February 01, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 2.27 paisa against the US dollar in Thursday's interbank session as the currency settled the trade at PKR 279.48, as compared to the previous day's closing of PKR 279.5 per USD.
The local unit saw an intraday high (bid) of 279.62 and a low (ask) of 279.5.
In the open market, exchange companies quoted the dollar at 279.1 for buying and 281.08 for selling.
The recent inflation figures showed that the consumer price index (CPI) for the month of January 2024 clocked in at 28.34% YoY, surpassing MG Research's estimate of 27.2% YoY.
It is pertinent to note that PKR has made a positive start to 2024, closing the month of January at Rs279.5 with a gain of 0.84% or 2.36 rupees against the mighty Dollar.
The positivity arises from improved macroeconomic conditions in the form of increased liquidity in the foreign exchange market due to tighter enforcement of regulations, a shrinking money supply, a balance of payments surplus on account of low import demand, and a moratorium on Chinese debt repayments.
In comparison to major currencies, PKR gained 94.68 paisa against the Euro, closing at 301.39 compared to the previous value of 302.34.
The British Pound became cheaper by 74.14 paisa, closing at 353.52 compared to 354.27 from a day ago.
Swiss franc saw losses of 30.71 paisa, closing at 323.34 compared to 323.65 from the previous session.
Against the Japanese Yen, PKR lost 1.29 paisa, closing at 1.906 versus 1.893 a day ago.
The Chinese Yuan lost 2.05 paisa, closing at 38.9014 against 38.9219 from the previous session.
The Saudi Riyal closed at 74.53 with a loss of 0.41 paisa from its value of 74.53 a day ago.
The U.A.E Dirham decreased in value by 0.21 paisa from 76.094 a day ago to 76.092.
During the current financial year, PKR has appreciated against the Dollar by 6.51 rupees or 2.33%. While the current calendar year has seen PKR appreciated by 2.38 rupees or 0.85%.
In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates inched up by 9 bps to 20.81% and 21.06%.
Performance Summary
| Currency | Feb 1, 2024 | Jan 31, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 279.4773 | 279.5 | 0.0227 | 2.4171 | 6.5132 | 2.3834 | 0.01% | 0.07% | 0.86% | 0.01% | 2.33% | 0.85% |
| EUR | 301.3884 | 302.3352 | 0.9468 | 9.4284 | 11.5424 | 10.1099 | 0.31% | 1.02% | 3.13% | 0.31% | 3.83% | 3.35% |
| GBP | 353.5249 | 354.2663 | 0.7414 | 5.8200 | 10.6124 | 5.0723 | 0.21% | 0.65% | 1.65% | 0.21% | 3.00% | 1.43% |
| CHF | 323.3382 | 323.6453 | 0.3071 | 10.4227 | -3.5814 | 11.7316 | 0.09% | 0.11% | 3.22% | 0.09% | -1.11% | 3.63% |
| JPY | 1.9057 | 1.8928 | -0.0129 | 0.0866 | 0.0866 | 0.0838 | -0.68% | -0.69% | 4.54% | -0.68% | 4.54% | 4.40% |
| SAR | 74.5253 | 74.5294 | 0.0041 | 0.6445 | 1.7287 | 0.6375 | 0.01% | 0.07% | 0.86% | 0.01% | 2.32% | 0.86% |
| AED | 76.0917 | 76.0938 | 0.0021 | 0.6644 | 1.7701 | 0.6510 | 0.00% | 0.07% | 0.87% | 0.00% | 2.33% | 0.86% |
| CNY | 38.9014 | 38.9219 | 0.0205 | 0.6250 | 0.7683 | 0.7300 | 0.05% | 0.32% | 1.61% | 0.05% | 1.97% | 1.88% |
52 Week Performance
| Currency | High | Low | Trading Band | % Since High | % Since Low | High Date | Low Date | Days Since High | Days Since Low |
|---|---|---|---|---|---|---|---|---|---|
| USD | 259.923 | 307.1 | 47.1771 | -7.00% | 9.88% | 27-Feb-23 | 05-Sep-23 | 339 | 149 |
| EUR | 274.296 | 332.701 | 58.4043 | -8.99% | 10.39% | 27-Feb-23 | 31-Aug-23 | 339 | 154 |
| GBP | 310.789 | 387.972 | 77.1830 | -12.09% | 9.74% | 27-Feb-23 | 31-Aug-23 | 339 | 154 |
| CHF | 275.926 | 347.163 | 71.2367 | -14.66% | 7.37% | 27-Feb-23 | 31-Aug-23 | 339 | 154 |
| JPY | 1.851 | 2.2178 | 0.3668 | -2.87% | 16.38% | 16-Oct-23 | 11-May-23 | 108 | 266 |
| SAR | 69.2748 | 81.8703 | 12.5955 | -7.05% | 9.86% | 27-Feb-23 | 05-Sep-23 | 339 | 149 |
| AED | 70.7677 | 83.6089 | 12.8412 | -7.00% | 9.88% | 27-Feb-23 | 05-Sep-23 | 339 | 149 |
| CNY | 37.3219 | 43.0908 | 5.7689 | -4.06% | 10.77% | 27-Feb-23 | 11-May-23 | 339 | 266 |
Copyright Mettis Link News
Posted on: 2024-02-01T16:32:31+05:00
