PKR gains marginally against USD, closes at PKR277.6

Mettis Global reported that the rupee firmed slightly against the US dollar during Wednesday's interbank trading, ending the day at 277.60 per dollar. That compares with 277.61 in the prior session, a move of just 0.86 paisa, with intraday trade confined to 277.60 and 277.65. Open-market rates from exchange firms stood at Rs277.75 for buying and Rs278.65 for selling.

Although it held firm against the dollar, the rupee slipped versus most leading global currencies. Against the euro, it shed 78.12 paisa, with the currency finishing at 321.99 compared with 321.21 before. Sterling cost Rs376.25 after the rupee lost 79.34 paisa, and the Swiss franc and Chinese yuan also rose in rupee terms. Against Gulf currencies, the rupee gained, with the riyal at 73.94 and the dirham at 75.59.

Over the current fiscal year, the rupee has firmed 55.78 paisa (0.20%) against the greenback, and it has gained Rs2.52 (0.91%) since the calendar year began. In the money market, the six-month KIBOR bid and offer rates both climbed 3 basis points, to 11.54% and 11.79% respectively.