PKR gains around 21 paisa against USD

November 08, 2024 (MLN): The Pakistani rupee (PKR) strengthened by 20.87 paisa or 0.08% against the US dollar in Friday's interbank session to settle the trade at PKR 277.74 per USD, compared to previous closing of 277.95.

Throughout the day, the currency saw an intraday high (bid) of 278.15 and a low (ask) of 278.05.

In the open market, exchange companies quoted the dollar at 276.96 for buying and 278.88 for selling.

The central bank reported today that workers' remittances increased by 23.91% in October to $3.052 billion, pushing sentiments of macroeconomic strength.

On a weekly basis, the home currency lost 4 paisa against the mighty Dollar.

In comparison to major currencies, PKR weakened 2.55 paisa or 0.01% against the Euro, closing at 298.94 compared to the previous value of 298.92.

Against the British Pound, PKR depreciated by 23.01 paisa or 0.06% to 359.55 compared to 359.31 a day ago.

The local unit depreciated 45.15 paisa or 0.14% against Swiss franc to close at 317.90.

Against the Japanese Yen, PKR's value decreased 1.54 paisa or 0.85% to close the session at 1.8200 versus 1.8046 a day ago.

Pakistani Rupee rose 0.31 paisa or 0.01% against Chinese Yuan to close at 38.79 from 38.79.

The local currency gained by 4.57 paisa or 0.06% against Saudi Riyal to 73.94. While it strengthened by 5.69 paisa or 0.08% against the U.A.E Dirham to close at 75.61.

During the current fiscal year, PKR has rose against the US Dollar by 60.38 paisa or 0.22%. While it has gained 4.12 rupees or 1.48% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched up by 2 bps to 13.05% and 13.30%.

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 Rs9.62 trillion into the market. 

Performance Summary

52 Week Performance

Copyright Mettis Link News