January 04, 2024 (MLN): The Pakistani rupee (PKR) appreciated by 5.08 paisa against the US dollar in Thursday's interbank session as the currency settled the trade at PKR 281.67 per USD, compared to the previous session's closing of PKR 281.72 per USD.
The currency witnessed an intraday high (bid) of 281.84 and a low (ask) of 281.8.
Meanwhile, in the open market, Exchange Companies quoted the dollar at 280.1 for buying and 282.53 for selling.
The local unit snapped its 13-day-long winning streak against the greenback in the first trading session of 2024, depreciating by a mere 3.37 paisa against the US dollar.
However, the home currency made a strong comeback yesterday and gained 17 paisa versus USD.
The positive market sentiments, attributed to the expectations of the approval of the second loan tranche worth $700 million by the International Monetary Fund (IMF), continue to benefit the local currency.
It is worth highlighting that Pakistan has been included in the IMF's meeting agenda for January 11, 2024.
Moreover, the latest trade numbers released by the Pakistan Bureau of Statistics (PBS) have also shown satisfactory results as the country's trade deficit reduced significantly by 13.43% MoM and 40.13% YoY in December.
The improvement in the trade deficit is attributed to a significant 9.29% MoM surge in exports, combined with a marginal yet crucial 0.55% MoM decline in imports.
In comparison to major currencies, PKR gained 56.27 paisa against the Euro, closing at 308.07 compared to the previous value of 308.63.
The British Pound became expensive by 1.25 rupees closing at 357.49 compared to 356.24 from a day ago.
The Swiss franc saw gains of 75.99 paisa, closing at 332.01 compared to 331.25 from the previous session.
Against the Japanese Yen, PKR gained 1.18 paisa, closing at 1.964 versus 1.9758 a day ago.
The Chinese Yuan lost 4.96 paisa, closing at 39.38 against 39.43 from the previous session.
The Saudi Riyal closed at 75.1 with a loss of 1.75 paisa from its values of 75.12 a day ago.
The U.A.E Dirham decreased in value by 1.28 paisa from 76.69 a day ago to 76.71.
During the current financial year, PKR has appreciated against the Dollar by 4.32 rupees or 1.53%. While the current calendar year has seen PKR appreciate by 18.73 paisa or 0.07%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 6 bps to 21.16 and 21.41%.
Performance Summary
| Currency | Jan 04, 2024 | Jan 03, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 281.6734 | 281.7242 | 0.0508 | 2.7016 | 4.3171 | 0.1873 | 0.02% | 0.09% | 0.96% | 0.07% | 1.53% | 0.07% |
| EUR | 308.0662 | 308.6289 | 0.5627 | -0.5146 | 4.8646 | 3.4321 | 0.18% | 1.76% | -0.17% | 1.11% | 1.58% | 1.11% |
| GBP | 357.4858 | 356.2403 | -1.2455 | 1.4808 | 6.6515 | 1.1114 | -0.35% | 1.1% | 0.41% | 0.31% | 1.86% | 0.31% |
| CHF | 332.0054 | 331.2455 | -0.7599 | -6.7823 | -12.2486 | 3.0644 | -0.23% | 1.16% | -2.04% | 0.92% | -3.69% | 0.92% |
| JPY | 1.964 | 1.9758 | 0.0118 | -0.0272 | 0.0283 | 0.0255 | 0.6% | 1.93% | -1.38% | 1.3% | 1.44% | 1.3% |
| SAR | 75.1049 | 75.1224 | 0.0175 | 0.7123 | 1.1491 | 0.0579 | 0.02% | 0.09% | 0.95% | 0.08% | 1.53% | 0.08% |
| AED | 76.6928 | 76.7056 | 0.0128 | 0.7472 | 1.169 | 0.0499 | 0.02% | 0.09% | 0.97% | 0.07% | 1.52% | 0.07% |
| CNY | 39.3844 | 39.434 | 0.0496 | 0.4148 | 0.2853 | 0.247 | 0.13% | 0.74% | 1.05% | 0.63% | 0.72% | 0.63% |
52 Week Performance
| Currency | High | Low | Trading Band | % Since High | % Since Low | High Date | Low Date | Days Since High | Days Since Low |
|---|---|---|---|---|---|---|---|---|---|
| USD | 227.119 | 307.1 | 79.9802 | -19.37% | 9.03% | 05-Jan-23 | 05-Sep-23 | 364 | 121 |
| EUR | 239.154 | 332.701 | 93.547 | -22.37% | 8% | 06-Jan-23 | 31-Aug-23 | 363 | 126 |
| GBP | 270.362 | 387.972 | 117.6101 | -24.37% | 8.53% | 06-Jan-23 | 31-Aug-23 | 363 | 126 |
| CHF | 242.255 | 347.163 | 104.9084 | -27.03% | 4.57% | 06-Jan-23 | 31-Aug-23 | 363 | 126 |
| JPY | 1.6921 | 2.2178 | 0.5257 | -13.84% | 12.92% | 06-Jan-23 | 11-May-23 | 363 | 238 |
| SAR | 60.4121 | 81.8703 | 21.4582 | -19.56% | 9.01% | 05-Jan-23 | 05-Sep-23 | 364 | 121 |
| AED | 61.8349 | 83.6089 | 21.774 | -19.37% | 9.02% | 05-Jan-23 | 05-Sep-23 | 364 | 121 |
| CNY | 33.0351 | 43.0908 | 10.0557 | -16.12% | 9.41% | 05-Jan-23 | 11-May-23 | 364 | 238 |
Copyright Mettis Link News
Posted on: 2024-01-04T15:48:00+05:00
