- AFP
- Today
Intraday update: PKR gains three paisa against USD
- Web Desk
- Nov 25, 2024
KARACHI: The Pakistani rupee (PKR) stayed mostly steady against the US dollar (USD) during early trading hours on Monday showing a slight rise of 0.01 per cent. In the morning, the rupee was trading at Rs277.73, up by just 3 paisa against the dollar.
Last week, the rupee saw a minor drop, slipping by 9 paisa or 0.03 per cent against the dollar.
Friday’s closing
On Friday, the rupee gained 19.99 paisa (0.07 per cent) against the dollar, ending the day at Rs277.76 compared to the previous closing of Rs277.96.
The rupee wrapped up the week at Rs277.76, slightly higher than the previous week’s closing of Rs277.67, according to the State Bank of Pakistan.
Global outlook
On the global stage, the US dollar lost some ground on Monday. This followed the appointment of Scott Bessent as US Treasury Secretary, which eased concerns in the bond market and brought down yields. The 10-year Treasury yield dropped to 4.351 per cent, down from 4.412 per cent late on Friday.
Performance against other currencies
The rupee made gains against several major currencies. It rose by Rs1.54 (0.53 per cent) against the Euro, closing at Rs291.36, and strengthened by Rs2.04 (0.58 per cent) against the British pound, finishing at Rs349.37.
Against the Swiss franc, it increased by Rs1.19 (0.38 per cent) to Rs313.57. Meanwhile, the rupee improved slightly against the Japanese yen, gaining 0.19 paisa (0.11 per cent) to close at Rs1.7940.