Interbank closing: PKR gains one paisa against USD

WEB DESK: In the latest financial update, the Pakistani rupee (PKR) demonstrated stability against the US dollar in the inter-bank market, closing at Rs279.11, marking a marginal gain of one paisa.

This follows a similar trend observed on Wednesday, where the rupee saw a slight increase of Rs0.01.

In the open market, where exchange rates may vary, the US dollar was quoted between Rs281 for buying and Rs282.3 for selling.

The performance of the PKR was mixed against other major currencies. It experienced depreciation against the Euro (down 29.9 paisa) and the Japanese Yen (down 1.41 paisa).

Conversely, it strengthened against the British Pound (up 6.52 paisa) and the Saudi Riyal (up 0.3 paisa).

Noteworthy gains were observed in the Swiss Franc, which rose by 76.69 paisa, while the Chinese Yuan also appreciated slightly, with an increase of 2.65 paisa.

On the other hand, the UAE dirham remained relatively stable.

Taking a broader perspective, the Pakistani rupee has showcased commendable performance against the US dollar over the past year.

During the current financial year, it has strengthened by 6.88 rupees, marking a notable increase of 2.46 per cent.

Looking at the entire calendar year so far, the rupee has appreciated by 2.75 rupees, or 0.98 per cent. This reflects a positive trajectory in the currency’s value.

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