Intraday trade: PKR gains 7 paisa against USD

KARACHI: The Pakistani rupee (PKR) rose by 7 paisa against the US dollar (USD) on the second trading day of the week, during early interbank trading on Tuesday. According to currency exchange companies, the dollar was quoted at Rs179.60 around 9:20 AM.

It is worth noting that banks in Pakistan were closed on 3rd March for public dealing, and the State Bank of Pakistan (SBP) did not release interbank closing rates.

So far this fiscal year, the PKR has decreased against the US dollar by Rs1.33 or 0.47 per cent. In the current calendar year, it has depreciated by Rs1.12 or 0.40 per cent.

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Here’s how the PKR performed against the USD and other major foreign currencies during the previous trading session:

The PKR strengthened by 5.40 paisa or 0.02 per cent against the USD, settling at Rs279.67 per USD, compared to the previous closing of Rs279.72.

The local currency gained 1.04 paisa or 0.01 per cent against the Saudi Riyal, closing at Rs74.57.

In the open market, exchange companies quoted the dollar at Rs279 for buying and Rs281.50 for selling.

Against the British Pound, the PKR rose by Rs2.26 or 0.64 per cent to Rs352.17, compared to Rs354.44 a day earlier.

The PKR increased by 1.37 paisa or 0.02 per cent against the UAE Dirham, closing at Rs76.15.

The local currency appreciated by Rs1.51 or 0.49 per cent against the Swiss Franc, closing at Rs310.40.

It strengthened by Rs2.06 or 0.70 per cent against the Euro, closing at Rs290.87 compared to Rs292.93 the previous day.

Against the Japanese Yen, the PKR increased by 1.57 paisa or 0.84 per cent to close at Rs1.8591, compared to Rs1.8748 a day earlier.

The PKR also rose by 9.14 paisa or 0.24 per cent against the Chinese Yuan, closing at Rs38.40 from Rs38.49.

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