Interbank closing: PKR drops by 11.2 paisa against USD

WEB DESK: The Pakistani rupee (PKR) experienced a depreciation of 11.2 paisa against the US dollar (USD) in Monday’s interbank trading session.

The local currency concluded the day at PKR 278.62 per USD, a slight decline from the previous session’s close of PKR 278.51 per USD.

During the session, the PKR saw an intraday high (bid) of 278.9 and a low (ask) of 278.65. In the open market, exchange companies quoted the dollar at PKR 277.75 for buying and PKR 280.50 for selling.

In comparison to major currencies, the British Pound became more expensive by 30.89 paisa, closing at PKR 352.60 compared to PKR 352.29 from the previous day.

The Chinese Yuan appreciated by 1.18 paisa, ending the session at PKR 38.37 against the previous value of PKR 38.36. The Euro saw a significant rise against the PKR, with an increase of 88.59 paisa, closing at PKR 298.45 compared to the previous value of PKR 297.56.

Against the Japanese Yen, the PKR gained 0.94 paisa, closing at 1.7447 versus 1.7541 a day earlier. The Swiss Franc saw a loss of 83.64 paisa, closing at PKR 311.75 compared to PKR 312.58 from the previous session.

The UAE Dirham increased in value by 2.74 paisa, from PKR 75.86 a day ago to PKR 75.83. Meanwhile, the Saudi Riyal closed at PKR 74.27, gaining 3.19 paisa from its previous value of PKR 74.24.

Throughout the current financial year, the PKR has appreciated against the US Dollar by PKR 7.37, marking a 2.64 per cent increase. Similarly, during the current calendar year, the PKR has strengthened by PKR 3.24, reflecting a 1.16 per cent increase.

Read next: Pakistan’s petroleum bill surges by 8 per cent