Tag: Exchange rates

  • Pakistani rupee closes at Rs277.64 against US dollar, Rs362.79 versus Pound

    Pakistani rupee closes at Rs277.64 against US dollar, Rs362.79 versus Pound

    The Pakistani rupee dropped more than two paisa or 0.01 per cent against the US dollar (USD) in Monday’s interbank session to settle the trade at PKR 277.66 per USD, compared to previous closing of Rs277.64.

    During the day, the Pakistani currency saw an intraday high of Rs277.75 and low of Rs277.50.

    US dollar to Pakistani rupee exchange rate today

    Speaking of the open market, local exchange companies quoted greenback value at Rs278 for buying and Rs279.5 for selling.

    During the ongoing fiscal year, PKR appreciated against the USD by 68.06 paisa or 0.25 per cent. While the current calendar year has seen PKR appreciate by Rs4.2 or somewhat around 1.5 per cent.

    In comparison to major foreign currencies, the home unit gained 47.48 paisa against the Euro, closing at 303.47 compared to the previous value of 303.94 on the last trading day (Friday).

    Dirham in PKR: The UAE Dirham surged in value by 0.41 paisa from 75.59 a day ago to 75.59.

    Pound in PKR: The British Pound was seen in red as it became cheaper by 26.18 paisa closing at 362.79 compared to 363.05 from a day ago.

    Franc in PKR: The Swiss franc saw losses of 93.52 paisa, closing at 323.12 compared to 324.06 from the previous session.

    Yen in PKR: Against the Japanese Yen, PKR gained 0.6 paisa, closing at 1.8589 versus 1.8649 a day ago.

    Yuan in PKR: The Chinese Yuan lost 6.62 paisa, closing at 39.22 against 39.28 from the previous session.

    Saudi Riyal in PKR: Lastly, the Saudi currency ended at 73.94 with gaining 0.41 paisa in its previous value of 73.94.

  • Exchange rates: PKR drops over two paisa against US dollar

    Exchange rates: PKR drops over two paisa against US dollar

    The Pakistani rupee (PKR), on second trading day of the week, dropped by 2.78 paisa against the US dollar (USD) in Tuesday’s interbank session to settle the trade at Rs277.67 against the greenback.

    Today’s closing takes PKR 0.01 per cent higher compared to Monday’s closing rate of Rs277.64.

    PKR, during the trading session, saw an intraday high of Rs277.80 and a low of Rs277.70 per dollar.

    Exchange companies were buying the American dollar for Rs278.3 and selling it at Rs279.69.

    It is worth mentioning that, in the current financial year, Pakistani currency has gained against the US dollar about 67.11 paisa or 0.24 per cent. The current calendar year has witnessed rupee rise by Rs4.19 or 1.51 per cent.

    Here’s a comparison of the closing rates for today and those from the previous session:

    Currency Change Today’s closing Previous rate
    Euro 72.47 paisa 305.20 304.48
    British Pound 40.78 paisa 363.48 363.89
    Swiss Franc Rs1.43 325.12 323.69
    Japanese Yen 0.8 paisa 1.8807 1.8727
    UAE Dirham 1.17 paisa 75.59 75.60
    Chinese Yuan 17.39 paisa 39.38 39.56
    Saudi Riyal 2.51 paisa 73.94 73.92
    Exchange rates for today

    As compared to other foreign currencies, PKR lost 72.47 paisa against the Euro, closing at Rs305.2 compared to the Monday’s rate of Rs304.48.

    The British Pound became cheaper by 40.78 paisa closing at Rs363.48 compared to Rs363.89 from a day ago.

    The Swiss franc saw a gain of Rs1.43, closing at Rs325.12 compared to 323.69 from the previous session.

    Against the Japanese Yen, PKR lost 0.8 paisa, closing at Rs1.8807.

    The UAE Dirham increased by 1.17 paisa from Rs75.6 a day ago to Rs75.59.

    The Chinese Yuan lost 17.39 paisa, closing at Rs39.38.

    Lastly, the Saudi Riyal closed at Rs73.94 with a gain of 2.51 paisa from its value of Rs73.92 a day ago.

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

    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:

    Currency Difference Today’s rate Previous rate
    British Pound 1.5 rupees 363.89 365.39
    Euro 1.47 rupees 304.48 305.95
    Japanese Yen 2.23 paisa 1.8727 1.895
    Swiss Franc 1.87 rupees 323.69 325.55
    UAE Dirham 3.18 paisa 75.55 75.59
    Chinese Yuan 1.77 paisa 39.56 39.54
    Saudi Riyal 4.3 paisa 73.92 73.88

    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.

  • Exchange rates: PKR closes at Rs277.64 against US dollar, Rs368.97 versus Pound

    Exchange rates: PKR closes at Rs277.64 against US dollar, Rs368.97 versus Pound

    The Pakistani rupee (PKR), on the third trading day of the week, gained almost five paisa versus the US dollar (USD).

    PKR ended the session at Rs277.64 against the USD.

    The latest exchange rate released by the State Bank of Pakistan (SBP) shows PKR about 0.2 per cent up as compared to the last closing of Rs277.69, which was reported on Tuesday.

    During the trading session, the home unit remained stable as it saw an intraday high of Rs277.7 with the lowest level reported at Rs277.6.

    Exchange companies in the country were buying USD for Rs278.5 and selling for Rs280.

    Here is how the PKR performed against other foreign currencies:

    Currency Previous rate Today’s rate Difference
    British Pound 370.39 368.97 1.43 rupees
    UAE Dirham 75.59 75.60 1.35 paisa
    Euro 308.64 307.32 1.32 rupees
    Swiss Franc 327.56 328.35 79.37 paisa
    Chinese Yuan 39.57 39.56 0.71 paisa
    Saudi Riyal 74.02 73.97 4.18 paisa
    Japanese Yen 1.926 1.9277 0.17 paisa
    Exchange rates

    The Saudi Riyal closed today at Rs73.97 losing more than four paisas from its previous rate of Rs74.02.

    The British Pound decreased by Rs1.43, clocking in at Rs368.97, compared to Rs370.39 from a day ago.

    The rupee surged Rs1.32 versus Euro, ending at Rs307.32 as opposed to the Tuesday’s rate of Rs308.64.

    The UAE Dirham declined by only 1.35 paisa from Rs75.59 to Rs75.6.  

    The Chinese Yuan also witnessed very minor loss of 0.71 paisa, closing at Rs39.56 against Rs39.57.

    Swiss franc climbed 79.37 paisa, closing Wednesday at Rs328.35 compared to its last close of Rs327.56.

    Against the Japanese Yen, rupee shed 0.17 paisa, closing at Rs1.927 versus Rs1.926.

    Interestingly, Pakistani currency has remained stable for months against the US dollar as it has gained only 70.38 paisa or 0.25 per cent in the ongoing fiscal year.   

    The calendar year has also seen minimal changes USD to PKR rates as the home unit has appreciated by only Rs4.22. 

  • Exchange rates: PKR settles at Rs278.13 against US dollar, Rs309.47 per Euro

    Exchange rates: PKR settles at Rs278.13 against US dollar, Rs309.47 per Euro

    The Pakistani rupee (PKR) on the second trading day of the week rose marginally against the US dollar (USD) during intraday trading and managed to close the session in green.

    According to the State Bank of Pakistan (SBP), the PKR gained 0.03 per cent or nine paisa against USD and settled Wednesday at Rs278.13.

    Considering the current financial year, the home unit has appreciated against the greenback by 29.89 paisa or 0.11 per cent. On the other hand, the calendar year has seen rupee appreciate by Rs3.82 or 1.37 per cent.

    As compared to other foreign currencies, here is how the Pakistani currency performed today:

    Currency Monday’s rate Wednesday’s rate Change (Paisa)
    British Pound 366.59 366.97 38.88
    Euro 309.29 309.47 18.38
    UAE Dirham 75.70 75.72 2.31
    Saudi Riyal 74.11 74.08 2.85
    Swiss Franc 329.44 329.18 25.64
    Japanese Yen 1.988 1.9592 2.88
    Chinese Yuan 39.21 39.21 0.35
    Exchange rates for today

    The PKR shed 38.88 paisa against the British Pound and closed at Rs366.97 per GBP.

    The PKR shed over 18 paisa against the Euro and closed the trading session at Rs309.47 per Euro.

    The Swiss franc shed more than 25.6 paisa, closing at Rs329.18.

    The Saudi Riyal closed at 74.08 with a loss of 2.85 paisa from its value of 74.11 on Monday.

    Against the Japanese Yen, PKR rose 2.88 paisa, closing at Rs1.9592.

    The Chinese Yuan gained 0.35 paisa, closing the day at Rs39.21 against Rs39.21 on last trading day.

    For those unaware, the currency market remained closed on Tuesday due to the Eid Milad-un-Nabi holiday.

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

    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:

    Currency Thursday’s closing Difference Wednesday’s closing
    Saudi Riyal 74.24 -0.03 74.27
    UAE Dirham 75.90 +0.03 75.87
    Euro 308.95 +0.87 308.08
    British Pound 366.39 +0.72 365.67
    Swiss Franc 329.15 +0.74 328.41
    Japanese Yen 1.9402 +0.02 1.9209
    Chinese Yuan 39.25 +0.06 39.19
    Exchange rates comparison

    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

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

    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.

    Interbank closing rate for August 30, 2024

    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:

    Currency Friday’s value Change Thursday’s value
    Saudi Riyal 74.23 -2.78 paisa 74.26
    UAE Dirham 75.86 +2.85 paisa 75.84
    Euro 308.8 -79.84 paisa 309.6
    Swiss Franc 328.41 -2.35 rupees 330.75
    British Pound 367.35 -72.28 paisa 368.07
    Japanese Yen 1.921 -0.5 paisa 1.926
    Chinese Yuan 39.29 +9.14 paisa 39.2
    Exchange rates for Friday

    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.

  • SBP-held forex reserves surge to $7.76 billion in December

    SBP-held forex reserves surge to $7.76 billion in December

    In the week concluding on December 22, 2023, Pakistan witnessed a substantial increase in its total liquid foreign reserves, reaching a noteworthy $12,855.7 million.

    This surge was reported by the State Bank of Pakistan (SBP), which highlighted that the central bank’s reserves saw a remarkable uptick to $7,757.1 million during the same period.

    The SBP revealed that the surge in reserves, amounting to $852 million, was primarily attributed to official inflows from the Government of Pakistan received during the week under review.

    Simultaneously, commercial banks in the country reported net foreign reserves amounting to $5,098.6 million, further contributing to the overall resilience of Pakistan’s financial position.

    This positive development follows the previous week’s figures, ending on December 15, 2023, where the total liquid foreign reserves were recorded at $12,068.4 million.

    During this period, the central bank held reserves worth $6,904.8 million, with commercial banks reporting net foreign reserves of $5,163.6 million.

    In contrast to the positive financial indicators, Pakistan’s auto industry faced significant challenges in 2023, marked by a sharp decline in car sales of up to 55 per cent. Factories involved in manufacturing car parts also experienced a substantial production cut of 70 per cent.

    The persistent challenges in the auto sector were attributed to the exchange rate crisis, causing a decline in income until the previous year.

    The repercussions of reduced car sales were not limited to impacting the national Treasury; they also resulted in a noticeable decrease in revenue from products.

    An essential factor in this context is the adjustment made by automobile companies following a decrease in the value of the US dollar against the Pakistani rupee.

    In the closing months of 2023, these companies responded by slashing the prices of their units, reflecting the dynamic interplay between economic forces and market conditions.

  • PKR appreciates 15.82 paisa to close at Rs282.37 against USD

    PKR appreciates 15.82 paisa to close at Rs282.37 against USD

    In Tuesday’s interbank session, the Pakistani rupee (PKR) strengthened by 15.82 paisa against the US dollar (USD), concluding the trade at PKR 282.37 per USD—improved from the previous closing of PKR 282.53 per USD. 

    The Pakistani currency experienced intraday fluctuations, reaching a high bid of Rs282.8 and a low ask of Rs282.4.

    Within the open market, Exchange Companies quoted the dollar at Rs282 for buying and Rs284.8 for selling. 

    Against major currencies, the PKR depreciated by 46.13 paisa against the Euro, closing at Rs311.27, compared to the prior value of Rs310.81. 

    The British Pound became more affordable by 17.27 paisa, closing at Rs358.48, in contrast to Rs358.66 from the preceding day.

    The Swiss franc demonstrated gains of 4.63 paisa, concluding at Rs329.89, a slight increase from Rs329.84 in the previous session. 

    Against the Japanese Yen, the PKR gained 0.23 paisa, settling at Rs1.9841 as opposed to Rs1.9864 a day ago. 

    The Chinese Yuan experienced a decline of 3.37 paisa, closing at Rs39.52 compared to Rs39.55 in the previous session.

    The Saudi Riyal concluded at Rs75.27, indicating a loss of 4.32 paisa from its previous value of Rs75.31. 

    Simultaneously, the UAE Dirham decreased by 4.73 paisa, transitioning from Rs76.89 a day ago to Rs76.93.

  • Pakistani rupee appreciates 0.02% against US dollar to close at Rs283.21

    Pakistani rupee appreciates 0.02% against US dollar to close at Rs283.21

    In a continuing upward trend, the Pakistani rupee demonstrated resilience in the inter-bank market by securing gains against the US dollar for the fifth consecutive session, appreciating by 0.02 per cent on Monday.

    According to the State Bank of Pakistan (SBP), the rupee closed at Rs283.21, marking an increase of Re0.05.

    Throughout the preceding week, the rupee exhibited a noteworthy appreciation, gaining Re0.61 or 0.21 per cent to settle at Rs283.26 against the US dollar in the inter-bank market.

    This marks the fifth consecutive week of the rupee’s advancement against the dollar, a momentum attributed to the recent announcement of a staff-level agreement (SLA) between Pakistan and the International Monetary Fund (IMF) concerning the first review of the $3 billion Stand-by Arrangement (SBA).

    Since the revelation of the SLA on November 15, the local currency has strengthened by Rs4.88, or 1.7 per cent, against the greenback.

    Meanwhile, on a global scale, currencies commenced the week with caution following significant fluctuations in the previous week, driven by various central bank meetings, including rate decisions from the Federal Reserve, the European Central Bank (ECB), and the Bank of England (BoE).

    The greenback, which had been bolstered throughout most of 2022 and 2023 by aggressive rate hikes from the Fed and expectations of prolonged higher rates, experienced a notable decline of approximately 1.3 per cent against a basket of currencies last week in response to the outcomes of the Fed’s policy meeting.