PKR trades 18 paisa lower against USD

June 15, 2023 (MLN): The Pakistani rupee (PKR) depreciated by 18.23 Paisa against the US dollar in Thursday's interbank session as the currency settled the trade at PKR 287.36 per USD, compared to the previous session's closing of PKR 287.18 per USD.

The currency saw an intraday high (bid) of 287.45 and a low (ask) of 287.35.

In the open market, Exchange Companies quoted the dollar at 292 for buying and 296 for selling.

In comparison to major currencies, PKR lost 1.03 rupees against the Euro, closing at 311.18 compared to the previous value of 310.15.

The British Pound became more expensive by 96.3 paisa closing at 363.69 compared to 362.72 from a day ago.

The Swiss franc saw gains of 41.25 paisa, closing at 317.95 compared to 317.54 from the previous session.

Against the Japanese Yen, PKR gained 1.83 paisa, closing at 2.03 versus 2.05 a day ago.

The Chinese Yuan gained 6.58 paisa, closing at 40.17 against 40.11 from the previous session.

The Saudi Riyal increased in value by 4.96 paisa from 78.19 a day ago to 78.23.

The U.A.E Dirham closed at 76.62 with a gain of 5.68 paisa from its values of 76.57 a day ago.

During the current financial year, PKR has depreciated against the Dollar by 82.52 Rupees or 28.72%. While the current calendar year has seen PKR depreciate by 60.94 rupees or 21.2%.

In the money market, the benchmark 6-Month Karachi Interbank Bid and Offer rates inched up by 4 bps to 21.87 and 22.12%.

Furthermore, the State Bank of Pakistan (SBP) conducted a reverse repo Open Market Operation (OMO) today, in which it injected a total of Rs1.29 trillion into the market for a 1-day tenor at the rate of 21.1%.

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