April 04, 2024 (MLN): The Pakistani rupee (PKR) depreciated by 1.21 paisa against the US dollar in Thursday's interbank session as the currency settled the trade at PKR 277.93 per USD, compared to the previous session's closing of PKR 277.92 per USD.
The currency saw an intraday high (bid) of 278.1 and a low (ask) of 278.
In the open market, exchange companies quoted the dollar at 277 for buying and 278 for selling.
Prime Minister Shehbaz Sharif has made a crucial announcement that the country is to receive the final loan tranche worth around $1.1 billion from the International Monetary Fund (IMF) this month.
He further stated that the Finance Minister, Muhammad Aurangzeb will also hold meetings with the IMF officials to discuss the terms of a new program, which is expected to carry tough conditions.
In comparison to major currencies, PKR lost 2.4 rupees against the Euro, closing at 301.75 compared to the previous value of 299.34.
The British Pound became expensive by 2.73 rupees closing at 351.97 compared to 349.24 from a day ago.
The Swiss franc saw gains of 55.34 paisa, closing at 306.53 compared to 305.97 from the previous session.
Against the Japanese Yen, PKR lost 0.02 paisa, closing at 1.8323 versus 1.8321 a day ago.
The Chinese Yuan gained 1.23 paisa, closing at 38.42 against 38.41 from the previous session.
The Saudi Riyal closed at 74.1 with a gain of 0.23 paisa from its value of 74.1 a day ago.
The U.A.E Dirham increased in value by 0.95 paisa from 75.68 a day ago to 75.67.
During the current financial year, PKR has appreciated against the Dollar by 8.06 rupees or 2.9%. While the current calendar year has seen PKR appreciate by 3.93 rupees or 1.41%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched up by 1 bps to 21.42% and 21.67%.
The State Bank of Pakistan (SBP) conducted an auction yesterday in which it sold Market Treasury Bills (MTBs) worth Rs557.63 billion for 3,6 and 12 months against a target of Rs225bn.
Cut-off yields for 3, 6, and 12 months were 21.6601%, 21.3999%, and 20.8998%, depicting a rise of 101bps in 6 month, while 3-month and 12-month yields remained unchanged.
Performance Summary
| Currency | Apr 04, 2024 | Apr 03, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 277.9282 | 277.9161 | -0.0121 | 1.3854 | 8.0623 | 3.9325 | 0% | 0.04% | 0.5% | 0.01% | 2.9% | 1.41% |
| EUR | 301.7467 | 299.3434 | -2.4033 | 1.3365 | 11.1841 | 9.7516 | -0.8% | -0.58% | 0.44% | -0.73% | 3.71% | 3.23% |
| GBP | 351.9683 | 349.2432 | -2.7251 | 2.1594 | 12.169 | 6.6289 | -0.77% | -0.39% | 0.61% | -0.31% | 3.46% | 1.88% |
| CHF | 306.5273 | 305.9739 | -0.5534 | 8.9209 | 13.2295 | 28.5425 | -0.18% | 0.1% | 2.91% | 0.57% | 4.32% | 9.31% |
| JPY | 1.8323 | 1.8321 | -0.0002 | 0.0249 | 0.16 | 0.1572 | -0.01% | 0.22% | 1.36% | 0.21% | 8.73% | 8.58% |
| SAR | 74.0974 | 74.0951 | -0.0023 | 0.3783 | 2.1566 | 1.0654 | 0% | 0.04% | 0.51% | 0.02% | 2.91% | 1.44% |
| AED | 75.6823 | 75.6728 | -0.0095 | 0.3669 | 2.1795 | 1.0604 | -0.01% | 0.04% | 0.48% | 0.01% | 2.88% | 1.4% |
| CNY | 38.421 | 38.4087 | -0.0123 | 0.3771 | 1.2487 | 1.2104 | -0.03% | 0.13% | 0.98% | 0.14% | 3.25% | 3.15% |
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 | -0.9% | 10.5% | 04-Jul-23 | 05-Sep-23 | 275 | 212 |
| EUR | 291.618 | 332.701 | 41.083 | -3.36% | 10.26% | 16-Oct-23 | 31-Aug-23 | 171 | 217 |
| GBP | 337.032 | 387.972 | 50.9401 | -4.24% | 10.23% | 16-Oct-23 | 31-Aug-23 | 171 | 217 |
| CHF | 306.458 | 347.163 | 40.7049 | -0.02% | 13.26% | 13-Oct-23 | 31-Aug-23 | 174 | 217 |
| JPY | 1.851 | 2.2178 | 0.3668 | 1.02% | 21.04% | 16-Oct-23 | 11-May-23 | 171 | 329 |
| SAR | 73.4412 | 81.8703 | 8.429 | -0.89% | 10.49% | 04-Jul-23 | 05-Sep-23 | 275 | 212 |
| AED | 74.9888 | 83.6089 | 8.620 | -0.92% | 10.47% | 04-Jul-23 | 05-Sep-23 | 275 | 212 |
| CNY | 37.8634 | 43.0908 | 5.2274 | -1.45% | 12.15% | 16-Oct-23 | 11-May-23 | 171 | 329 |
Copyright Mettis Link News
Posted on: 2024-04-04T14:57:49+05:00
