Intraday trade: PKR gains 29 paisa against USD

KARACHI: The Pakistani rupee (PKR) strengthened against the US dollar (USD), appreciating by 0.1 per cent in the interbank market during early trading on Thursday.

Before 12:00 PM, the rupee was trading at Rs278.56, marking a gain of 29 paisa against the dollar.

Since the start of the fiscal year, the PKR has depreciated by 51.15 paisa, or 0.18 per cent, against the USD. So far this calendar year, it has fallen by 30.27 paisa, or 0.11 per cent.

On Wednesday, the rupee fell by 3.72 paisa, or 0.01 per cent, closing at Rs278.85 per USD in the inter-bank market, compared to the previous day’s close of Rs278.82.

In the open market, exchange companies quoted the dollar at Rs280-279.50 for buying and Rs281.30-Rs281.50 for selling.

Here’s how the Pakistani rupee performed against other major currencies in the previous trading session:

Japanese Yen: The PKR rose by 0.29 paisa, or 0.16 per cent, to close at Rs1.7870, up from Rs1.7899.

Saudi Riyal: The rupee dropped by 1.59 paisa, or 0.02 per cent, to Rs74.33.

UAE Dirham: It weakened by 0.81 paisa, or 0.01 per cent, to Rs75.92.

Swiss Franc: The local unit decreased by 83.60 paisa, or 0.27 per cent, closing at Rs307.55.

Chinese Yuan: The rupee appreciated by 1.62 paisa, or 0.04 per cent, to Rs38.29, compared to Rs38.30.

Euro: The PKR weakened by Rs1.29, or 0.45 per cent, closing at Rs290.30, down from Rs289.01.

British Pound: The rupee fell by Rs1.94, or 0.57 per cent, to close at Rs343.48, compared to Rs341.54.

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