Intraday trade: Pakistani rupee rises 27 paisa against US dollar

KARACHI: The Pakistani rupee (PKR) made slight gains against the US dollar (USD) during early trading hours on Friday, rising by 0.1 per cent. The local currency was trading at Rs277.52 in the interbank market, marking an increase of Re0.27 compared to the previous session.

So far in the current fiscal year, the PKR has appreciated by 54.89 paisa, or 0.20 per cent, against the dollar. For the calendar year, it has strengthened by Rs4.07, or 1.46 per cent.

PKR’s performance against foreign currencies on Thursday

On Thursday, the PKR also posted modest gains, rising by 5 paisa, or 0.02 per cent, to close at Rs277.79 against the USD, compared to Wednesday’s rate of Rs277.84.

The rupee’s performance against other major currencies also saw improvement on Thursday.

It gained 80.44 paisa (0.27 per cent) against the Euro, closing at Rs301.53, and rose by 3.69 paisa (0.05 per cent) against the Saudi Riyal, settling at Rs73.97. Against the British Pound, the PKR appreciated by 25.95 paisa (0.07 per cent) to Rs360.84.

The currency also recorded a slight uptick of 0.44 paisa (0.24 per cent) against the Japanese Yen, closing at Rs1.8549. Additionally, it strengthened by 1.36 paisa (0.02 per cent) against the UAE Dirham, finishing the session at Rs75.63.

The PKR showed stronger gains against the Swiss Franc, rising by 96.94 paisa (0.30 per cent) to Rs321.02, and appreciated by 5.85 paisa (0.15 per cent) against the Chinese Yuan, closing at Rs38.97.

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