Interbank closing: PKR gains 8.61 paisa against USD

WEB DESK: The Pakistani rupee (PKR) maintained relative stability against the US dollar (USD) throughout March, with a slight increase of 1.16 rupees, closing the month at PKR 277.95 per USD.

In Friday’s trading session alone, the local currency strengthened by 8.61 paisa against the US dollar.

Compared to other major currencies, the PKR strengthened by 44.04 paisa against the Euro, closing at 299.56 compared to the previous rate of 300.

The British Pound saw a rise of 28.05 paisa, closing at 350.87 compared to the previous day’s 350.59.

Similarly, the Swiss franc experienced an increase of 1.44 rupees, closing at 308.28 compared to the previous session’s 306.85.

Against the Japanese yen, the PKR gained 0.02 paisa, closing at 1.8362 versus the previous day’s 1.8364.

The Chinese Yuan also saw a marginal increase of 0.6 paisa, closing at 38.48 compared to the previous session’s 38.47.

However, there were slight declines observed in some currencies. The Saudi Riyal closed at 74.11, showing a decrease of 2 paisa from its previous value of 74.13. Similarly, the U.A.E. dirham decreased by 2.65 paisa, falling from 75.69 to 75.71.

Looking at the broader picture, during the current financial year, the PKR has appreciated against the dollar by 8.04 rupees, or 2.89 per cent.

Furthermore, in the current calendar year, the PKR has appreciated by 3.91 rupees, or 1.41 per cent.