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PKR sheds 8 paisa against greenback

Repatriation of profit surges to $759.2m in 8MFY24
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February 27, 2024 (MLN): The Pakistani rupee (PKR) depreciated by 8 paisa against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 279.28 per USD, compared to the previous session's closing of PKR 279.2 per USD.

The currency saw an intraday high (bid) of 279.4 and a low (ask) of 279.

In the open market, exchange companies quoted the dollar at 279.45 for buying and 282.04 for selling.

The uncertainty surrounding the general elections held in the country on February 08, has somewhat disrupted the stable phase the home unit maintained against the USD for a significant period.

Last week even though the domestic currency closed stable against the USD, it witnessed continuous fluctuations throughout the week.

It is crucial to mention that the International Monetary Fund (IMF) on Thursday expressed its eagerness to collaborate with the new government on policies to ensure macroeconomic stability. 

The Fund appreciated the caretaker government of Pakistan for its efforts in maintaining economic stability through strict adherence to fiscal targets, while also safeguarding the social safety net.

In comparison to major currencies, PKR lost 86.47 paisa against the Euro, closing at 303.18 compared to the previous value of 302.32.

The British Pound became expensive by 54.37 paisa closing at 354.42 compared to 353.87 from a day ago.

The Swiss franc saw gains of 71.79 paisa, closing at 317.7 compared to 316.98 from the previous session.

Against the Japanese Yen, PKR lost 0.19 paisa, closing at 1.8574 versus 1.8555 a day ago.

The Chinese Yuan gained 0.95 paisa, closing at 38.8 against 38.79 from the previous session.

The Saudi Riyal closed at 74.47 with a gain of 2.04 paisa from its value of 74.45 a day ago.

The U.A.E Dirham increased in value by 1.77 paisa from 76.03 a day ago to 76.02.

During the current financial year, PKR has appreciated against the Dollar by 6.71 rupees or 2.4%. While the current calendar year has seen PKR appreciate by 2.58 rupees or 0.93%.

In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates remained unchanged at 21.49% and 21.74%.

Performance Summary

Currency Feb 27, 2024 Feb 26, 2024 Change 1 Month FYTD CYTD 1 Day 7 Day 1 Month MTD FYTD CYTD
USD 279.2764 279.2 -0.0764 0.3173 6.7141 2.5843 -0.03% 0.1% 0.11% 0.08% 2.4% 0.93%
EUR 303.1825 302.3178 -0.8647 -0.718 9.7483 8.3158 -0.29% -0.64% -0.24% -0.28% 3.22% 2.74%
GBP 354.4158 353.8721 -0.5437 0.2069 9.7215 4.1814 -0.15% -0.7% 0.06% -0.04% 2.74% 1.18%
CHF 317.7026 316.9847 -0.7179 4.5957 2.0542 17.3672 -0.23% -0.4% 1.45% 1.87% 0.65% 5.47%
JPY 1.8574 1.8555 -0.0019 0.0341 0.1349 0.1321 -0.1% 0.1% 1.84% 1.91% 7.26% 7.11%
SAR 74.4658 74.4454 -0.0204 0.0905 1.7882 0.697 -0.03% 0.1% 0.12% 0.09% 2.4% 0.94%
AED 76.0329 76.0152 -0.0177 0.0905 1.8289 0.7098 -0.02% 0.11% 0.12% 0.08% 2.41% 0.93%
CNY 38.7967 38.7872 -0.0095 0.1445 0.873 0.8347 -0.02% 0.1% 0.37% 0.32% 2.25% 2.15%

52 Week Performance

Currency High Low Trading Band % Since High % Since Low High Date Low Date Days Since High Days Since Low
USD 261.504 307.1 45.5952 -6.36% 9.96% 28-Feb-23 05-Sep-23 364 175
EUR 277.221 332.701 55.4797 -8.56% 9.74% 28-Feb-23 31-Aug-23 364 180
GBP 314.838 387.972 73.1341 -11.17% 9.47% 28-Feb-23 31-Aug-23 364 180
CHF 278.73 347.163 68.4331 -12.27% 9.27% 28-Feb-23 31-Aug-23 364 180
JPY 1.851 2.2178 0.3668 -0.34% 19.4% 16-Oct-23 11-May-23 134 292
SAR 69.6788 81.8703 12.1915 -6.43% 9.94% 28-Feb-23 05-Sep-23 364 175
AED 71.1993 83.6089 12.4096 -6.36% 9.96% 28-Feb-23 05-Sep-23 364 175
CNY 37.6824 43.0908 5.4084 -2.87% 11.07% 28-Feb-23 11-May-23 364 292

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Posted on: 2024-02-27T16:41:46+05:00