PKR Inches Up Slightly Against Dollar
The Pakistani Rupee (PKR) saw a modest rise against the US Dollar (USD) in the interbank market on Thursday, closing at PKR 282.87, an increase of 8 paisa or 0.03% from the previous day’s rate.
During trading, the currency showed relative stability, moving between a bid of 283.0 and an ask of 285.7, indicating a calm sentiment in the market.
In the open market, exchange companies quoted the greenback at PKR 283.05 for buying and PKR 285.80 for selling. Against other major currencies, the PKR experienced mixed trends.
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It fell by 81.50 paisa against the Euro to 348.85, gained 15 paisa against the British Pound to 377.50, and slipped by 37.40 paisa against the Swiss Franc to 365.30. The rupee edged up slightly against the Japanese Yen and the UAE Dirham.
Money market indicators remained unchanged, with the 6-month KIBOR bid and offer rates holding steady at 10.72% and 10.97%, respectively.
Since the start of the year, the PKR has lost 2.50% in value, with today’s minor gain offering a brief reprieve for a currency that has faced consistent pressure.
