Interbank closing: PKR ends day in green

WEB DESK: The Pakistani rupee (PKR) gained ground against the US dollar (USD) in Thursday’s interbank trading session, settling at PKR 278.4 per USD, a slight improvement from the previous closing rate of PKR 278.41 per USD.

Throughout the day, the rupee reached a peak of 278.65 and a low of 278.45 against the dollar. In the open market, exchange companies quoted buying and selling rates for the dollar at 278.48 and 281.12 respectively.

Compared to other major currencies, the PKR experienced fluctuations. Against the Euro, it depreciated by 1.84 rupees, ending at 304.19 compared to the previous rate of 302.35.

Similarly, the British Pound and the Swiss Franc appreciated by 2.08 and 1.36 rupees respectively, closing at 355.89 and 314.22 compared to the previous sessions.

However, the PKR weakened slightly against the Japanese Yen and the Chinese Yuan, losing 0.31 paisa and 0.19 paisa respectively. The Saudi Riyal and the U.A.E Dirham also saw minor declines in value.

Despite these fluctuations, the Pakistani rupee has shown overall strength against the US dollar, appreciating by 7.6 rupees or 2.73 per cent in the current financial year and by 3.47 rupees or 1.24 per cent in the current calendar year.