In the latest financial update from Thursday’s interbank session, the Pakistani Rupee (PKR) registered a slight improvement against the US dollar, closing at 278.4 per USD. This marks a minor increase from the previous session’s close of 278.41 per USD.
The currency experienced fluctuations within the day, reaching an intraday high of 278.65 and a low of 278.45 against the dollar.
The exchange rates in the open market were also notable, with exchange companies listing the buying price of the dollar at 278.48 and the selling price at 281.12.
This slight appreciation of the PKR against the USD is part of a broader financial picture, where the PKR has seen an overall appreciation of 7.6 rupees or 2.73% against the dollar in the current financial year, and a 3.47 rupees or 1.24% increase since the start of the calendar year.
However, the PKR’s performance against other major currencies was mixed. The Euro, British Pound, and Swiss Franc all gained against the PKR, while the Japanese Yen and Chinese Yuan saw minor declines in value.
Specifically, the PKR depreciated by 1.84 rupees against the Euro, 2.08 rupees against the British Pound, and 1.36 rupees against the Swiss Franc.
Meanwhile, it lost 0.31 paisa against the Japanese Yen and 0.19 paisa against the Chinese Yuan. The currency also saw slight adjustments against the Saudi Riyal and the U.A.E Dirham.
In the domestic financial landscape, the Money Market’s benchmark 6 Month Karachi Interbank Bid and Offer rates experienced a slight increase by 5 basis points, settling at 21.23% and 21.48% respectively.
Following a recent auction of T-bills, secondary market yields have also seen an upward adjustment.
