Interbank closing: PKR gains 9.39 paisa against USD

WEB DESK: In Thursday’s interbank trading session, the Pakistani rupee (PKR) exhibited a notable appreciation of 9.39 paisa against the US dollar (USD), closing at PKR 278.41 compared to yesterday’s closing rate of PKR 278.5 per USD.

During the trading day, the PKR reached an intraday high bid of 278.50 and a low ask of 278.25. Meanwhile, in the open market, exchange companies quoted the buying rate of the dollar at PKR 279.05 and the selling rate at PKR 280.5.

In other currency movements, the Saudi Riyal closed at PKR 74.21, reflecting a decrease of 3.1 paisa from its previous value of PKR 74.24. Similarly, the U.A.E Dirham depreciated by 2.56 paisa, settling at PKR 75.82 compared to PKR 75.8 a day ago.

Conversely, the Pakistani rupee experienced losses against the Euro, closing at PKR 302.01 which is 45.51 paisa lower than yesterday’s rate of PKR 301.56.

On the other hand, the Swiss Franc saw gains, closing at PKR 316.12 after an increase of 3.41 rupees from the previous session’s PKR 312.71.

The British Pound strengthened by 24.09 paisa, ending the day at PKR 359.06 compared to PKR 358.82 yesterday. Similarly, the Chinese Yuan appreciated by 25.24 paisa, closing at PKR 38.53 versus PKR 38.28 previously.

Against the Japanese Yen, however, the PKR weakened by 2.67 paisa, settling at 1.8281 from yesterday’s rate of 1.8014.

These currency fluctuations highlight the dynamic nature of Pakistan’s foreign exchange market, influenced by both local and global economic factors.

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