PKR jumps 18 paisa against USD

October 18, 2024 (MLN): The Pakistani rupee (PKR) gained by 17.94 paisa or 0.06% against the US dollar in Friday's interbank session to settle the trade at PKR 277.61 per USD, compared to previous closing of 277.79.

Throughout the day, the currency saw an intraday high (bid) of 277.80 and a low (ask) of 277.70.

On a weekly basis, the local unit rose 0.02 rupees or 0.01%.

In the open market, exchange companies quoted the dollar at 277.76 for buying and 279.11 for selling.

In comparison to major currencies, PKR increased 50.00 paisa or 0.17% against the Euro, closing at 301.03 compared to the previous value of 301.53.

Against the British Pound, PKR fell by 1.43 rupees or 0.40% to 362.27 compared to 360.84 a day ago.

The local unit rose 61.45 paisa or 0.19% against Swiss franc to close at 320.40.

Against the Japanese Yen, PKR's value strengthened 0.56 paisa or 0.30% to close the session at 1.8493 versus 1.8549 a day ago.

Pakistani Rupee deteriorated 8.01 paisa or 0.21% against Chinese Yuan to close at 39.05 from 38.97.

The local currency strengthened by 5.56 paisa or 0.08% against Saudi Riyal to 73.91. While it rose by 4.89 paisa or 0.06% against the U.A.E Dirham to close at 75.58.

During the current fiscal year, PKR has rose against the US Dollar by 72.83 paisa or 0.26%. While it has increased 4.25 rupees or 1.53% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 4 bps to 14.3% and 14.55%.

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 Rs4.09 trillion into the market. 

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