Intraday trading: PKR declines eight paisa against USD

KARACHI: The Pakistani rupee (PKR) dropped slightly against the US dollar (USD), falling by 0.03 per cent during the start of trading in the inter-bank market on Monday.

In the morning, the Pakistani currency was quoted at 278.65, which means it lost Re0.08 compared to the US dollar.

PKR’s last week performance against other currencies

Last week, the rupee also dropped a bit, losing Re0.03 or 0.01 per cent against the US dollar. By the end of the week, the rupee closed at 278.57, just slightly lower than 278.54 from the previous week, as reported by the State Bank of Pakistan (SBP).

On Friday, compared to other major currencies, the rupee lost 63.15 paisa against the Euro, closing at 309.58, down from 308.95. The British Pound got more expensive, with the rupee losing 80.4 paisa, closing at 367.19 compared to 366.39 the day before.

The Swiss franc gained 1.67 rupees, closing at 330.82, up from 329.15 the previous session. Against the Japanese Yen, the rupee lost 1.47 paisa, closing at 1.9549 versus 1.9402 the day before.

The Chinese Yuan strengthened by 6.91 paisa, closing at 39.32 compared to 39.25 earlier. The Saudi Riyal closed at 74.21, losing 2.9 paisa from its previous value of 74.24. The UAE Dirham also decreased by 3.17 paisa, closing at 75.87 from 75.84.

In the current financial year, the rupee has dropped by 22.5 paisa or 0.08 per cent against the US dollar. However, in the current calendar year, the rupee has gained 3.29 rupees or 1.18 per cent.

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