February 14, 2024 (MLN): The Pakistani rupee (PKR) depreciated by 0.06 paisa against the US dollar in Wednesday's interbank session as the currency settled the trade at PKR 279.32 per USD, compared to the previous session's closing of PKR 279.31 per USD.
The currency saw an intraday high (bid) of 279.55 and a low (ask) of 279.35.
In the open market, exchange companies quoted the dollar at 279.14 for buying and 281.59 for selling.
The financial markets are embracing the incoming government following last week's elections in the country.
However, the uncertainty arising from delays in election results has adversely impacted the financial markets.
The election outcome points to increased political instability, casting a darker shadow over growth and prospects for securing International Monetary Fund (IMF) aid the country needs to avoid default, said Bloomberg.
This was the primary reason the home unit witnessed a drop in the previous session against the mighty Dollar.
In comparison to major currencies, PKR gained 1.97 rupees against the Euro, closing at 298.91 compared to the previous value of 300.88.
The British Pound became cheaper by 2.9 rupees closing at 350.46 compared to 353.36 from a day ago.
The Swiss franc saw losses of 2.72 rupees, closing at 314.58 compared to 317.3 from the previous session.
Against the Japanese Yen, PKR gained 1.15 paisa, closing at 1.8554 versus 1.8669 a day ago.
The Chinese Yuan gained 0.01 paisa, closing at 38.83 against 38.83 from the previous session.
The Saudi Riyal closed at 74.48 with a loss of 0.39 paisa from its value of 74.48 a day ago.
The U.A.E Dirham increased in value by 0.22 paisa from 76.05 a day ago to 76.05.
During the current financial year, PKR has appreciated against the Dollar by 6.68 rupees or 2.39%. While the current calendar year has seen PKR appreciate by 2.55 rupees or 0.91%.
In the Money Market, the benchmark 6 Month Karachi Interbank Bid and Offer rates inched up by 2 bps to 21.18% and 21.43%.
Performance Summary
| Currency | Feb 14, 2024 | Feb 13, 2024 | Change | 1 Month | FYTD | CYTD | 1 Day | 7 Day | 1 Month | MTD | FYTD | CYTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| USD | 279.3153 | 279.3147 | -0.0006 | 0.9241 | 6.6752 | 2.5454 | 0% | 0.01% | 0.33% | 0.07% | 2.39% | 0.91% |
| EUR | 298.9093 | 300.8778 | 1.9685 | 8.1771 | 14.0215 | 12.589 | 0.66% | 0.57% | 2.74% | 1.15% | 4.69% | 4.21% |
| GBP | 350.457 | 353.3611 | 2.9041 | 6.7502 | 13.6803 | 8.1402 | 0.83% | 0.59% | 1.93% | 1.09% | 3.9% | 2.32% |
| CHF | 314.5798 | 317.295 | 2.7152 | 14.1276 | 5.177 | 20.49 | 0.86% | 1.87% | 4.49% | 2.88% | 1.65% | 6.51% |
| JPY | 1.8554 | 1.8669 | 0.0115 | 0.0723 | 0.1369 | 0.1341 | 0.62% | 1.68% | 3.9% | 2.02% | 7.38% | 7.23% |
| SAR | 74.4761 | 74.48 | 0.0039 | 0.2484 | 1.7779 | 0.6867 | 0.01% | 0.01% | 0.33% | 0.07% | 2.39% | 0.92% |
| AED | 76.0497 | 76.0475 | -0.0022 | 0.2516 | 1.8121 | 0.693 | 0% | 0.01% | 0.33% | 0.06% | 2.38% | 0.91% |
| CNY | 38.8283 | 38.8282 | -0.0001 | 0.2444 | 0.8414 | 0.8031 | 0% | 0% | 0.63% | 0.24% | 2.17% | 2.07% |
52 Week Performance
| Currency | High | Low | Trading Band | % Since High | % Since Low | High Date | Low Date | Days Since High | Days Since Low |
|---|---|---|---|---|---|---|---|---|---|
| USD | 259.923 | 307.1 | 47.1771 | -6.94% | 9.95% | 27-Feb-23 | 05-Sep-23 | 352 | 162 |
| EUR | 274.296 | 332.701 | 58.4043 | -8.23% | 11.3% | 27-Feb-23 | 31-Aug-23 | 352 | 167 |
| GBP | 310.789 | 387.972 | 77.183 | -11.32% | 10.7% | 27-Feb-23 | 31-Aug-23 | 352 | 167 |
| CHF | 275.926 | 347.163 | 71.2367 | -12.29% | 10.36% | 27-Feb-23 | 31-Aug-23 | 352 | 167 |
| JPY | 1.851 | 2.2178 | 0.3668 | -0.24% | 19.53% | 16-Oct-23 | 11-May-23 | 121 | 279 |
| SAR | 69.2748 | 81.8703 | 12.5955 | -6.98% | 9.93% | 27-Feb-23 | 05-Sep-23 | 352 | 162 |
| AED | 70.7677 | 83.6089 | 12.8412 | -6.95% | 9.94% | 27-Feb-23 | 05-Sep-23 | 352 | 162 |
| CNY | 37.3219 | 43.0908 | 5.7689 | -3.88% | 10.98% | 27-Feb-23 | 11-May-23 | 352 | 279 |
Copyright Mettis Link News
Posted on:2024-02-14T15:55:37+05:00
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