The PKR Drops 1.17 Rupees against the USD in the Interbank

The intraday high (bid) and low (ask) for the local unit were 282.75 and 281.9, respectively.

The local unit lost 50 paisa in the open market as the dollar was quoted by exchange companies at 280.5 for buying and 283.5 for selling, as opposed to the closing values of 280 for buying and 283 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 PKR appreciated 76.16 paisa versus the Euro, closing at 298.08 as opposed to the previous value of 298.84, as compared to major currencies.

The value of the British Pound increased by 1.11 rupees, closing at 343.01 as opposed to 341.89 the previous day.

The Swiss franc closed at 310.63, down 1.26 rupees from the previous session's finish of 311.9.

PKR gained 0.33 paisa against the Japanese Yen, closing at 1.869 from 1.872 the previous day.

The Chinese Yuan closed at 38.6166, up 15.39 paisa from the previous session's closing of 38.4627.

The value of the Saudi Riyal increased by 31.56 paisa from its closing value of 75.03 the previous day to 75.34.

The value of the U.A.E. Dirham rose from 76.633 a day earlier to 76.955, a gain of 32.14 paisa.

The value of the rupee has increased by 3.34 rupees, or 1.18%, compared to the US dollar during the current fiscal year. In contrast, the value of the PKR has decreased by 19.89%, or 56.22 rupees, this calendar year.

The benchmark 6-month Karachi Interbank Bid and Offer rates in the money market remained at 21.75% and 22%.