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 |
Copyright Mettis Link News
Posted on: 2024-06-10T16:40:23+05:00
