PKR weakens by 6 paisa against USD

January 06, 2025 (MLN): The Pakistani rupee (PKR) depreciated by 5.95 paisa or 0.02% against the US dollar in Monday's interbank session to settle the trade at PKR 278.62 per USD, compared to previous closing of 278.56.

Throughout the day, the currency saw an intraday high (bid) of 278.65 and a low (ask) of 278.60.

In the open market, exchange companies quoted the dollar at 278.50 for buying and 279.85 for selling.

Compared to major currencies, PKR decreased 1.29 rupees or 0.45% against the Euro, closing at 287.86 compared to the previous value of 286.57.

Against the British Pound, PKR deteriorated by 1.52 rupees or 0.44% to 347.08 compared to 345.56 a day ago.

The local unit depreciated 87.48 paisa or 0.29% against Swiss franc to close at 306.94.

Against the Japanese Yen, PKR's value increased 0.55 paisa or 0.31% to close the session at 1.7668 versus 1.7723 a day ago.

Pakistani Rupee strengthened 9.90 paisa or 0.26% against Chinese Yuan to close at 38.01 from 38.11.

The local currency decreased by 1.78 paisa or 0.02% against Saudi Riyal to 74.20. While it deteriorated by 1.62 paisa or 0.02% against the U.A.E Dirham to close at 75.86.

During the current fiscal year, PKR has weakened against the US Dollar by 27.99 paisa or 0.10%. While it has decreased 7.11 paisa or 0.03% so far this calendar year.

In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 3bps to 11.80% and 12.05%.

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