PKR extends gains, closes at 277.66 against USD

Mettis Global reported that the rupee gained slightly against the dollar on Wednesday, closing the interbank session at Rs277.66 per greenback. That was 1.10 paisa stronger than the Rs277.67 level seen on Tuesday. Trading stayed within a tight band, peaking at 277.70 and dipping to 277.65 during the day.

In the open market, exchange companies priced the dollar at Rs278.20 to buy and Rs278.70 to sell. Against major peers, the rupee lost ground to the euro, closing at Rs320.35, and the pound, which ended at Rs375.15. It firmed against the Swiss franc, which settled at Rs341.78, up 0.15 per cent.

Over the fiscal year to date the rupee has gained 50.09 paisa, or 0.18 per cent, against the dollar, and it is up Rs2.46, or 0.89 per cent, since the calendar year began. Separately, the six-month Karachi Interbank Bid and Offer rates stayed unchanged at 11.50 per cent and 11.75 per cent.