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Rupee appreciates against US dollar in inter-day trading

10:26 AM | 19 Apr, 2024
Rupee appreciates against US dollar in inter-day trading

KARACHI – The Pakistani rupee saw a slight appreciation against the US dollar on Friday, gaining 0.1% in the early hours of trading in the inter-bank market.

At 10 am, the rupee was trading at 278.15, up by Re0.29 against the greenback.

On Thursday, the rupee had experienced a minor decline, settling at 278.44 against the US dollar, according to the State Bank of Pakistan (SBP).

In a significant update, the International Monetary Fund is prepared to support Pakistan, emphasizing the importance of reform measures over the size of the new program, said the fund's Middle East and Central Asia director on Thursday.

“I think what is important at this stage is to accelerate the reforms and double down on the structure of reforms to enable Pakistan to reach its full growth potential,” said Jihad Azour at a press conference during the IMF 2024 Spring Meetings.

Globally, a wave of risk aversion affected markets on Friday, causing the Australian and New Zealand dollars to decline sharply, while the yen gained support due to safe-haven buying after reports of explosions in Iran emerged.

In the broader market, the dollar strengthened, aiming for a second consecutive week of gains as a hotter-than-expected US economy delayed expectations of Federal Reserve rate cuts.

Oil prices, a key indicator of currency parity, surged $3 a barrel on Friday after reports of Israeli missile strikes in Iran, sparking worries of potential disruptions to Middle East oil supply.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - Pak Rupee to US Dollar, Euro, Dirham, Riyal 19 May 2024

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 19 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegian Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Baht THB 7.57 7.72

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