AGL 23.81 Decreased By ▼ -0.54 (-2.22%)
AIRLINK 103.60 Increased By ▲ 0.60 (0.58%)
BOP 5.66 Decreased By ▼ -0.05 (-0.88%)
CNERGY 3.93 Decreased By ▼ -0.03 (-0.76%)
DCL 8.36 Decreased By ▼ -0.14 (-1.65%)
DFML 41.70 Decreased By ▼ -1.29 (-3%)
DGKC 88.30 Decreased By ▼ -0.60 (-0.67%)
FCCL 22.70 No Change ▼ 0.00 (0%)
FFBL 40.88 Increased By ▲ 2.68 (7.02%)
FFL 8.96 Decreased By ▼ -0.15 (-1.65%)
HUBC 160.49 Decreased By ▼ -3.21 (-1.96%)
HUMNL 11.46 Decreased By ▼ -0.34 (-2.88%)
KEL 4.82 Decreased By ▼ -0.03 (-0.62%)
KOSM 4.09 Decreased By ▼ -0.04 (-0.97%)
MLCF 38.60 Increased By ▲ 0.19 (0.49%)
NBP 53.60 Increased By ▲ 0.75 (1.42%)
OGDC 130.60 Decreased By ▼ -2.29 (-1.72%)
PAEL 25.36 Decreased By ▼ -0.29 (-1.13%)
PIBTL 6.25 Decreased By ▼ -0.13 (-2.04%)
PPL 118.90 Decreased By ▼ -0.60 (-0.5%)
PRL 23.95 Decreased By ▼ -0.65 (-2.64%)
PTC 12.92 Increased By ▲ 0.28 (2.22%)
SEARL 59.11 Decreased By ▼ -0.49 (-0.82%)
TELE 7.43 Decreased By ▼ -0.06 (-0.8%)
TOMCL 34.99 Decreased By ▼ -0.16 (-0.46%)
TPLP 8.72 Decreased By ▼ -0.13 (-1.47%)
TREET 15.90 Increased By ▲ 0.10 (0.63%)
TRG 55.95 Decreased By ▼ -1.95 (-3.37%)
UNITY 34.95 Increased By ▲ 0.06 (0.17%)
WTL 1.20 Decreased By ▼ -0.02 (-1.64%)
BR100 8,536 Decreased By -8.5 (-0.1%)
BR30 27,187 Decreased By -204 (-0.74%)
KSE100 79,944 Decreased By -48.3 (-0.06%)
KSE30 25,500 Decreased By -43.9 (-0.17%)
Markets

Rupee records marginal loss against US dollar

  • Currency settles at 278.62 against greenback in inter-bank market
Published June 24, 2024

The Pakistani rupee registered a marginal loss against the US dollar, depreciating 0.04% in the inter-bank market on Monday.

At close, the local unit settled at 278.62, a loss of Re0.11 against the greenback.

During a shortened previous week, the rupee had remained unchanged against the US dollar as it closed at 278.51, the same as it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP).

In recent weeks, the domestic currency has largely been around 277-279 against the dollar as Pakistan moves forward with its plan to win a longer and larger International Monetary Fund (IMF) bailout programme.

Globally, the US dollar was steady on Monday as traders looked ahead to fresh clues on the US inflation path that will likely influence interest rates.

“The US dollar has opened bid this morning and appears to have broken higher following better US PMI data on Friday night and political concerns ahead of the French election,” said Tony Sycamore, a Sydney-based markets analyst at IG.

The dollar index, which measures the US unit against six peers, was last at 105.84, hovering close to the nearly eight week high of 105.91 it touched last week.

The spotlight this week will be on the US personal consumption expenditures (PCE) price index - the Federal Reserve’s favoured gauge of inflation - due on Friday.

Oil prices, a key indicator of currency parity, firmed slightly on Monday as traders weighed support from expected summer demand and geopolitical tensions against a stronger dollar.

Brent crude futures were up 15 cents, or 0.2%, at $85.39 a barrel by 0850 GMT.

US West Texas Intermediate crude futures were at $80.86 a barrel, up 13 cents, or 0.2%. Both benchmarks gained about 3% last week for their second consecutive weekly gains.

Inter-bank market rates for dollar on Monday

BID Rs 278.62

OFFER Rs 278.82

Open-market movement

In the open market, the PKR remained unchanged for buying and gained 3 paise for selling against USD, closing at 277.70 and 280.32, respectively.

Against Euro, the PKR lost 16 paise for buying and 11 paise for selling, closing at 294.25 and 297.12, respectively.

Against UAE Dirham, the PKR remained unchanged for both buying and selling, closing at 75.09 and 75.83, respectively.

Against Saudi Riyal, the PKR remained unchanged for buying and gained 1 paisa for selling, closing at 73.10 and 73.80, respectively.

Open-market rates for dollar on Monday

BID Rs 277.70

OFFER Rs 280.32

Comments

200 characters