PKR loses around 9 paisa against USD in a week
By MG News | May 17, 2024 at 03:42 PM GMT+05:00
May 17, 2024 (MLN): The Pakistani rupee (PKR) depreciated by around 9 paisa against the US dollar this week and settled at PKR 278.21 per USD, compared to the previous week's closing of PKR 278.12 per USD.
Meanwhile, in today's session alone, PKR rebounded and gained 19.5 paisa against USD.
Throughout Friday's session, the currency saw an intraday high (bid) of 278.65 and a low (ask) of 278.45.
In the open market, exchange companies quoted the dollar at 276.96 for buying and 279.50 for selling.
In comparison to major currencies, PKR gained 86.59 paisa against the Euro on a daily basis, closing at 301.84 compared to the previous value of 302.71.
The British Pound became cheaper by 1.05 rupees closing at 351.95 compared to 353 from a day ago.
The Swiss franc saw losses of 3.16 rupees, closing at 306.15 compared to 309.3 from the previous session.
Against the Japanese Yen, PKR gained 1.8 paisa, closing at 1.7847 versus 1.8027 a day ago.
The Chinese Yuan lost 5.85 paisa, closing at 38.51 against 38.57 from the previous session.
The Saudi Riyal closed at 74.18 with a loss of 5.2 paisa from its value of 74.23 a day ago.
The U.A.E Dirham decreased in value by 5.41 paisa from 75.74 a day ago to 75.8.
During the current financial year, PKR has appreciated against the Dollar by 7.78 rupees or 2.8%. While the current calendar year has seen PKR appreciate by 3.65 rupees or 1.31%.
In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates inched down by 6 bps to 21.04% and 21.29%.
This marks the second consecutive drop in yields due to Wednesday's Market-T Bills auction in which the cut-off yields dropped by up to 49bps.
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 Rs809.7 billion into the market.
Of which Rs747.7bn were injected through reverse repo OMO.
Meanwhile, the remaining Rs62bn was injected through Shariah-compliant Modarabah-based OMO.
Performance Summary
| Currency | May 17, 2024 | May 16, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 278.2097 | 278.4047 | 0.195 | 0.2266 | 7.7808 | 3.651 | 0.07% | -0.03% | 0.08% | 0.04% | 2.8% | 1.31% |
| EUR | 301.8436 | 302.7095 | 0.8659 | -4.3623 | 11.0872 | 9.6547 | 0.29% | -0.63% | -1.45% | -1.29% | 3.67% | 3.2% |
| GBP | 351.9492 | 353.0033 | 1.0541 | -4.6 | 12.1881 | 6.648 | 0.3% | -0.95% | -1.31% | -0.84% | 3.46% | 1.89% |
| CHF | 306.1455 | 309.3042 | 3.1587 | 0.2324 | 13.6113 | 28.9243 | 1.03% | 0.27% | 0.08% | -0.42% | 4.45% | 9.45% |
| JPY | 1.7847 | 1.8027 | 0.018 | 0.0199 | 0.2076 | 0.2048 | 1.01% | 0.12% | 1.12% | -0.55% | 11.63% | 11.48% |
| SAR | 74.1813 | 74.2333 | 0.052 | 0.0446 | 2.0727 | 0.9815 | 0.07% | -0.03% | 0.06% | 0.03% | 2.79% | 1.32% |
| AED | 75.7435 | 75.7976 | 0.0541 | 0.0751 | 2.1183 | 0.9992 | 0.07% | -0.03% | 0.1% | 0.04% | 2.8% | 1.32% |
| CNY | 38.5145 | 38.573 | 0.0585 | -0.0535 | 1.1552 | 1.1169 | 0.15% | -0.05% | -0.14% | -0.21% | 3% | 2.9% |
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% | 10.38% | 04-Jul-23 | 05-Sep-23 | 318 | 255 |
| EUR | 291.618 | 332.701 | 41.083 | -3.39% | 10.22% | 16-Oct-23 | 31-Aug-23 | 214 | 260 |
| GBP | 337.032 | 387.972 | 50.9401 | -4.24% | 10.24% | 16-Oct-23 | 31-Aug-23 | 214 | 260 |
| CHF | 306.458 | 347.163 | 40.7049 | 0.1% | 13.4% | 13-Oct-23 | 31-Aug-23 | 217 | 260 |
| JPY | 1.851 | 2.1004 | 0.2494 | 3.71% | 17.69% | 16-Oct-23 | 01-Sep-23 | 214 | 259 |
| SAR | 73.4412 | 81.8703 | 8.4291 | -1% | 10.37% | 04-Jul-23 | 05-Sep-23 | 318 | 255 |
| AED | 74.9888 | 83.6089 | 8.6201 | -1% | 10.38% | 04-Jul-23 | 05-Sep-23 | 318 | 255 |
| CNY | 37.8634 | 42.0637 | 4.2003 | -1.69% | 9.22% | 16-Oct-23 | 01-Sep-23 | 214 | 259 |
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