PKR strengthens by 20 paisa against USD

October 25, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 20.00 paisa or 0.07% against the US dollar in Friday's interbank session to settle the trade at PKR 277.64 per USD, compared to previous closing of 277.84.

Throughout the day, the currency saw an intraday high (bid) of 277.70 and a low (ask) of 277.50.

On a weekly basis, the local unit lost 3 paisa or 0.01% against USD.

In the open market, exchange companies quoted the dollar at 276.75 for buying and 278.62 for selling.

In comparison to major currencies, PKR depreciated 50.59 paisa or 0.17% against the Euro, closing at 300.59 compared to the previous value of 300.08.

Against the British Pound, PKR appreciated by 20.39 paisa or 0.06% to 360.20 compared to 360.40 a day ago.

The local unit appreciated 41.58 paisa or 0.13% against Swiss franc to close at 320.36.

Against the Japanese Yen, PKR's value fell 0.13 paisa or 0.07% to close the session at 1.8269 versus 1.8256 a day ago.

Pakistani Rupee increased 9.55 paisa or 0.24% against Chinese Yuan to close at 38.98 from 39.07.

The local currency rose by 6.50 paisa or 0.09% against Saudi Riyal to 73.92. While it rose by 5.35 paisa or 0.07% against the U.A.E Dirham to close at 75.59.

During the current fiscal year, PKR has increased against the US Dollar by 69.89 paisa or 0.25%. While it has appreciated 4.22 rupees or 1.52% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates fell by 19 bps to 13.87% and 14.12%.

Meanwhile, the State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (OMO) today, in which it cumulatively injected a total of Rs4.26 trillion into the market.

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