January 25, 2024 (MLN): The Pakistani rupee (PKR) remained stable against the US dollar in Thursday's interbank session and settled the trade at PKR 279.67 per USD, similar to that of the previous session.
Throughout the session, the currency saw an intraday high (bid) of 280 and a low (ask) of 279.5.
In the open market, exchange companies quoted the dollar at 278.89 for buying and 280.94 for selling.
In comparison to major currencies, PKR lost 27.41 paisa against the Euro, closing at 304.48 compared to the previous value of 304.2.
The British Pound became expensive by 18.93 paisa closing at 355.82 compared to 355.63 from a day ago.
The Swiss franc saw gains of 1.37 rupees, closing at 323.69 compared to 322.32 from the previous session.
Against the Japanese Yen, PKR gained 0.1 paisa, closing at 1.8925 versus 1.8935 a day ago.
The Chinese Yuan lost 0.73 paisa, closing at 39.03 against 39.03 from the previous session.
The Saudi Riyal closed at 74.58 with a gain of 0.36 paisa from its value of 74.57 a day ago.
The U.A.E Dirham decreased in value by 0.04 paisa from 76.14 a day ago to 76.14.
During the current financial year, PKR has appreciated against the Dollar by 6.32 rupees or 2.26%. While the current calendar year has seen PKR appreciate by 2.19 rupees or 0.78%.
In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates went down by 20 bps to 20.37% and 20.62%.
It is pertinent to note that the 6-month KIBOR has dropped to its lowest level since March 02, 2023, after yesterday's auction of Market Treasury bills (MTB) witnessed a drop of up to 62bps in yields.
The persistent drop in yields is attributed to market participants' expectations that interest rates have peaked and are expected to fall in the coming months.
Performance Summary
| Currency | Jan 25, 2024 | Jan 24, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 279.6687 | 279.6738 | 0.0051 | 2.7017 | 6.3218 | 2.192 | 0% | 0.11% | 0.97% | 0.78% | 2.26% | 0.78% |
| EUR | 304.4753 | 304.2012 | -0.2741 | 6.7957 | 8.4555 | 7.023 | -0.09% | 0.06% | 2.23% | 2.31% | 2.78% | 2.31% |
| GBP | 355.8225 | 355.6332 | -0.1893 | 2.6608 | 8.3148 | 2.7747 | -0.05% | -0.16% | 0.75% | 0.78% | 2.34% | 0.78% |
| CHF | 323.6906 | 322.3163 | -1.3743 | 6.2006 | -3.9338 | 11.3792 | -0.42% | -0.01% | 1.92% | 3.52% | -1.22% | 3.52% |
| JPY | 1.8925 | 1.8935 | 0.001 | 0.0916 | 0.0998 | 0.097 | 0.05% | 0.08% | 4.84% | 5.13% | 5.27% | 5.13% |
| SAR | 74.5763 | 74.5727 | -0.0036 | 0.6944 | 1.6777 | 0.5865 | 0% | 0.1% | 0.93% | 0.79% | 2.25% | 0.79% |
| AED | 76.1438 | 76.1442 | 0.0004 | 0.7419 | 1.718 | 0.5989 | 0% | 0.11% | 0.97% | 0.79% | 2.26% | 0.79% |
| CNY | 39.0255 | 39.0328 | 0.0073 | 0.4904 | 0.6442 | 0.6059 | 0.02% | -0.32% | 1.26% | 1.55% | 1.65% | 1.55% |
52 Week Performance
| Currency | High | Low | Trading Band | % Since High | % Since Low | High Date | Low Date | Days Since High | Days Since Low |
|---|---|---|---|---|---|---|---|---|---|
| USD | 255.43 | 307.1 | 51.6701 | -8.67% | 9.81% | 26-Jan-23 | 05-Sep-23 | 364 | 142 |
| EUR | 274.296 | 332.701 | 58.4043 | -9.91% | 9.27% | 27-Feb-23 | 31-Aug-23 | 332 | 147 |
| GBP | 310.789 | 387.972 | 77.183 | -12.66% | 9.04% | 27-Feb-23 | 31-Aug-23 | 332 | 147 |
| CHF | 275.926 | 347.163 | 71.2367 | -14.76% | 7.25% | 27-Feb-23 | 31-Aug-23 | 332 | 147 |
| JPY | 1.851 | 2.2178 | 0.3668 | -2.19% | 17.19% | 16-Oct-23 | 11-May-23 | 101 | 259 |
| SAR | 68.0411 | 81.8703 | 13.8292 | -8.76% | 9.78% | 26-Jan-23 | 05-Sep-23 | 364 | 142 |
| AED | 69.5425 | 83.6089 | 14.0664 | -8.67% | 9.8% | 26-Jan-23 | 05-Sep-23 | 364 | 142 |
| CNY | 37.3219 | 43.0908 | 5.7689 | -4.37% | 10.42% | 27-Feb-23 | 11-May-23 | 332 | 259 |
Copyright Mettis Link News
Posted on: 2024-01-25T15:50:27+05:00
