Interbank closing: PKR gains 10 paisa against USD

WEB DESK: In today’s interbank trading, the Pakistani rupee (PKR) showed resilience against the US dollar (USD), gaining 10.12 paisa.

The day concluded with the currency trading at PKR 277.84 per USD, a slight improvement from its previous close of PKR 277.94 per USD.

Throughout the trading session, the PKR experienced fluctuations, reaching an intraday high (bid) of 278.1 and a low (ask) of 277.85.

Meanwhile, in the open market, exchange companies quoted the dollar at 277.75 for buying and 277.9 for selling.

This uptrend in the value of the PKR marks a significant achievement, as it extends its winning streak against the USD for the fourth consecutive month.

March alone witnessed a decline in the USDPKR exchange rate to 277.95, which is 1.16 rupees, or 0.42 per cent, lower than the February closing rate of 279.11.

In comparison to other major currencies, the PKR demonstrated mixed results. Against the euro, it gained 1.33 rupees, closing at 298.42 compared to the previous rate of 299.75.

The British Pound saw a decrease of 1.98 rupees, closing at 348.77 compared to the previous day’s 350.74.

Similarly, the Swiss Franc experienced a loss of 2.34 rupees, closing at 306.07 compared to the previous session’s 308.41.

Against the Japanese yen, the PKR gained 0.47 paisa, closing at 1.8315 versus 1.8362 a day ago.

However, the Chinese Yuan saw a slight decline of 4.19 paisa, closing at 38.4 against 38.44 from the previous session.

The Saudi Riyal closed at 74.07 with a loss of 3.29 paisa from its previous value of 74.11, while the U.A.E. dirham decreased by 3.28 paisa from 75.65 to 75.68.

Notably, during the current financial year, the PKR has appreciated against the dollar by 8.16 rupees, or 2.94 per cent. Meanwhile, in the current calendar year, it has seen a rise of 4.03 rupees, or 1.45 per cent.