The Pakistani Rupee (PKR) saw a slight decline of 0.90 paisa against the US dollar in Tuesday’s interbank session, closing at PKR 279.67 per USD. This marks its weakest level in a year, with the currency depreciating 0.77% from its strongest point of PKR 277.52 per USD on October 4, 2024.
During the session, the PKR traded at an intraday high (bid) and low (ask) of 279.70. In the open market, exchange companies quoted the dollar at 279.5 for buying and 281.5 for selling.
Performance Against Other Major Currencies
- Euro: PKR gained 29.82 paisa (0.10%) to close at 292.87.
- British Pound: PKR appreciated by 46.40 paisa (0.13%) to 353.06.
- Swiss Franc: PKR fell by 7.96 paisa (0.03%) to 311.84.
- Japanese Yen: PKR strengthened by 0.34 paisa (0.18%) to 1.8684.
- Chinese Yuan: PKR gained 9.25 paisa (0.24%) to 38.50.
- Saudi Riyal: PKR declined by 0.63 paisa (0.01%) to 74.58.
- UAE Dirham: PKR dropped by 0.66 paisa (0.01%) to 76.15.
Fiscal and Calendar Year Performance
So far in the current fiscal year, the PKR has depreciated by 1.33 rupees (0.48%) against the USD. Year-to-date, it has weakened by 1.12 rupees (0.40%).
Money Market Update
The benchmark 6-month Karachi Interbank Bid and Offer rates edged down by 1bps to 11.60% and 11.85%, respectively.
