03% | 2.28% | 2.18% |
52 Week Performance
| Currency | High | Low | Trading Band | % Since High | % Since Low | High Date | Low Date | Days Since High | Days Since Low |
|---|---|---|---|---|---|---|---|---|---|
| USD | 275.438 | 307.1 | 31.6619 | -1.35% | 10% | 04-Jul-23 | 05-Sep-23 | 241 | 178 |
| EUR | 291.618 | 332.701 | 41.083 | -3.46% | 10.14% | 16-Oct-23 | 31-Aug-23 | 137 | 183 |
| GBP | 329.977 | 387.972 | 57.9953 | -6.49% | 9.95% | 08-Mar-23 | 31-Aug-23 | 359 | 183 |
| CHF | 296.118 | 347.163 | 51.0447 | -6% | 10.21% | 08-Mar-23 | 31-Aug-23 | 359 | 183 |
| JPY | 1.851 | 2.2178 | 0.3668 | -0.18% | 19.6% | 16-Oct-23 | 11-May-23 | 137 | 295 |
| SAR | 73.4412 | 81.8703 | 8.429 | -1.35% | 9.97% | 04-Jul-23 | 05-Sep-23 | 241 | 178 |
| AED | 74.9888 | 83.6089 | 8.620 | -1.35% | 9.99% | 04-Jul-23 | 05-Sep-23 | 241 | 178 |
| CNY | 37.8634 | 43.0908 | 5.2274 | -2.38% | 11.1% | 16-Oct-23 | 11-May-23 | 137 | 295 |
Copyright Mettis Link News
Posted on: 2024-03-01T15:48:00+05:00
