Interbank closing: PKR gains 6.79 paisa against USD

WEB DESK: The Pakistani rupee (PKR) appreciated slightly by 6.79 paisa against the US dollar (USD) in Tuesday’s interbank trading session, closing at PKR 278.3 per USD, compared to the previous session’s closing of PKR 278.36 per USD.

During the session, the rupee reached an intraday high (bid) of PKR 278.55 and a low (ask) of PKR 278.35. In the open market, exchange companies quoted the dollar at PKR 277.18 for buying and PKR 279.54 for selling.

While the rupee did not register significant gains, it managed to maintain stability against the dollar for another month, reflecting steady economic conditions.

On Tuesday, the British pound became more expensive by PKR 1.75, closing at PKR 355.61, up from PKR 353.86 the previous day. The rupee lost PKR 1.16 against the euro, ending at PKR 302.84 compared to PKR 301.68 previously.

The Swiss franc saw an increase of PKR 2.46, closing at PKR 310.89, up from PKR 308.44. The U.A.E dirham decreased marginally by 1.44 paisa, settling at PKR 75.78 compared to PKR 75.77.

Against the Japanese yen, the rupee lost 1.99 paisa, closing at PKR 1.7916 versus PKR 1.7717 the day before. The Saudi riyal closed at PKR 74.2, reflecting a loss of 1.42 paisa from its previous value of PKR 74.21.

The Chinese yuan gained 0.25 paisa, closing at PKR 38.42 against PKR 38.41 from the previous session.

Overall, the rupee ended May at PKR 278.33 per USD, showing a minor drop of 1 paisa compared to the previous month’s closing rate of PKR 278.31 per USD.

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