Interbank closing: PKR loses 17.01 paisa against USD

WEB DESK: In Monday’s interbank session, the Pakistani rupee (PKR) depreciated by 17.01 paisa against the US dollar (USD), closing at PKR 278.37 per USD.

This marks a decline from the previous session’s closing of PKR 278.2 per USD. During the session, the rupee hit an intraday high (bid) of 278.5 and a low (ask) of 278.25.

In the open market, exchange companies quoted the dollar at PKR 277.75 for buying and PKR 280.50 for selling.

The rupee’s performance against other major currencies was mixed. The British Pound (GBP) became cheaper by PKR 2, closing at PKR 354.05 compared to PKR 356.04 the previous day.

Similarly, the Swiss franc (CHF) saw a loss of PKR 2.35, ending the session at PKR 310.32 from PKR 312.67.

Conversely, the PKR gained 3.43 rupees against the Euro (EUR), closing at PKR 299.53 compared to the previous session’s value of PKR 302.96.

Against the Japanese Yen (JPY), the rupee appreciated by 1.64 paisa, finishing at 1.7728 versus 1.7892 a day earlier.

The Chinese Yuan (CNY) remained stable, closing at PKR 38.41, unchanged from the previous session. The U.A.E. Dirham (AED) saw a slight increase in value, rising by 4.63 paisa from PKR 75.79 to PKR 75.74.

Similarly, the Saudi Riyal (SAR) appreciated by 5.13 paisa, closing at PKR 74.23 from its previous value of PKR 74.18.

Overall, the rupee faced a challenging day against the US dollar but showed resilience and gains against several other major currencies, reflecting the volatile nature of the foreign exchange market.

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