PKR holds firm against USD

Mettis Global reported that the rupee firmed by 0.83 paisa on Thursday, settling at Rs277.65 in the interbank market. Intraday, quotes spanned 277.65 on the ask side and 277.85 on the bid side. Exchange firms in the open market priced the greenback at Rs278.00 for purchase and Rs278.70 for sale.

Against other major currencies, the rupee also firmed. The euro's rupee price dropped 37.05 paisa, or 0.12 per cent, to Rs319.98 from Rs320.35, while sterling eased 88.58 paisa, or 0.24 per cent, to Rs374.26. The Swiss franc slipped 24.13 paisa, or 0.07 per cent, to Rs341.54 in rupee terms.

Measured from the start of the fiscal year, the rupee has gained 50.92 paisa, or 0.18 per cent, against the dollar. On a calendar-year basis the gain is Rs2.47, or 0.89 per cent. Money market benchmarks also edged higher, with six-month KIBOR bid and offer rates each up one basis point at 11.51% and 11.76%.