Intraday trade: PKR gains 2 paisa against USD
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- Web Desk
- Jan 29, 2025
KARACHI: The Pakistani rupee (PKR) showed a slight improvement against the US dollar (USD), appreciating by 0.07 per cent in the interbank market during the early trading hours on Wednesday.
By 11:00 AM, the PKR was trading at Rs278.73, gaining two paisa against the dollar.
On the international front, the US dollar remained steady as traders shifted back to the currency from safe-haven assets like the Japanese yen.
The dollar also received support from renewed tariff warnings issued by the Donald Trump administration.
The dollar index, which tracks the USD against six major currencies, held steady at 107.91 after two consecutive days of 0.2 per cent gains.
Last week, the index slipped by 0.6 per cent as traders anticipated that US President Donald Trump’s proposed tariffs would be less severe than initially expected.
Previous PKR closing
On Tuesday, the PKR depreciated by 9.25 paisa or 0.03 per cent against the USD in the interbank market, closing at Rs278.93 compared to the previous close of Rs278.83.
Most currency exchange companies quoted the dollar at Rs279-Rs279.50 for buying and Rs281 for selling.
So far in the current fiscal year, the PKR has depreciated by 58.38 paisa or 0.21 per cent against the dollar. Since the start of 2025, it has declined by 37.50 paisa or 0.13 per cent.
Performance against other currencies
On the previous trading day, the PKR showed mixed performance against various foreign currencies:
The PKR weakened by 2.96 paisa or 0.04 per cent against the Saudi Riyal, closing at Rs74.36.
It strengthened by 68.43 paisa or 0.23 per cent against the Euro, ending at Rs291.03, compared to the previous rate of Rs291.71.
The PKR fell by 2.52 paisa or 0.03 per cent against the UAE Dirham, closing at Rs75.94.
It depreciated by 8.21 paisa or 0.21 per cent against the Chinese Yuan, closing at Rs38.47 from Rs38.38.
The PKR declined by 22.65 paisa or 0.07 per cent against the British Pound, closing at Rs347.02, compared to Rs346.80 a day earlier.
Against the Swiss Franc, the PKR dropped by 27.18 paisa or 0.09 per cent to Rs307.86.
The PKR lost 0.35 paisa or 0.20 per cent against the Japanese Yen, closing at Rs1.7922 compared to Rs1.7887 a day ago.
Gold price in Pakistan
Meanwhile, gold prices in Pakistan decreased on Tuesday. The price of 24-karat gold fell by Rs2,700, reaching Rs286,400 per tola.
The price of 24-karat gold per 10 grammes also dropped, selling at Rs245,541 after a decline of Rs2,315, according to the All-Pakistan Gems and Jewellers Sarafa Association.
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