Exchange rates: PKR gains 10 paisa against US dollar, Rs2.35 versus Swiss Franc

The Pakistani rupee (PKR) continued its trend of minimal fluctuations, appreciating by 10.44 paisa or 0.04 per cent against the US dollar (USD) during Friday’s interbank session.

The PKR closed at 278.54 per USD, up from the previous close of 278.64 on Thursday.

In the open market, exchange companies quoted the dollar at 279.15 for buying and 280 for selling. Throughout the day, the currency reached an intraday high (bid) of 279 and a low (ask) of 278.90.

Over the week, the PKR recorded a total loss of 4 paisa against the greenback.

Here’s how Pakistani currency performed on last trading day of the week against other currecnies:

Against major currencies, the Saudi Riyal closed at 74.23, losing 2.78 paisa from the previous day’s value of 74.26. The UAE Dirham decreased by 2.85 paisa, closing at 75.86, down from 75.84.

Meanwhile, the PKR gained 79.84 paisa against the Euro, closing at 308.8 compared to the previous value of 309.6. The Swiss Franc dropped by 2.35 rupees, ending the session at 328.41, down from 330.75.

The British Pound became cheaper by 72.28 paisa, closing at 367.35 compared to 368.07 the day before. Against the Japanese Yen, the PKR gained 0.5 paisa, closing at 1.921 versus 1.926 the previous day. The Chinese Yuan saw an increase of 9.14 paisa, closing at 39.29 compared to 39.2 in the previous session.

In recent months, the domestic currency has remained in the range of 277-279, with traders closely monitoring the approval of a new $7-billion Extended Fund Facility by the International Monetary Fund’s (IMF) Executive Board.

During the current financial year, the PKR has depreciated against the dollar by 19.67 paisa or 0.07 per cent. However, the currency has appreciated by 3.32 rupees or 1.19 per cent in the current calendar year.