PKR holds steady against USD

The Pakistani rupee (PKR) increased by 1.17 paisa against the US dollar in Monday’s interbank session to settle the trade at PKR 279.85 per USD, compared to previous closing of 279.86.

Throughout the day, the currency saw an intraday high (bid) of 280.3 and a low (ask) of 280.9.

In the open market, exchange companies quoted the dollar at 280.70 for buying and 280.10 for selling.

In comparison to major currencies, PKR weakened 3.16 rupees or 0.96% against the Euro, closing at 331.47 compared to the previous value of 328.31.

Against the British Pound, PKR fell by 4.60 rupees or 1.22% to 382.08 compared to 377.48 a day ago.

The local unit fell 5.51 rupees or 1.56% against Swiss franc to close at 359.45.

Against the Japanese Yen, PKR’s value fell 4.60 paisa or 2.60% to close the session at 1.8145 versus 1.7685 a day ago.

Pakistani Rupee fell 3.99 paisa or 0.10% against Chinese Yuan to close at 40.22 from 40.18.

The local currency gained by 0.11 paisa  against Saudi Riyal to 74.63. While it strengthened by 0.42 paisa or 0.01% against the U.A.E Dirham to close at 76.19.

During the current fiscal year, PKR has rose against the US Dollar by 3.91 rupees or 1.40%. While it has increased 27.12 paisa or 0.10% so far this calendar year.In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched down by 3bps to 9.93% and 10.18%.