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PKR rises against USD in interbank

04 February, 2025 20:30

The Pakistani rupee (PKR) saw a slight gain of 8.83 paisa, or 0.03%, against the US dollar in Tuesday’s interbank session, closing at PKR 278.96 per USD compared to the previous session’s closing of 279.04.

Throughout the day, the currency traded between a high of 279.10 (bid) and a low of 278.95 (ask).

In the open market, exchange companies quoted the dollar at PKR 279.00 for buying and PKR 281.10 for selling.

Meanwhile, the rupee weakened against several major currencies. It fell by 2.98 rupees, or 1.04%, against the Euro, closing at PKR 288.02, down from PKR 285.04.

The PKR also dropped 3.55 rupees, or 1.03%, against the British Pound, settling at PKR 346.31 from PKR 342.76 the previous day. Against the Swiss franc, the rupee declined by 2.94 rupees, or 0.97%, to close at PKR 306.43.

The PKR also saw a minor decline of 0.47 paisa, or 0.26%, against the Japanese Yen, ending the session at 1.7976 compared to 1.7929.

However, it gained 1.22 paisa, or 0.03%, against the Chinese Yuan, closing at 38.47 from 38.48. Similarly, the local currency strengthened by 2.55 paisa, or 0.03%, against the Saudi Riyal, reaching 74.37, and by 2.40 paisa, or 0.03%, against the UAE Dirham, closing at 75.95.

Year-to-date, the rupee has depreciated by 61.49 paisa, or 0.22%, against the US dollar and 40.61 paisa, or 0.15%, against the dollar in the current calendar year.

In the money market, the benchmark 6-month Karachi Interbank Bid and Offer rates increased by 2 basis points, reaching 11.50% and 11.75%, respectively.

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