PKR remains largely stable against USD

October 23, 2024 (MLN): The Pakistani rupee (PKR) remained largely stable against the US dollar in Wednesday's interbank session to settle the trade at PKR 277.73 per USD, compared to previous closing of 277.74.

Throughout the day, the currency saw an intraday high (bid) of 277.80 and a low (ask) of 277.70.

In the open market, exchange companies quoted the dollar at 276.94 for buying and 278.72 for selling.

In comparison to major currencies, PKR rose 1.44 rupees or 0.48% against the Euro, closing at 299.46 compared to the previous value of 300.90.

Against the British Pound, PKR gained by 1.07 rupees or 0.30% to 360.07 compared to 361.14 a day ago.

The local unit rose 1.05 rupees or 0.33% against Swiss franc to close at 320.06.

Against the Japanese Yen, PKR's value gained 1.86 paisa or 1.01% to close the session at 1.8229 versus 1.8415 a day ago.

Pakistani Rupee gained 2.40 paisa or 0.06% against Chinese Yuan to close at 38.98 from 39.00.

The local currency decreased by 0.93 paisa or 0.01% against Saudi Riyal to 73.96. While it appreciated by 0.25 paisa or 0.00% against the U.A.E Dirham to close at 75.61.

During the current fiscal year, PKR has strengthened against the US Dollar by 61.31 paisa or 0.22%. While it has appreciated 4.13 rupees or 1.49% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates fell 10 bps to 14.18% and 14.43%.

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