Pakistani rupee stable against US dollar in early trading

KARACHI: On Monday morning, the Pakistani rupee (PKR) held steady against the US dollar (USD) in the inter-bank market. By 10am, the exchange rate was reported at PKR 278.55 per USD.

In recent months, the rupee has fluctuated between PKR 277 and PKR 279 against the dollar, as traders anticipate positive economic indicators.

On the last trading day, the PKR appreciated by 13.54 paisa, or 0.05 per cent, to settle at PKR 278.55 per USD, up from the previous closing rate of PKR 278.69. During the day, the rupee reached an intraday high of 278.95 and a low of 278.75.

The PKR experienced mixed performance against other major currencies on August 9 (Friday):

Euro to PKR: The PKR gained 63.55 paisa on Friday, closing at PKR 304.22, compared to PKR 304.85 the previous day.

British Pound to PKR: The rupee weakened by 1.56 rupees, ending at PKR 355.50, up from PKR 353.00 on Thursday.

UAE Dirham to PKR: The PKR depreciated by 3.68 paisa, closing at PKR 75.87 from PKR 75.84 a day earlier.

Japanese Yen to PKR: The rupee gained 1.81 paisa, closing at PKR 1.8923, compared to PKR 1.9104 previously.

Swiss Franc to PKR: The PKR fell by 2.78 rupees, ending at PKR 321.71, down from PKR 324.49.

Saudi Riyal to PKR: The rupee declined by 3.22 paisa, closing at PKR 74.22, compared to PKR 74.25 the day before.

Chinese Yuan to PKR: The PKR lost 9.05 paisa, closing at PKR 38.83, down from PKR 38.92.

In the open market, exchange companies quoted the dollar at PKR 279.24 for buying and PKR 280.40 for selling on Friday.

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