PKR rebounds against USD, jumps 17 paisa

May 23, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 17.32 paisa against the US dollar in Thursday's interbank session as the currency settled the trade at PKR 278.3 per USD, compared to the previous session's closing of PKR 278.47 per USD.

The currency saw an intraday high (bid) of 278.5 and a low (ask) of 278.3.

In the open market, exchange companies quoted the dollar at 277.25 for buying and 280.00 for selling.

In comparison to major currencies, PKR gained 63.34 paisa against the Euro, closing at 301.68 compared to the previous value of 302.31.

The British Pound became cheaper by 1.03 rupees closing at 353.86 compared to 354.89 from a day ago.

The Swiss franc saw losses of 60.66 paisa, closing at 304.44 compared to 305.04 from the previous session.

Against the Japanese Yen, PKR gained 0.43 paisa, closing at 1.7759 versus 1.7802 a day ago.

The Chinese Yuan lost 4.96 paisa, closing at 38.42 against 38.46 from the previous session.

The Saudi Riyal closed at 74.2 with a loss of 4.62 paisa from its value of 74.25 a day ago.

The U.A.E Dirham decreased in value by 4.82 paisa from 75.77 a day ago to 75.82.

During the current financial year, PKR has appreciated against the Dollar by 7.69 rupees or 2.76%. While the current calendar year has seen PKR appreciate by 3.56 rupees or 1.28%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched up by 1 bps to 21.02% and 21.27%.

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