PKR strengthens 9 paisa against US dollar, weakens 71 paisa versus British Pound

The Pakistani rupee (PKR) saw a marginal gain against the US dollar (USD) in the inter-bank market on Thursday, appreciating by 0.03 per cent.

By the close of the trading day, the rupee settled at 278.68, marking an increase of Re0.09 compared to Wednesday’s closing value of 278.77, according to data from the State Bank of Pakistan (SBP).

Here is a comparison of the last two closing rates, detailing PKR’s performance against various currencies aside from the US dollar. Below are the closing rates for Thursday and Wednesday, highlighting the changes in value:

In terms of other currencies, the Saudi Riyal experienced a slight decline, closing at 74.24 after losing 3.63 paisa from its previous value of 74.27. Similarly, the UAE Dirham depreciated by 2.5 paisa, ending the day at 75.90 compared to 75.87 on Wednesday.

Meanwhile, the rupee weakened against the Euro, losing 87.39 paisa to close at 308.95, compared to 308.08 in the previous session. The British Pound also saw a rise, becoming 71.57 paisa more expensive, closing at 366.39 from the previous day’s 365.67.

The Swiss Franc appreciated by 74.5 paisa, closing at 329.15, up from 328.41. In contrast, the Japanese Yen saw the rupee weaken by 1.93 paisa, ending the day at 1.9402 compared to 1.9209.

The Chinese Yuan strengthened against the PKR, gaining 5.58 paisa and closing at 39.25, up from 39.19.

In recent months, the Pakistani rupee has fluctuated between 277 and 279, with traders closely monitoring developments related to the International Monetary Fund’s (IMF) Executive Board decision on the $7-billion Extended Fund Facility (EFF).

For the current financial year, the rupee has depreciated by 33.38 paisa or 0.12 per cent against the dollar. However, in the calendar year so far, it has appreciated by Rs3.19, or 1.14 per cent