Exchange rates: PKR gains 12 paisa against US dollar, Rs1.5 versus British Pound

The Pakistani rupee (PKR), on first trading day of the week, registered a marginal fall against the US dollar (USD).

According to the State Bank of Pakistan (SBP), the PKR dropped 0.04 per cent or 12 paisa in the inter-bank market and closed Monday’s trading session at Rs277.64 against the USD.

The currency market now seems a little stablised after the International Monetary Fund (IMF) approved the fresh bailout programme and released the first tranche of around $1.1 billion.

Globally, the US dollar extended a rally sparked by Friday’s strong US jobs data and an escalation in the Middle East conflict.

During  the day, the PKR saw an intraday high of Rs277.75 and a low of Rs277.65.

In the open market, exchange companies were buying the greenback for Rs278.25 and selling it for Rs279.84.

This financial year, PKR has climbed by 69.89 paisa or 0.25 per cent against the USD. While the current calendar year has seen rupee gain 1.52 per cent or Rs4.22.

Here is how the PKR performed today against other major foreign currencies:

The British Pound dropped by Rs1.5, closing at Rs363.89 compared to last closing rate of Rs365.39.

PKR gained Rs1.47 against the Euro and closed at Rs304.48 as compared to the Friday’s rate of Rs305.95.

The Swiss franc dropped by Rs1.87, closing at Rs323.69.

Against the Japanese Yen, PKR gained 2.23 paisa, closing at Rs1.8727.

The Saudi Riyal closed at Rs73.92 with a gain of 4.3 paisa from its previous value of 73.88.

The Chinese Yuan gained 1.77 paisa, closing at Rs39.56 against Rs39.54 from the previous session.

The UAE Dirham gained 3.18 paisa from Rs75.59 a day ago to Rs75.55.