Tag: exchange rates today

  • Pakistani rupee sheds over eight paisa against US dollar

    Pakistani rupee sheds over eight paisa against US dollar

    The Pakistani rupee (PKR), continuing the trend of minor fluctuations against the US dollar (USD), dropped more than eight paisa on the second trading day of the week.

    The latest exchange rate shared by the State Bank of Pakistan (SBP) showed the Pakistani currency down by about 0.03 per cent, or more than eight paisa, on Tuesday, as the local unit settled the trade at Rs277.74 against the greenback.

    This is slightly lower than Monday’s closing rate of Rs277.66 per USD. The highest value of the US dollar was quoted at Rs277.85, while the lowest rate was reported at Rs277.75.

    Money exchangers bought the USD for Rs277.86 and sold it for Rs279.35.

    In terms of other foreign currencies, PKR’s performance, as expected, was not that impressive as the home unit remained largely stable.

    PKR’s performance versus other foreign currencies

    Currency Difference Percentage change Tuesday’s closing Previous rate
    British Pound -42.61 -0.12% 363.22 362.79
    Euro +42.46 +0.14% 303.04 303.47
    Swiss Franc +67.43 +0.21% 322.45 N/A
    Chinese Yuan +17.73 +0.45% 39.04 39.22
    Japanese Yen -0.43 -0.23% 1.8632 1.8589
    UAE Dirham -2.32 -0.03% 75.62 N/A
    Exchange rates

    Against the British pound, the rupee dropped by 42.61 paisa or 0.12 per cent, closing at PKR 363.22 compared to PKR 362.79 on Monday.

    The PKR gained 42.46 paisa or 0.14 per cent against the euro, closing at PKR 303.04 from the previous rate of PKR 303.47.

    Against the Swiss franc, the rupee strengthened by 67.43 paisa or 0.21 per cent, closing at PKR 322.45.

    The PKR appreciated by 17.73 paisa or 0.45 per cent against the Chinese yuan, ending at PKR 39.04 from PKR 39.22.

    However, the local currency fell by 0.43 paisa or 0.23 per cent against the Japanese yen, closing at PKR 1.8632 from the previous close of PKR 1.8589.

    Lastly, the rupee declined by 2.32 paisa or 0.03 per cent against the UAE dirham, closing at PKR 75.62.

  • Exchange rates: PKR drops 19 paisa against USD, rises Rs1.12 against Euro

    Exchange rates: PKR drops 19 paisa against USD, rises Rs1.12 against Euro

    On Thursday, the Pakistani rupee (PKR) saw a slight depreciation of 19.23 paisa, or 0.07 per cent, against the US dollar (USD) in the interbank market.

    The rupee settled at PKR 278.64 per USD, compared to the previous closing rate of PKR 278.45. Throughout the trading session, the rupee reached an intraday high bid of PKR 278.80 and an intraday low ask of PKR 278.70.

    Interbank closing today

    In the open market, exchange companies quoted the USD at PKR 279.13 for buying and PKR 280 for selling.

    Here’s how Pakistani currency performed against other major currencies:

    Currency Change Previous rate Thursday’s rate
    Swiss Franc +50.26 paisa 330.25 330.75
    British Pound -38.65 paisa 368.46 368.07
    Euro +1.12 rupee 310.72 309.60
    Chinese Yuan +13.78 paisa 39.06 39.20
    Japanese Yen +0.01 paisa 1.9261 1.926
    Saudi Riyal +4.93 paisa 74.21 74.26
    UAE Dirham +5.24 paisa 75.86 75.81
    PKR exchange rates for Thursday

    In comparison to other major currencies, the Swiss franc gained 50.26 paisa, closing at PKR 330.75, up from PKR 330.25 in the previous session. Conversely, the British pound depreciated by 38.65 paisa, settling at PKR 368.07, compared to PKR 368.46 from the day before.

    The PKR also strengthened against the Euro, gaining 1.12 rupees to close at PKR 309.60, up from PKR 310.72. The Chinese yuan saw an increase of 13.78 paisa, closing at PKR 39.20 compared to PKR 39.06 previously.

    Against the Japanese yen, the PKR gained 0.01 paisa, ending at PKR 1.926, compared to PKR 1.9261 a day earlier. The Saudi riyal closed at PKR 74.26, reflecting a gain of 4.93 paisa from PKR 74.21 the previous day. The UAE dirham appreciated by 5.24 paisa, closing at PKR 75.81 compared to PKR 75.86.

    Read more: Gold price falls from peak, now at Rs261,500 per tola

    In recent months, the PKR has largely fluctuated between PKR 277 and PKR 279 as traders await approval from the International Monetary Fund’s (IMF) Executive Board for a new $7 billion Extended Fund Facility. In a positive development,

    Moody’s Ratings upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings from Caa3 to Caa2. Moody’s also anticipates IMF approval for Pakistan’s Extended Fund Facility in the coming weeks.

    Globally, the US dollar stabilised on Thursday, recovering some of its previous losses. Traders are now looking forward to a key US inflation report at the end of the week, which may provide further insights into the future direction of interest rates.

    So far in the current financial year, the PKR has depreciated against the dollar by 30.11 paisa, or 0.11 per cent. However, for the calendar year, the PKR has appreciated by 3.22 rupees, or 1.16 per cent.