PKR gains nearly 3 paisa against USD

According to Mettis Global, the rupee firmed slightly in Thursday's interbank trade and ended the day at PKR 277.42 per dollar. The move amounted to 2.79 paisa from the previous session, when the greenback had settled at PKR 277.45. Over the day, the currency oscillated between a bid of PKR 277.45 and an offer of PKR 277.40.

Exchange companies in the open market quoted the dollar at PKR 277.50 to buy and PKR 278.45 to sell. Against other major currencies the rupee showed mixed moves, sliding against the euro, Swiss franc, yen and yuan while gaining on the pound, Saudi riyal and UAE dirham. The sharpest decline came against the Japanese yen, where the rupee was down 1.77% at a rate of PKR 1.7679.

Year to date, the rupee has appreciated 73.79 paisa, or 0.27%, against the dollar in the current fiscal year, and by PKR 2.70, or 0.97%, in the calendar year so far. In money markets, the six-month Karachi Interbank Bid and Offer rates each rose by 2 basis points, to 11.61% and 11.86% respectively.