June 14, 2023 (MLN): The Pakistani rupee (PKR) appreciated by 78.84 Paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 287.1846 per USD, compared to the previous session's closing of PKR 287.973 per USD.
The currency saw an intraday high (bid) of 287.4 and a low (ask) of 287.35. In the open market, Exchange Companies quoted the dollar at 291.0 for buying and 295.0 for selling.
The gap between the interbank and open market rates narrowed as a result of banks releasing $5 million in pending payments to exchange companies yesterday.
Malik Bostan, the President of Forex Association of Pakistan, expressed that the government’s initiative of the diamond card for overseas Pakistanis would help increase the Workers' remittances, which would result in an inflow of dollars.
In comparison to major currencies, PKR gained 1.02 Rupees against the Euro, closing at 310.15 compared to the previous value of 311.18.
The British Pound became more expensive by 89.04 Paisa closing at 362.72 compared to 361.83 from a day ago.
The Swiss franc saw losses of 73.09 Paisa, closing at 317.54 compared to 318.27 from the previous session.
Against the Japanese Yen, PKR gained 1.2 Paisa, closing at 2.0521 versus 2.0641 a day ago.
The Chinese Yuan lost 16.04 Paisa, closing at 40.11 against 40.27 from the previous session.
The Saudi Riyal decreased in value by 21.46 Paisa from 78.40 a day ago to 78.19.
The U.A.E Dirham closed at 76.57 with a loss of 21.43 Paisa from its values of 76.78 a day ago.
During the current financial year, PKR has depreciated against the Dollar by 82.34 Rupees or 28.67%. While the current calendar year has seen PKR depreciate by 60.75 Rupees or 21.15%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 3.0 bps to 21.83% and 22.08%.
Performance Summary
| Currency | Jun 14, 2023 | Jun 13, 2023 | Change | 1 Month | FYTD | CYTD | 1 Day % | 7 Day % | 1 Month % | MTD % | FYTD % | CYTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 287.18 | 287.97 | 0.78 | -2.21 | -82.33 | -60.75 | 0.27 | -0.10 | -0.77 | -0.60 | -28.67 | -21.15 |
| EUR | 310.15 | 311.18 | 1.02 | -0.43 | -96.35 | -68.85 | 0.33 | -1.18 | -0.14 | -1.83 | -31.06 | -22.20 |
| GBP | 362.72 | 361.83 | -0.89 | -6.96 | -114.24 | -89.65 | -0.25 | -1.86 | -1.92 | -2.79 | -31.50 | -24.72 |
| CHF | 317.54 | 318.27 | 0.73 | 0.11 | -103.15 | -72.51 | 0.23 | -0.47 | 0.03 | -1.39 | -32.49 | -22.84 |
| JPY | 2.05 | 2.06 | 0.01 | 0.04 | -0.54 | -0.33 | 0.58 | 0.27 | 2.00 | -0.42 | -26.68 | -16.50 |
| SAR | 76.57 | 76.78 | 0.21 | -0.58 | -21.97 | -16.36 | 0.28 | -0.10 | -0.77 | -0.60 | -28.70 | -21.37 |
| AED | 78.19 | 78.40 | 0.21 | -0.58 | -22.42 | -16.53 | 0.27 | -0.10 | -0.75 | -0.60 | -28.67 | -21.15 |
| CNY | 40.11 | 40.27 | 0.16 | 0.87 | -9.51 | -7.54 | 0.40 | 0.36 | 2.17 | 0.18 | -23.71 | -18.81 |
52 Week Performance
| Currency | High | Low | Trading Band | % Since High | % Since Low | High Date | Low Date | Days Since High | Days Since Low |
|---|---|---|---|---|---|---|---|---|---|
| USD | 204.56 | 298.93 | 94.36 | -28.77 | 4.09 | 04-Jul-22 | 11-May-23 | 345 | 34 |
| EUR | 210.60 | 326.85 | 116.25 | -32.10 | 5.38 | 14-Jul-22 | 11-May-23 | 335 | 34 |
| GBP | 240.02 | 376.32 | 136.29 | -33.83 | 3.75 | 11-Oct-22 | 11-May-23 | 246 | 34 |
| CHF | 211.21 | 334.22 | 123.01 | -33.49 | 5.25 | 16-Jun-22 | 11-May-23 | 363 | 34 |
| JPY | 1.46 | 2.21 | 0.75 | -28.48 | 8.07 | 21-Oct-22 | 11-May-23 | 236 | 34 |
| SAR | 54.50 | 79.70 | 25.20 | -28.82 | 4.09 | 04-Jul-22 | 11-May-23 | 345 | 34 |
| AED | 55.69 | 81.40 | 25.71 | -28.77 | 4.11 | 04-Jul-22 | 11-May-23 | 345 | 34 |
| CNY | 30.07 | 43.09 | 13.01 | -25.03 | 7.43 | 25-Oct-22 | 11-May-23 | 232 | 34 |
Copyright Mettis Link News
Posted on: 2023-06-14T15:43:57+05:00
