Interbank closing: PKR gains 1.09 paisa against USD

WEB DESK: In Tuesday’s interbank trading session, the Pakistani rupee (PKR) made gains against the US dollar (USD), appreciating by 1.09 paisa to settle at PKR 278.18 per USD.

This marks a slight improvement from the previous session’s closing rate of PKR 278.2 per USD.

Throughout the day, the PKR experienced fluctuations, reaching an intraday high (bid) of 278.35 and a low (ask) of 278.15.

Meanwhile, in the open market, exchange companies set the buying rate for the dollar at PKR 277.01 and the selling rate at PKR 279.55.

Looking at the broader picture, during the current financial year, the PKR has strengthened against the US dollar by 7.81 rupees or 2.81 per cent.

Similarly, in the current calendar year, the PKR has appreciated by 3.68 rupees or 1.32 per cent.

In comparison to other major currencies, the PKR experienced mixed results on Tuesday.

Against the Euro, it depreciated by 15.51 paisa, closing at 299.94 compared to the previous day’s value of 299.78. However, against the Japanese Yen, it gained 0.69 paisa, closing at 1.7777 versus 1.7846 a day ago.

The Chinese Yuan saw a marginal decrease of 1.48 paisa, closing at 38.44 compared to 38.45 from the previous session.

The British Pound, on the other hand, became more expensive by 11.15 paisa, closing at 348.55 compared to 348.44 the day before.

Similarly, the Swiss franc experienced losses, closing at 306.24 with a decrease of 56.93 paisa from the previous session’s value of 306.8.

In terms of other regional currencies, the U.A.E Dirham decreased slightly in value by 0.4 paisa, settling at 75.74 compared to the previous day’s rate.

The Saudi Riyal closed at 74.17, showing a minimal loss of 0.3 paisa from its value of 74.18 a day earlier.

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