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PKR rebounds, inches higher against USD

Overseas investors repatriate $1.8bn profit in 11MFY24
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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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Posted on: 2024-06-13T16:21:35+05:00