In interbank trading, the PKR is down 31 paisa versus the US dollar

The intraday high (bid) and low (ask) for the local unit were 279.35 and 279.15, respectively.

Exchange businesses priced the dollar at 278.5 for purchasing and 281.5 for selling in the open market, down from the previous closure of 278 for buying and 281 for selling. As a result, the local unit lost 50 paisa.

It is noteworthy to note that the PKR has now lost two straight sessions against the US dollar.

Last week, the local unit ended its 28-day historic streak of an upward trajectory against the USD, losing 1.18 rupees against the greenback.

The decline was attributed to the low liquidity of US Dollars within banks, due to which they were quoting forward rates.

In comparison to major currencies, PKR lost 1.38 rupees against the Euro, closing at 297.44 compared to the previous value of 296.06.

The British Pound became expensive by 2.71 rupees, closing at 342.53 compared to 339.82 from a day ago.

The Swiss franc saw gains of 64.47 paisa, closing at 313.26 compared to 312.62 from the previous session.

Against the Japanese Yen, PKR lost 0.66 paisa, closing at 1.869 versus 1.862 a day ago.

The Chinese Yuan gained 8.36 paisa, closing at 38.2302 against 38.1466 from the previous session.

The Saudi Riyal closed at 74.49 with a gain of 7.94 paisa from its value of 74.41 a day ago.

The U.A.E Dirham increased in value by 8.21 paisa from 75.993 a day ago to 76.075.

During the current financial year, PKR has appreciated against the Dollar by 6.56 rupees or 2.35%. While the current calendar year has seen PKR depreciate by 53 rupees or 18.97%. 

In the Money Market, the benchmark 6-month Karachi Interbank Bid and Offer rates inched down by 5 bps to 21.77% and 22.02%.