Interbank closing: PKR dips 12.89 paisa against USD

WEB DESK: In Monday’s interbank trading session, the Pakistani rupee (PKR) fell by 12.89 paisa against the US dollar (USD), ending the day at PKR 278.63 per USD.

This decline follows the previous session’s close of PKR 278.50 per USD. During the day, the rupee reached an intraday high (bid) of PKR 278.80 and a low (ask) of PKR 278.60.

Over the past week, the PKR has depreciated by more than 16 paisa against the USD. In the open market, exchange companies reported the dollar being quoted at PKR 279.21 for buying and PKR 280.41 for selling.

The PKR also weakened against several major currencies. The Swiss franc appreciated by 8.04 rupees, closing at PKR 327.63 compared to the previous rate of PKR 319.58.

Against the Euro, the rupee dropped by 4.67 rupees, ending the day at PKR 305.49 from PKR 300.82 previously.

The UAE Dirham increased by 3.31 paisa, closing at PKR 75.83, up from PKR 75.86. The Japanese Yen saw a significant drop, with the rupee falling by 7.92 paisa to close at PKR 1.9469, compared to PKR 1.8677 the previous day.

The British Pound became more expensive by 2.84 rupees, closing at PKR 356.97, up from PKR 354.13. The Saudi Riyal gained 1.86 paisa, ending the session at PKR 74.22 compared to PKR 74.21 the day before.

Lastly, the Chinese Yuan appreciated by 42.64 paisa, closing at PKR 39.02, up from PKR 38.60 in the previous session.

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