PKR jumps 15 paisa against USD

November 01, 2024 (MLN): The Pakistani rupee (PKR) gained by 15.00 paisa or 0.05% against the US dollar in Friday's interbank session to settle the trade at PKR 277.70 per USD, compared to previous closing of 277.85.

Throughout the day, the currency saw an intraday high (bid) of 277.85 and a low (ask) of 277.75.

On a weekly basis, the local unit lost 6 paisa or 0.02% against USD.

In the open market, exchange companies quoted the dollar at 276.87 for buying and 278.78 for selling.

In comparison to major currencies, PKR decreased 10.10 paisa or 0.03% against the Euro, closing at 301.79 compared to the previous value of 301.69.

Against the British Pound, PKR rose by 2.97 rupees or 0.82% to 358.05 compared to 361.02 a day ago.

The local unit appreciated 1.47 rupees or 0.46% against Swiss franc to close at 319.65.

Against the Japanese Yen, PKR's value increased 0.65 paisa or 0.36% to close the session at 1.8195 versus 1.8260 a day ago.

Pakistani Rupee appreciated 4.62 paisa or 0.12% against Chinese Yuan to close at 38.98 from 39.03.

The local currency strengthened by 3.80 paisa or 0.05% against Saudi Riyal to 73.94. While it increased by 4.08 paisa or 0.05% against the U.A.E Dirham to close at 75.61.

During the current fiscal year, PKR has rose against the US Dollar by 64.12 paisa or 0.23%. While it has increased 4.16 rupees or 1.50% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates fell by 13 bps to 13.18% and 13.43%.

Meanwhile, 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 Rs4.31 trillion into the market.

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