Rupee regains strength against US dollar After China News

The Pakistani rupee appreciated against the US Dollar after opening trade at 282 in the interbank market.

It was stable against the greenback today.

The interbank rate stayed at 281 most of the day before closing at the 279 level. Open market rates across multiple currency counters were in the 279-282 range today. The PKR appreciated by 0.06 percent and lost 16 paisas to close at 279.12 against the dollar today. 

Since April 2022, it is down Rs. 96.3 against the greenback. As per the exchange rate movements seen today, the PKR gained 16 paisas today. This comes after news that China earlier agreed to extend the maturity of a $2 billion loan to Pakistan on existing terms.

Inter-bank market rates for dollar on Wednesday

BID                            Rs 279.50

OFFER                      Rs 279.70

Open-market movement

In the open market, the PKR lost 13.00 paisa for buying and 12.00 paisa for selling against USD, closing at 279.80 and 282.44, respectively.

Against Euro, the PKR lost 1.06 rupee for buying and 1.02 rupee for selling, closing at 301.12 and 304.02, respectively.

Against UAE Dirham, the PKR gained 1.00 paisa for both buying and selling, closing at 76.13 and 76.88, respectively.

Against Saudi Riyal, the PKR lost 1.00 paisa for both buying and selling, closing at 74.35 and 75.04, respectively.

Open-market rates for dollar on Wednesday

BID                            Rs 279.80

OFFER                      Rs 282.44

The PKR was green against most of the other major currencies in the interbank market today. It gained four paisas against the UAE Dirham (AED), four paisas against the Saudi Riyal (SAR), Rs. 1.1 against the British Pound (GBP), Rs. 1.06 against the Euro (EUR), and 97 paisas against the Canadian Dollar (CAD) in today’s interbank currency market.

It gained Rs. 1.31 against the Australian Dollar (AUD).