Interbank closing: PKR gains 1.64 paisa against USD

WEB DESK: The Pakistani rupee (PKR) experienced a slight appreciation of 1.64 paisa against the US dollar during Thursday’s interbank session.

The local currency concluded the trading day at PKR 278.59 per USD, up from the previous session’s closing rate of PKR 278.61 per USD.

During the intraday trading, the rupee hit a high bid of 278.85 and a low ask of 278.65. In the open market, exchange companies quoted the dollar at PKR 277.48 for buying and PKR 280.12 for selling.

Against other major currencies, the British Pound increased by 98.2 paisa, closing at PKR 356.26 compared to PKR 355.28 from the previous day. The Swiss franc appreciated by 62.36 paisa, ending the session at PKR 311.26 from the prior rate of PKR 310.63.

The Chinese Yuan saw a minor gain of 0.78 paisa, closing at PKR 38.42, slightly up from PKR 38.41 in the previous session. The Japanese Yen saw a negligible gain of 0.03 paisa, settling at PKR 1.7713 against the previous day’s PKR 1.7716.

On the other hand, the U.A.E Dirham depreciated by 0.55 paisa, moving from PKR 75.85 to PKR 75.30. Similarly, the Saudi Riyal closed at PKR 74.27, losing 1.43 paisa from its previous value of PKR 74.28.

The Euro saw a significant rise against the PKR, with the rupee losing 1.89 rupees, closing at PKR 301.28 compared to the prior value of PKR 299.39.

The currency fluctuations reflect ongoing market adjustments and economic conditions influencing Pakistan’s forex market.

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