Tag: pound to pkr

  • Exchange rates for Tuesday: PKR gains 9.6 paisa against US dollar, 37 paisa against Euro

    Exchange rates for Tuesday: PKR gains 9.6 paisa against US dollar, 37 paisa against Euro

    The Pakistani rupee (PKR) appreciated by 9.62 paisa, or 0.03 per cent, against the US dollar during Tuesday’s interbank session, closing at PKR 278.32 per USD, compared to the previous rate of PKR 278.42.

    Throughout the session, the currency fluctuated, with an intraday high of PKR 278.40 and a low of PKR 278.20. In the open market, exchange companies quoted the dollar at PKR 279.12 for buying and PKR 280.00 for selling.

    Currency Change (Paisa) Closing rate (PKR) Previous rate (PKR)
    Euro +37.19 310.87 311.24
    British Pound +23.5 367.59 367.36
    Swiss Franc -46.25 328.34 328.81
    Japanese Yen +1.46 1.9197 1.9343
    Chinese Yuan -6.78 39.03 39.10
    Saudi Riyal -2.56 74.18 74.20
    UAE Dirham -2.62 75.80 75.78
    Exchange rates

    In relation to other major currencies, the PKR gained 37.19 paisa against the Euro, closing at PKR 310.87, up from the previous value of PKR 311.24.

    The Saudi Riyal closed at PKR 74.18, down by 2.56 paisa from its previous value of PKR 74.20. Similarly, the U.A.E Dirham decreased by 2.62 paisa, closing at PKR 75.80 from PKR 75.78 a day earlier.

    The British Pound became slightly more expensive, rising by 23.5 paisa to close at PKR 367.59, compared to the previous close of PKR 367.36. The Swiss Franc saw a loss of 46.25 paisa, closing at PKR 328.34, down from PKR 328.81.

    Read more: Exchange rates for Tuesday: PKR gains 9.6 paisa against US dollar, 37 paisa against Euro

    Against the Japanese Yen, the PKR gained 1.46 paisa, closing at PKR 1.9197, compared to PKR 1.9343 the previous day. The Chinese Yuan lost 6.78 paisa, closing at PKR 39.03, down from PKR 39.10 in the previous session.

    During the current financial year, the PKR has appreciated by 2.01 paisa, or 0.01 per cent, against the US dollar. Meanwhile, in the current calendar year, the PKR has strengthened by PKR 3.54, or 1.27 per cent.

  • Pakistani rupee closes week strong at Rs282.53 against US dollar

    Pakistani rupee closes week strong at Rs282.53 against US dollar

    In a trend marking its ninth consecutive session, the Pakistani rupee (PKR) demonstrated resilience against the US dollar (USD) by registering a 0.09 per cent appreciation in the inter-bank market on Friday.

    Closing the week at Rs282.53, the currency saw an increase of Rs0.26, according to the State Bank of Pakistan (SBP).

    This positive momentum follows a marginal gain on Thursday, settling at Rs282.79 against the US dollar.

    Simultaneously, the foreign exchange reserves held by the State Bank of Pakistan experienced a decline, falling below the $7 billion mark.

    A notable decrease of $136 million, attributed to debt repayments during the week ending December 15, 2023, brought the reserves to $6.904 billion.

    On the international front, the US dollar found itself near a more than four-month low on Friday, anticipating a key US inflation gauge reading scheduled for later in the day.

    This data is expected to provide clarity on the Federal Reserve’s room to manoeuvre in terms of interest rate cuts in the coming year.

    Early Asia trade witnessed the greenback hitting a five-month trough against the New Zealand dollar and a three-week low against the euro.

    This decline resumed after a sudden risk-aversion episode in New York hours on Wednesday triggered a sell-off in US stocks, leading to a rise in the dollar.

    Against a basket of currencies, the greenback hovered around 101.76, remaining close to the previous session’s more than four-month low of 101.72.

     The dollar index seemed poised for a weekly loss of about 0.8 per cent, extending the previous week’s 1.3 per cent decline.

    The Federal Reserve’s decision to leave the door open to potential rate cuts in the next year, as indicated in its last policy meeting for 2023, contributed to the ongoing downward pressure on the US dollar.

    This market movement has implications for various currency pairs, including the Pakistani rupee to US dollar exchange rate, which continues to be of interest to investors tracking global economic trends.