Intraday trading: PKR down by two paisa against USD

KARACHI: The Pakistani rupee (PKR) remained relatively stable on Thursday, registering a slight depreciation of 0.01 per cent against the US dollar (USD) in early trading within the inter-bank market.

In the morning session, the PKR was trading at 278.47 per USD, marking a minor loss of Re0.02 from its previous close.

On Wednesday, the rupee had settled at 278.45 against the dollar, according to data from the State Bank of Pakistan (SBP).

Here is how the Pakistani currency fared against other major currencies on the previous trading day:

– The Swiss franc appreciated by Rs1.91, closing at 330.25, up from 328.34 in the previous session.

– The British pound strengthened by 86.64 paisa, ending the day at 368.46 compared to 367.59 a day earlier.

– The Chinese yuan saw a modest gain of 3.12 paisa, closing at 39.06 versus 39.03 in the prior session.

– The Saudi riyal increased by 3.03 paisa, closing at 74.21, compared to 74.18 a day earlier.

– The euro weakened against the rupee, with PKR gaining 14.84 paisa to close at 310.72, down from 310.87.

– The UAE dirham edged up by 3.51 paisa, ending the day at 75.78, up from 75.81 in the previous session.

– The Japanese yen gained 0.64 paisa against the rupee, closing at 1.9261 compared to 1.9197 a day earlier.

The Pakistani rupee has remained within the 277-279 range in recent months as market participants closely monitor developments related to the International Monetary Fund’s (IMF) approval of a new $7-billion Extended Fund Facility.

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