PKR jumps by 16 paisa against USD

By MG News | Category FOREX | September 26, 2024 at 03:58 PM GMT+05:00

0:00

September 26, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 15.92 paisa or 0.06% against the US dollar in Thursday's interbank session to settle the trade at PKR 277.69 per USD, compared to previous closing of 277.85.

Throughout the day, the currency saw an intraday high (bid) of 277.8 and a low (ask) of 277.55.

In the open market, exchange companies quoted the dollar at 279.41 for buying and 280.7 for selling.

This positivity arises after the International Monetary Fund (IMF) concluded the 2024 Article IV consultation and approved a 37-month Extended Arrangement under the Extended Fund Facility (EFF) for Pakistan in the amount of SDR 5,320 million (262% of quota, or around $7 billion).

The Board’s decision allows for an immediate disbursement of SDR 760m (or about US$1bn), said a press release issued by the Fund.

In comparison to major currencies, PKR gained 1.93 rupees against the Euro, closing at 309.02 compared to the previous value of 310.95.

The British Pound became cheaper by 1.73 rupees closing at 370.32 compared to 372.05 from a day ago.

The Swiss franc saw losses of 1.72 rupees, closing at 327.23 compared to 328.95 from the previous session.

Against the Japanese Yen, PKR gained 1.56 paisa, closing at 1.915 versus 1.9306 a day ago.

The Chinese Yuan lost 2.81 paisa, closing at 39.55 against 39.58 from the previous session.

The Saudi Riyal closed at 74.02 with a loss of 3.36 paisa from its value of 74.05 a day ago.

The U.A.E Dirham decreased in value by 4.34 paisa from 75.6 a day ago to 75.65.

During the current financial year, PKR has appreciated against the Dollar by 65.43 paisa or 0.24%. While the current calendar year has seen PKR appreciate by 4.17 rupees or 1.5%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates dropped by 19 bps to 15.64% and 15.89%.

Performance Summary

Currency	Sep 26, 2024	Sep 25, 2024	Change	1 Month	FYTD	CYTD	1 Day	7 Day	1 Month	MTD	FYTD	CYTD
USD	277.6869	277.8461	0.1592	0.6342	0.6543	4.1738	0.06%	0.08%	0.23%	0.31%	0.24%	1.5%
EUR	309.0239	310.9515	1.9276	1.8469	-11.3379	2.4744	0.62%	0.26%	0.6%	-0.07%	-3.67%	0.8%
GBP	370.3233	372.0499	1.7266	-2.7307	-18.4025	-11.7261	0.47%	-0.58%	-0.74%	-0.8%	-4.97%	-3.17%
CHF	327.2295	328.9483	1.7188	1.1149	-17.8239	7.8403	0.53%	0.41%	0.34%	0.36%	-5.45%	2.4%
JPY	1.915	1.9306	0.0156	0.0047	-0.1852	0.0745	0.81%	1.86%	0.25%	0.31%	-9.67%	3.89%
SAR	74.0202	74.0538	0.0336	0.1553	0.1745	1.1426	0.05%	0.05%	0.21%	0.28%	0.24%	1.54%
AED	75.6022	75.6456	0.0434	0.1747	0.1782	1.1405	0.06%	0.08%	0.23%	0.31%	0.24%	1.51%
CNY	39.5534	39.5815	0.0281	-0.5234	-1.2482	0.078	0.07%	-0.62%	-1.32%	-0.66%	-3.16%	0.2%

52 Week Performance

Currency	High	Low	Trading Band	% Since High	% Since Low	High Date	Low Date	Days Since High	Days Since Low
USD	276.835	288.141	11.306	-0.31%	3.76%	16-Oct-23	15-Nov-23	346	316
EUR	291.618	313.496	21.8787	-5.63%	1.45%	16-Oct-23	29-Nov-23	346	302
GBP	337.032	362.283	25.2507	-8.99%	-2.17%	16-Oct-23	29-Nov-23	346	302
CHF	306.458	329.845	23.3868	-6.35%	0.8%	13-Oct-23	22-Dec-23	349	279
JPY	1.851	1.9892	0.1382	-3.34%	3.87%	16-Oct-23	18-Dec-23	346	283
SAR	73.8029	76.8293	3.0264	-0.29%	3.8%	16-Oct-23	15-Nov-23	346	316
AED	75.3681	78.4505	3.0824	-0.31%	3.77%	16-Oct-23	15-Nov-23	346	316
CNY	37.8634	40.0793	2.2159	-4.27%	1.33%	16-Oct-23	21-Nov-23	346	310

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