Intraday trading: Pakistani rupee up by four paisa against US dollar

KARACHI: The Pakistani rupee (PKR) remained mostly stable against the US dollar (USD) on Thursday, appreciating by 0.01 per cent during early trading in the interbank market.

The currency was trading at Rs277.60 in the morning, marking a slight increase of Re0.04 against the dollar.

Throughout the current fiscal year, the PKR has appreciated by 70.38 paisa or 0.25 per cent against the USD, while this year overall has seen an increase of 4.22 rupees or 1.52 per cent.

On Wednesday, the PKR appreciated by 4.95 paisa (0.02 per cent) against the USD, closing the interbank session at Rs277.64, up from the previous close of Rs277.69.

Here is how the PKR fared against other major currencies on Wednesday:

Saudi Riyal: Closed at Rs73.97, down by 4.18 paisa from Rs74.02.

Euro: Gained Rs1.32, closing at Rs307.32, compared to Rs308.64 previously.

UAE Dirham: Declined by 1.35 paisa, settling at Rs75.60 from Rs75.59.

Japanese Yen: Lost 0.17 paisa, closing at Rs1.9277, compared to Rs1.926.

British Pound: Became cheaper by Rs1.43, ending at Rs368.97, down from Rs370.39.

Swiss Franc: Appreciated by 79.37 paisa, closing at Rs328.35, compared to Rs327.56.

Chinese Yuan: Lost 0.71 paisa, ending the day at Rs39.56, down from Rs39.57.

On a global scale, the US dollar rose to a one-month high against the Japanese yen on Thursday as signs of strength in the US job market suggested the Federal Reserve may not be in a hurry to lower interest rates.

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