Interbank closing: PKR sheds 3.73 paisa against USD

WEB DESK: On the first trading day of the week, the Pakistani rupee (PKR) depreciated slightly against the US dollar (USD).

During Monday’s interbank session, the currency settled at PKR 278.36 per USD, marking a minor drop of 3.73 paisa from the previous session’s closing rate of PKR 278.33 per USD.

Throughout the session, the rupee experienced an intraday high bid of 278.6 and a low ask of 278.4. In the open market, exchange companies quoted the dollar at PKR 277.25 for buying and PKR 280 for selling.

At the close of May, the rupee stood at PKR 278.33 per USD, reflecting a minimal decline of 1 paisa from the previous month’s closing rate of PKR 278.31 per USD.

PKR’s performance against other major currencies

British Pound (GBP): The rupee depreciated by 22.83 paisa, closing at PKR 353.86 compared to the previous session’s PKR 353.63.

Euro (EUR): The rupee lost 44.4 paisa, closing at PKR 301.68 from the previous rate of PKR 301.23.

Swiss Franc (CHF): The rupee appreciated by 85.93 paisa, ending the session at PKR 308.44 compared to PKR 307.58.

Chinese Yuan (CNY): The rupee saw a slight depreciation of 1.73 paisa, closing at PKR 38.41 against the previous session’s PKR 38.43.

Japanese Yen (JPY): The rupee declined marginally by 0.06 paisa, closing at PKR 1.7717 compared to PKR 1.7711.

U.A.E. Dirham (AED): The rupee appreciated by 0.91 paisa, closing at PKR 75.78 from the previous rate of PKR 75.78.

Saudi Riyal (SAR): The rupee closed at PKR 74.21, gaining 0.8 paisa from the previous session’s rate of PKR 74.21.

The overall minor fluctuations in the rupee’s value against major currencies reflect ongoing economic challenges and market volatility.

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