PKR strengthens by 10.55 rupees against greenback

MG News | July 04, 2023 at 04:56 PM GMT+05:00

0:00

July 04, 2023 (MLN): The Pakistani rupee (PKR) appreciated by 10.55 rupees against the US dollar in Tuesday's interbank session as the currency settled the trade at PKR 275.43 per USD, compared to the previous session's closing of PKR 285.99 per USD.

The currency saw an intraday high (bid) of 275.58 and a low (ask) of 275.43.

In the open market, Exchange Companies quoted the dollar at 275 for buying and 280 for selling.

This appreciation is attributed to the long-standing Staff Level Agreement (SLA) worth $3 billion finally being signed on Friday between the International Monetary Fund (IMF) and Pakistan.

Moreover, according to market experts, PKR will strengthen further and will stabilize.

In comparison to major currencies, PKR gained 12.79 rupees against the Euro, closing at 300.14 compared to the previous value of 312.93.

The British Pound became cheaper by 14.44 rupees closing at 349.69 compared to 364.13 from a day ago.

The Swiss franc saw losses of 12.28 rupees, closing at 307.47 compared to 319.75 from the previous session.

Against the Japanese Yen, PKR gained 8.46 paisa, closing at 1.90 versus 1.99 a day ago.

The Chinese Yuan lost 1.51 rupees, closing at 38.15 against 39.66 from the previous session.

The Saudi Riyal decreased in value by 2.87 rupees from 77.86 a day ago to 74.98.

The U.A.E Dirham closed at 73.44 with a loss of 2.81 rupees from its values of 76.25 a day ago.

During the current calendar year, PKR has depreciated by 49.01 rupees or 17.79%.

In the Money Market, the benchmark 6-Month Karachi Interbank Bid and Offer rates remained unchanged at 22.72% and 22.97%.

Performance Summary

Currency	Jul 04, 2023	Jun 27, 2023	Change	1 Month	FYTD	CYTD	1 Day %	7 Day %	1 Month %	MTD %	FYTD %	CYTD %
USD	275.43	285.99	10.55	10.23	10.55	-49.0068	3.83	3.83	3.72	3.83	3.83	-17.79
EUR	300.14	312.93	12.78	7.38	12.78	-58.83	4.26	4.26	2.46	4.26	4.26	-19.60
GBP	349.69	364.13	14.44	8.17	14.44	-76.62	4.13	4.13	2.34	4.13	4.13	-21.91
CHF	307.47	319.75	12.28	8.46	12.	-62.44	3.99	3.99	2.75	3.99	3.99	-20.31
JPY	1.90	1.99	0.0846	0.14	0.08	-0.19	4.43	4.43	7.75	4.43	4.43	-10.17
SAR	73.44	76.25	2.81	2.72	2.81	-13.23	3.83	3.83	3.70	3.83	3.83	-18.02
AED	74.98	77.86	2.87	2.7	2.87	-13.33	3.83	3.83	3.72	3.83	3.83	-17.78
CNY	38.15	39.66	1.51	2.19	1.51	-5.59	3.96	3.96	5.75	3.96	3.96	-14.66

52 Week Performance

Currency	High	Low	Trading Band	% Since High	% Since Low	High Date	Low Date	Days Since High	Days Since Low
USD	207.90	298.93	91.02	-24.52	8.53	07-Jul-22	11-May-23	362	54
EUR	210.60	326.85	116.25	-29.83	8.90	14-Jul-22	11-May-23	355	54
GBP	240.02	376.32	136.29	-31.36	7.62	11-Oct-22	11-May-23	266	54
CHF	213.28	334.22	120.94	-30.64	8.70	14-Jul-22	11-May-23	355	54
JPY	1.46	2.21	0.75	-23.07	16.26	21-Oct-22	11-May-23	256	54
SAR	55.38	79.70	24.32	-24.59	8.53	07-Jul-22	11-May-23	362	54
AED	56.60	81.40	24.80	-24.52	8.56	07-Jul-22	11-May-23	362	54
CNY	30.07	43.09	13.01	-21.19	12.92	25-Oct-22	11-May-23	252	54

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