PKR gains around 5 paisa against USD

March 26, 2024 (MLN): The Pakistani rupee (PKR) appreciated by around 5 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 278.08 per USD, compared to the previous session's closing of PKR 278.13 per USD.

The currency saw an intraday high (bid) of 278.4 and a low (ask) of 278.1.

Last week, the home unit extended its winning journey against the mighty Dollar by appreciating 60 paisa.

In the open market, exchange companies quoted the dollar at 278.06 for buying and 280.67 for selling.

In comparison to major currencies, PKR lost 60.2 paisa against the Euro, closing at 301.45 compared to the previous value of 300.85.

The British Pound became expensive by 1.16 rupees closing at 351.75 compared to 350.59 from a day ago.

The Swiss franc saw losses of 1.05 rupees, closing at 308.68 compared to 309.73 from the previous session.

Against the Japanese Yen, PKR gained 0.07 paisa, closing at 1.8375 versus 1.8382 a day ago.

The Chinese Yuan lost 7.34 paisa, closing at 38.52 against 38.59 from the previous session.

The Saudi Riyal closed at 74.14 with a loss of 1.67 paisa from its value of 74.16 a day ago.

The U.A.E Dirham decreased in value by 1.19 paisa from 75.72 a day ago to 75.73.

During the current financial year, PKR has appreciated against the Dollar by 7.91 rupees or 2.85%. While the current calendar year has seen PKR appreciate by 3.78 rupees or 1.36%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched up by 3 bps to 21.38% and 21.63%.

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