PKR gains slightly against US dollar in early trading

KARACHI: The Pakistani rupee (PKR) showed a slight improvement against the US dollar (USD) on Wednesday, appreciating by 0.04 per cent in the interbank market during the early hours of trading.

In the morning, the local currency was trading at Rs278.72, reflecting a one paisa increase against the greenback. On Tuesday, during the previous trading session, the PKR had depreciated by 16.32 paisa, or 0.06 per cent, to settle at Rs278.82 per USD, compared to Monday’s closing rate of Rs278.65.

In the open market, most currency exchange companies quoted the dollar between Rs279.50 and Rs280.00 for buying, and Rs281.30 to Rs281.50 for selling.

On the previous trading day, the local currency’s performance against other major currencies was as follows:

The PKR dropped by Rs1.50, or 0.44 per cent, against the British Pound to close at Rs341.54, compared to Rs340.04 the previous day.

It weakened by Rs1.51, or 0.49 per cent, against the Swiss franc, closing at Rs306.71.

The PKR fell by Rs1.67, or 0.58 per cent, against the Euro, finishing at Rs289.01, down from Rs287.33.

Against the Saudi Riyal, the PKR depreciated by 4.15 paisa, or 0.06 per cent, to settle at Rs74.31.

Against the Chinese Yuan, the PKR lost 21.87 paisa, or 0.57 per cent, to close at Rs38.30, compared to Rs38.08.

The PKR also fell by 4.44 paisa, or 0.06 per cent, against the UAE Dirham, ending at Rs75.91.

The rupee’s value against the Japanese Yen decreased by 0.54 paisa, or 0.30 per cent, to close at Rs1.7899, down from Rs1.7845.

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