PKR Drops More Than 52 Paisa Compared to USD

In relation to the US dollar, the currency experienced an intraday high (bid) of 281.5 and a low (ask) of 281.4.

The local unit lost 50 paisa in the open market as the dollar was quoted by exchange companies at 280 for buying and 283 for selling, as opposed to the closing values of 279.5 for buying and 282.5 for selling.

It should be noted that this is the eighth session in a row that the value of the local currency has decreased relative to the US dollar.

Moreover, the PKR gained 6.26 rupees, or 2.23%, versus the US dollar at the end of October.

The Pakistan Rupee (PKR) experienced a decline of 2.44 rupees in relation to the Euro, finishing at 298.84 as opposed to its previous value of 296.4.

The value of the British Pound increased by 2.07 rupees, closing at 341.89 from 339.82 the previous day.

The Swiss franc closed at 311.9, up 1.01 rupees from the previous session's close of 310.89.

PKR increased by 0.73 paisa against the Japanese Yen, closing at 1.872 compared 1.879 the previous day.

The Chinese Yuan closed at 38.4627, up 6.96 paisa from the previous session's closing of 38.3931.

The Saudi Riyal closed at 75.03, up 14.08 paisa from the previous day's value of 74.89.

The value of the U.A.E. Dirham rose from 76.49 to 76.633 a day ago, a gain of 14.28 paisa.

The value of the rupee has increased by 4.52 rupees, or 1.6%, compared to the US dollar during the current fiscal year. In contrast, the value of the PKR has decreased by 19.56%, or 55.04 rupees, this calendar year.

The benchmark 6-month Karachi Interbank Bid and Offer rates increased by 8 basis points to 21.75% and 22% in the money market.