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PKR loses 17 paisa against USD

PKR falls by another 11 paisa against greenback
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June 10, 2024 (MLN): The Pakistani rupee (PKR) depreciated by 17.01 paisa against the US dollar in Monday's interbank session as the currency settled the trade at PKR 278.37 per USD, compared to the previous session's closing of PKR 278.2 per USD.

The currency saw an intraday high (bid) of 278.5 and a low (ask) of 278.25.

In the open market, exchange companies quoted the dollar at 277.70 for buying and 280.15 for selling.

In a major development, the State Bank of Pakistan (SBP) lowered its key policy rate by 150 basis points to 20.5% on Monday, a bigger margin than expected by market analysts.

The reduction is the first in almost four years and comes ahead of the country’s annual budget 2024-25.

In comparison to major currencies, PKR gained 3.43 rupees against the Euro, closing at 299.53 compared to the previous value of 302.96.

The British Pound became cheaper by 2 rupees closing at 354.05 compared to 356.04 from a day ago.

The Swiss franc saw losses of 2.35 rupees, closing at 310.32 compared to 312.67 from the previous session.

Against the Japanese Yen, PKR gained 1.64 paisa, closing at 1.7728 versus 1.7892 a day ago.

The Chinese Yuan lost 0.01 paisa, closing at 38.41 against 38.41 from the previous session.

The Saudi Riyal closed at 74.23 with a gain of 5.13 paisa from its value of 74.18 a day ago.

The U.A.E Dirham increased in value by 4.63 paisa from 75.79 a day ago to 75.74.

During the current financial year, PKR has appreciated against the Dollar by 7.62 rupees or 2.74%. While the current calendar year has seen PKR appreciate by 3.49 rupees or 1.25%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 2 bps to 20.43% and 20.68%.

Performance Summary

Currency Jun 10, 2024 Jun 07, 2024 Change 1 Month FYTD CYTD 1 Day 7 Day 1 Month MTD FYTD CYTD
USD 278.3701 278.2 -0.1701 -0.249 7.6204 3.4906 -0.06% 0% -0.09% -0.02% 2.74% 1.25%
EUR 299.5263 302.9598 3.4335 0.4134 13.4045 11.972 1.15% 0.72% 0.14% 0.57% 4.48% 4%
GBP 354.0451 356.0404 1.9953 -5.4481 10.0922 4.5521 0.56% -0.05% -1.54% -0.12% 2.85% 1.29%
CHF 310.3173 312.6722 2.3549 -3.3404 9.4395 24.7525 0.76% -0.61% -1.08% -0.88% 3.04% 7.98%
JPY 1.7728 1.7892 0.0164 0.0141 0.2195 0.2167 0.93% -0.06% 0.8% -0.1% 12.38% 12.22%
SAR 74.2281 74.1768 -0.0513 -0.0714 2.0259 0.9347 -0.07% -0.02% -0.1% -0.03% 2.73% 1.26%
AED 75.7872 75.7409 -0.0463 -0.0647 2.0746 0.9555 -0.06% 0% -0.09% -0.02% 2.74% 1.26%
CNY 38.4078 38.4079 0.0001 0.0875 1.2619 1.2236 0% 0.02% 0.23% 0.06% 3.29% 3.19%

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 -1.05% 10.32% 04-Jul-23 05-Sep-23 342 279
EUR 291.618 332.701 41.083 -2.64% 11.08% 16-Oct-23 31-Aug-23 238 284
GBP 337.032 387.972 50.9401 -4.81% 9.58% 16-Oct-23 31-Aug-23 238 284
CHF 306.458 347.163 40.7049 -1.24% 11.87% 13-Oct-23 31-Aug-23 241 284
JPY 1.851 2.1004 0.2494 4.41% 18.48% 16-Oct-23 01-Sep-23 238 283
SAR 73.4412 81.8703 8.4291 -1.06% 10.3% 04-Jul-23 05-Sep-23 342 279
AED 74.9888 83.6089 8.6201 -1.05% 10.32% 04-Jul-23 05-Sep-23 342 279
CNY 37.8634 42.0637 4.2003 -1.42% 9.52% 16-Oct-23 01-Sep-23 238 283

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Posted on: 2024-06-10T16:40:23+05:00