PKR gains around 9 paisa against USD

June 21, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 8.96 paisa against the US dollar in Friday's interbank session as the currency settled the trade at PKR 278.51 per USD, compared to the previous session's closing of PKR 278.6 per USD.

The currency saw an intraday high (bid) of 278.95 and a low (ask) of 278.8.

In the open market, exchange companies quoted the dollar at 277.61 for buying and 280.32 for selling.

In comparison to major currencies, PKR gained 1.21 rupees against the Euro, closing at 297.56 compared to the previous value of 298.77.

The British Pound became cheaper by 1.78 rupees closing at 352.29 compared to 354.07 from a day ago.

The Swiss franc saw losses of 64.55 paisa, closing at 312.58 compared to 313.23 from the previous session.

Against the Japanese Yen, PKR gained 0.58 paisa, closing at 1.7541 versus 1.7599 a day ago.

The Chinese Yuan lost 1.71 paisa, closing at 38.36 against 38.37 from the previous session.

The Saudi Riyal closed at 74.24 with a loss of 2.39 paisa from its value of 74.26 a day ago.

The U.A.E Dirham decreased in value by 2.13 paisa from 75.83 a day ago to 75.85.

During the current financial year, PKR has appreciated against the Dollar by 7.48 rupees or 2.69%. While the current calendar year has seen PKR appreciate by 3.35 rupees or 1.2%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched up by 1 bps to 19.86% and 20.11%.

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 Rs2.6 trillion into the market.

Of the total amount injected, Rs2.47tr were injected through reverse repo OMO.

Meanwhile, the remaining Rs130 billion was injected through Shariah-compliant Modarabah-based OMO.

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