PKR rebounds, inches higher against USD

By MG News | June 13, 2024 at 04:21 PM GMT+05:00

0:00

June 13, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 1.64 paisa against the US dollar in Thursday's interbank session as the currency settled the trade at PKR 278.59 per USD, compared to the previous session's closing of PKR 278.61 per USD.

The currency saw an intraday high (bid) of 278.85 and a low (ask) of 278.65.

In the open market, exchange companies quoted the dollar at 277.48 for buying and 280.12 for selling.

The domestic currency saw an upward momentum against the USD today following the announcement of budget 2024-25 yesterday.

The budget would lay the foundation for a larger and extended program with the International Monetary Fund (IMF), which the country is seeking to achieve economic stability.

In comparison to major currencies, PKR lost 1.89 rupees against the Euro, closing at 301.28 compared to the previous value of 299.39.

The British Pound became expensive by 98.2 paisa closing at 356.26 compared to 355.28 from a day ago.

The Swiss franc saw gains of 62.36 paisa, closing at 311.26 compared to 310.63 from the previous session.

Against the Japanese Yen, PKR gained 0.03 paisa, closing at 1.7713 versus 1.7716 a day ago.

The Chinese Yuan gained 0.78 paisa, closing at 38.42 against 38.41 from the previous session.

The Saudi Riyal closed at 74.27 with a loss of 1.43 paisa from its value of 74.28 a day ago.

The U.A.E Dirham decreased in value by 0.55 paisa from 75.85 a day ago to 75.85.

During the current financial year, PKR has appreciated against the Dollar by 7.4 rupees or 2.66%. While the current calendar year has seen PKR appreciate by 3.27 rupees or 1.17%.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 4 bps to 19.82% and 20.07%.

Performance Summary

Currency	Jun 13, 2024	Jun 12, 2024	Change	1 Month	FYTD	CYTD	1 Day	7 Day	1 Month	MTD	FYTD	CYTD
USD	278.5919	278.6083	0.0164	-0.4077	7.3986	3.2688	0.01%	-0.07%	-0.15%	-0.1%	2.66%	1.17%
EUR	301.2832	299.3925	-1.8907	-1.345	11.6476	10.2151	-0.63%	0.48%	-0.45%	-0.02%	3.87%	3.39%
GBP	356.2633	355.2813	-0.982	-7.7124	7.874	2.3339	-0.28%	-0.11%	-2.16%	-0.74%	2.21%	0.66%
CHF	311.2584	310.6348	-0.6236	-5.023	8.4984	23.8114	-0.2%	0.21%	-1.61%	-1.18%	2.73%	7.65%
JPY	1.7713	1.7716	0.0003	0.0064	0.221	0.2182	0.02%	0.52%	0.36%	-0.01%	12.48%	12.32%
SAR	74.2654	74.2797	0.0143	-0.0909	1.9886	0.8974	0.02%	-0.05%	-0.12%	-0.08%	2.68%	1.21%
AED	75.8476	75.8531	0.0055	-0.11	2.0142	0.8951	0.01%	-0.07%	-0.15%	-0.1%	2.66%	1.18%
CNY	38.4167	38.4089	-0.0078	0.0219	1.253	1.2147	-0.02%	-0.01%	0.06%	0.04%	3.26%	3.16%

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	-1.13%	10.23%	04-Jul-23	05-Sep-23	345	282
EUR	291.618	332.701	41.083	-3.21%	10.43%	16-Oct-23	31-Aug-23	241	287
GBP	337.032	387.972	50.9401	-5.4%	8.9%	16-Oct-23	31-Aug-23	241	287
CHF	306.458	347.163	40.7049	-1.54%	11.54%	13-Oct-23	31-Aug-23	244	287
JPY	1.851	2.1004	0.2494	4.5%	18.58%	16-Oct-23	01-Sep-23	241	286
SAR	73.4412	81.8703	8.4291	-1.11%	10.24%	04-Jul-23	05-Sep-23	345	282
AED	74.9888	83.6089	8.6201	-1.13%	10.23%	04-Jul-23	05-Sep-23	345	282
CNY	37.8634	42.0637	4.2003	-1.44%	9.49%	16-Oct-23	01-Sep-23	241	286

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