Interbank closing: PKR gains 10.24 paisa against USD

WEB DESK: The Pakistani rupee (PKR) gained 10.24 paisa against the US dollar (USD) during Tuesday’s interbank trading session, closing at PKR 278.4 per USD. This marks an improvement from the previous session’s closing rate of PKR 278.5 per USD.

Throughout the session, the rupee experienced fluctuations, with an intraday high (bid) of 278.6 and a low (ask) of 278.4. In the open market, exchange companies quoted the dollar at PKR 278.50 for buying and PKR 280.50 for selling.

PKR versus other currencies

In comparison to other major currencies, the Pakistani rupee also showed mixed performance:

– The British Pound became cheaper by 47.91 paisa, closing at PKR 356.39 compared to PKR 356.87 from the previous day.

– The Swiss franc saw a loss of PKR 1.38, closing at PKR 309.83 compared to PKR 311.21 in the prior session.

– The Euro depreciated by 58.42 paisa, with the rupee closing at PKR 301.17 compared to PKR 301.76 previously.

– The UAE Dirham decreased slightly by 2.68 paisa, closing at PKR 75.82 compared to PKR 75.80 a day earlier.

– The Chinese Yuan saw a minor loss of 2.57 paisa, closing at PKR 38.28 compared to PKR 38.31 in the previous session.

– The Saudi Riyal closed at PKR 74.22, down by 2.73 paisa from its previous value of PKR 74.25.

– The Japanese Yen saw a marginal gain of 0.06 paisa, closing at PKR 1.7301 versus PKR 1.7307 a day earlier.

This varied performance of the rupee against major currencies reflects the dynamic nature of the foreign exchange market, influenced by a range of economic factors both domestically and internationally.

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