Exchange rate today: PKR slips against US dollar

The Pakistani rupee slipped slightly in early interbank trading on Monday, November 10, with the US dollar falling by 2 paisa, according to the exchange companies association. The local currency was hovering around Rs280.80 in early intraday trade.

During the current fiscal year, the rupee has gained 2.94 rupees, or 1.05 percent, against the US dollar. However, it has lost 2.27 rupees, or 0.81 percent, since the start of the calendar year.

NBP releases daily forex rates

The treasury management division of the National Bank of Pakistan (NBP) issued its latest foreign exchange rates for Monday, offering a benchmark for trading activity. These rates provide a snapshot of prevailing market values and help businesses and individuals make informed financial decisions.

Under the ready transaction rates, the US dollar was quoted at Rs280.65 for buying and Rs281.15 for selling. The Euro stood at Rs324.42/325.00, while the British Pound was listed at Rs369.11/369.77.

Other major currencies included the Japanese Yen at Rs1.8238/1.8270, the Swiss franc at Rs348.16/348.78, and the Chinese Yuan at Rs39.80/39.87.

Regional currencies were recorded as Saudi Riyal Rs74.84/74.97 and UAE Dirham Rs76.94/77.08. The update also included rates for the Canadian dollar, Australian dollar, New Zealand dollar, Singapore dollar, and Kuwaiti dinar.

The NBP also shared conversion rates for frozen foreign currency deposits, effective for settlement on Thursday, November 13. Under these rates, the US dollar was set at Rs280.7956, the British Pound at Rs368.4319, the Euro at Rs323.982, and the Japanese Yen at Rs1.83.

These routine updates by the NBP play a key role in maintaining transparency in the foreign exchange market and assisting market participants in planning transactions efficiently.

PKR’s performance in the previous session

In the previous session, the Pakistani rupee appreciated by 3.11 paisa against the US dollar, settling at Rs280.82 in the interbank market, compared to Rs280.85 at the prior close. In the open market, exchange companies quoted the dollar at Rs281.00 for buying and Rs281.90 for selling.

Against other major currencies, the rupee showed mixed performance. PKR gained 0.84 paisa against the UAE Dirham to close at Rs76.46 and strengthened by 1.23 paisa against the Saudi Riyal to Rs74.87. However, it weakened against the British Pound, falling 1.63 rupees to Rs368.57, and dropped 34.85 paisa against the Swiss franc to Rs347.64.

The rupee also edged lower against the Euro, losing 66.63 paisa to settle at Rs324.03, and slipped 0.34 paisa against the Japanese Yen to close at Rs1.8303. Against the Chinese Yuan, PKR recorded a slight increase of 0.36 paisa, closing at Rs39.43.