The Pakistani rupee (PKR) showed a largely stable performance against major foreign currencies on Thursday, with modest gains in the interbank market, according to data released by the State Bank of Pakistan (SBP).
Against the US dollar (USD), the rupee edged up by 1.03 paisa to close at PKR280.05 per USD, compared with the previous close of Rs280.06. Trading remained range bound during the session, with the local unit touching an intraday high of Rs280.3 and a low of Rs281.1.
On a broader basis, the rupee has shown some resilience this fiscal year. Since the start of the current financial year, it has strengthened by Rs3.71, or 1.33 percent, against the dollar. On a calendar year basis, the currency has posted a marginal appreciation of 7.13 paisa, or 0.03 percent.
Pakistani rupee’s performance against foreign currencies
The PKR recorded mixed movement against other leading currencies during the session.
Yen to PKR: PKR gained slightly against the Japanese yen, rising by 0.03 paisa, or 0.02 percent, to close at Rs1.7893 per yen.
Dirham to PKR: The local currency also strengthened against the UAE dirham, improving by 0.28 paisa to settle at Rs76.25.
Euro to PKR: Against the euro, the rupee posted a gain of 15.21 paisa, or 0.05 percent, closing at Rs327.02 compared with Rs327.17 a day earlier.
Swiss Franc to PKR: A stronger move was seen against the Swiss franc, where the PKR appreciated by 56.40 paisa, or 0.16 percent, to end the day at Rs351.12.
British Pound to PKR: The Pakistani currency also advanced against the British pound, strengthening by Rs1.30, or 0.34 percent, to close at Rs376.50, down from the previous level of Rs377.80.
Yuan to PKR: PKR lost 4.44 paisa, or 0.11 percent, against the Chinese yuan, closing at Rs40.11 compared with Rs40.06 previously.
Saudi Riyal to PKR: The rupee also slipped by 0.22 paisa against the Saudi riyal to settle at Rs74.68.
NBP foreign exchange rates
Meanwhile, the treasury management division of the National Bank of Pakistan issued its daily exchange rates, which serve as a benchmark for market participants.
According to the NBP rates, the US dollar was quoted at Rs279.95 for buying and Rs280.45 for selling. The euro was listed at Rs326.96 on the buying side and Rs327.54 on the selling side.
The British pound stood at Rs376.87 for buying and Rs377.54 for selling, while the Swiss franc was quoted at Rs351.12 for buying and Rs351.75 for selling.
Among regional currencies, the UAE dirham was priced at Rs76.24 for buying and Rs76.37 for selling, while the Saudi riyal was quoted at Rs74.65 and Rs74.79, respectively. The Chinese yuan was listed at Rs40.48 for buying and Rs40.56 for selling.
The Japanese yen was quoted at Rs1.7866 for buying and Rs1.7898 for selling. Other currencies included the Canadian dollar at Rs202.00 buying and Rs202.36 selling, the Australian dollar at Rs187.96 and Rs188.29, and the Singapore dollar at Rs218.11 and Rs218.50.
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