Interbank closing: PKR gains 4.87 paisa against USD

WEB DESK: In Thursday’s interbank market, the Pakistani rupee (PKR) strengthened by 4.87 paisa, or 0.02 per cent, closing at PKR 278.69 per US dollar (USD).

This marks a slight improvement from the previous day’s closing rate of PKR 278.73. Throughout the trading session, the rupee reached a high of 278.85 and a low of 278.65.

In the open market, the USD was quoted at PKR 279 for buying and PKR 280.4 for selling.

Comparatively, the rupee experienced varied movements against other major currencies. The Swiss franc fell by 1.1 rupees, ending the day at PKR 324.49 compared to PKR 325.59 previously.

The British pound increased by 14.71 paisa, closing at PKR 353.94, up from PKR 353.80. Conversely, the rupee depreciated by 43.45 paisa against the euro, closing at PKR 304.85, down from PKR 304.42.

The Saudi riyal gained 0.68 paisa, ending at PKR 74.25, while the UAE dirham lost 1.33 paisa, closing at PKR 75.89 from PKR 75.87.

The Chinese yuan appreciated by 12.13 paisa, reaching PKR 38.92 compared to PKR 38.80 previously. However, the rupee fell by 1 paisa against the Japanese yen, closing at PKR 1.9104 from PKR 1.9004.

So far this financial year, the local unit has depreciated by 34.42 paisa, or 0.12 per cent, against the greenback. In contrast, it has appreciated by 3.18 rupees, or 1.14 per cent, against the dollar in the current calendar year.

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