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PKR gains over 8 paisa against USD

PKR gains over 8 paisa against USD
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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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Posted on: 2024-06-14T15:30:54+05:00