PKR drops more than 32 paisas versus the USD in interbank trade
In Monday's interbank session, the Pakistani rupee (PKR) lost 32 paisa against the US dollar, ending the week at PKR 279.12, down from the previous day's closing of PKR 278.8.
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The intraday high (bid) and low (ask) for the local unit were 279.1 and 278.9, respectively.
It is significant to note that the local currency lost 1.18 rupees to the US dollar last week, ending a 28-day historical trend of appreciation against the US dollar.
The PKR depreciated against the Euro by 81.77 paisa in relation to the major currencies, closing at 296.06 as opposed to 295.25.
The British Pound closed at 339.82, up 1.93 rupees from the previous day's 337.89.
The Swiss franc closed at 312.62, down 35.57 paisa from the previous session's closing price of 312.97.
PKR shed 0.29 paisa vs the Japanese Yen, closing at 1.862 versus 1.859 the previous day.
The Chinese Yuan closed at 38.1466, up 4.17 paisa from the previous session's closing of 38.1049.
The Saudi Riyal gained 8.74 paisa from its value of 74.32 a day earlier to close at 74.41.
The value of the U.A.E. Dirham rose from 75.902 to 75.993 a day ago, a gain of 9.03 paisa.
The value of the rupee has increased by 6.87 rupees, or 2.46%, compared to the US dollar during the current fiscal year. In contrast, the value of the PKR has decreased by 18.88%, or 52.69 rupees, this calendar year.
The benchmark 6-month Karachi Interbank Bid and Offer rates increased by 2 basis points to 21.82% and 22.07% in the money market.
