PKR gains over 8 paisa against USD
By MG News | June 14, 2024 at 03:30 PM GMT+05:00
June 14, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 8.22 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 278.59 per USD.
The currency saw an intraday high (bid) of 278.6 and a low (ask) of 278.4.
In the open market, exchange companies quoted the dollar at 277.66 for buying and 280.25 for selling.
On a weekly basis, PKR lost 0.31 rupees against USD.
The domestic currency witnessed a strong rebound against the USD yesterday following the announcement of budget 2024-25.
The budget would lay the foundation for a larger and extended program with the International Monetary Fund (IMF), which the country is seeking to achieve economic stability.
In comparison to major currencies, PKR gained 3.06 rupees against the Euro, closing at 298.23 compared to the previous value of 301.28.
The British Pound became cheaper by 1.71 rupees closing at 354.56 compared to 356.26 from a day ago.
The Swiss franc saw gains of 69.25 paisa, closing at 311.95 compared to 311.26 from the previous session.
Against the Japanese Yen, PKR gained 0.36 paisa, closing at 1.7677 versus 1.7713 a day ago.
The Chinese Yuan lost 3.15 paisa, closing at 38.39 against 38.42 from the previous session.
The Saudi Riyal closed at 74.23 with a loss of 3.18 paisa from its value of 74.27 a day ago.
The U.A.E Dirham decreased in value by 2.34 paisa from 75.82 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 4 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 Rs11.96 trillion into the market. Of which Rs11.72tr were injected through reverse repo OMO.
Meanwhile, the remaining Rs245 billion was injected through Shariah-compliant Modarabah-based OMO.
Performance Summary
| Currency | Jun 14, 2024 | Jun 13, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 278.5097 | 278.5919 | 0.0822 | -0.2449 | 7.4808 | 3.351 | 0.03% | -0.11% | -0.09% | -0.07% | 2.69% | 1.2% |
| EUR | 298.2282 | 301.2832 | 3.055 | 3.0213 | 14.7026 | 13.2701 | 1.02% | 1.59% | 1.01% | 1.01% | 4.93% | 4.45% |
| GBP | 354.5568 | 356.2633 | 1.7065 | -4.1101 | 9.5805 | 4.0404 | 0.48% | 0.42% | -1.16% | -0.26% | 2.7% | 1.14% |
| CHF | 311.9509 | 311.2584 | -0.6925 | -4.5948 | 7.8059 | 23.1189 | -0.22% | 0.23% | -1.47% | -1.4% | 2.5% | 7.41% |
| JPY | 1.7677 | 1.7713 | 0.0036 | 0.015 | 0.2246 | 0.2218 | 0.2% | 1.22% | 0.85% | 0.19% | 12.71% | 12.55% |
| SAR | 74.2336 | 74.2654 | 0.0318 | -0.0376 | 2.0204 | 0.9292 | 0.04% | -0.08% | -0.05% | -0.04% | 2.72% | 1.25% |
| AED | 75.8242 | 75.8476 | 0.0234 | -0.0657 | 2.0376 | 0.9185 | 0.03% | -0.11% | -0.09% | -0.06% | 2.69% | 1.21% |
| CNY | 38.3852 | 38.4167 | 0.0315 | 0.1378 | 1.2845 | 1.2462 | 0.08% | 0.06% | 0.36% | 0.12% | 3.35% | 3.25% |
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 | -1.1% | 10.27% | 04-Jul-23 | 05-Sep-23 | 346 | 283 |
| EUR | 291.618 | 332.701 | 41.083 | -2.22% | 11.56% | 16-Oct-23 | 31-Aug-23 | 242 | 288 |
| GBP | 337.032 | 387.972 | 50.9401 | -4.94% | 9.42% | 16-Oct-23 | 31-Aug-23 | 242 | 288 |
| CHF | 306.458 | 347.163 | 40.7049 | -1.76% | 11.29% | 13-Oct-23 | 31-Aug-23 | 245 | 288 |
| JPY | 1.851 | 2.1004 | 0.2494 | 4.71% | 18.82% | 16-Oct-23 | 01-Sep-23 | 242 | 287 |
| SAR | 73.4412 | 81.8703 | 8.4291 | -1.07% | 10.29% | 04-Jul-23 | 05-Sep-23 | 346 | 283 |
| AED | 74.9888 | 83.6089 | 8.6201 | -1.1% | 10.27% | 04-Jul-23 | 05-Sep-23 | 346 | 283 |
| CNY | 37.8634 | 42.0637 | 4.2003 | -1.36% | 9.58% | 16-Oct-23 | 01-Sep-23 | 242 | 287 |
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