Intraday trading: PKR edges down by a few paisa against USD

KARACHI: The Pakistani rupee (PKR) remained relatively stable on Thursday, depreciating marginally by 0.01 per cent against the US dollar (USD) during the early hours of inter-bank trading.

In the morning, the rupee was trading at 278.55, reflecting a minor decline of Re0.03 compared to its previous close.

On Wednesday, the PKR had settled at 278.52 against the dollar, according to data from the State Bank of Pakistan (SBP). During the session, the rupee weakened by 18.2 paisa or 0.07 per cent, closing at 278.52 per USD, down from Tuesday’s closing rate of 278.34.

The PKR’s performance on the previous trading day against other major currencies was as follows:

Euro to PKR: PKR fell by Rs1.20 against the Euro, closing at 309.59 compared to the previous day’s 308.39.

Saudi Riyal to PKR: The Saudi Riyal gained 4.46 paisa, closing at 74.23 from its previous value of 74.19.

UAE Dirham to PKR: The UAE Dirham rose by 4.95 paisa to 75.78, up from 75.83 a day earlier.

British Pound to PKR: The British Pound appreciated by 76.58 paisa, finishing at 362.60 compared to 361.83 on the previous day.

Swiss Franc to PKR: The Swiss Franc gained Rs1.65, closing at 325.44 from 323.79 the day before.

Chinese Yuan to PKR: The Chinese Yuan appreciated by 6.7 paisa, closing at 39.03 from 38.96.

Japanese Yen to PKR: The Japanese Yen saw a minor loss of 0.86 paisa, ending at 1.9063 compared to 1.8977.

In recent months, the PKR has largely traded within the 277-279 range against the US dollar, with market participants closely monitoring favourable economic indicators.

Since the beginning of the current financial year, the rupee has depreciated by 18.31 paisa or 0.07 per cent against the dollar. However, on a calendar year basis, the PKR has appreciated by Rs3.34 or 1.2 per cent.

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