PKR remains largely flat at 277.4 against USD

According to Mettis Global, the rupee gained 1.13 paisa against the US dollar in Monday's interbank market, closing at 277.40 compared with 277.41 previously. During the session, the rate touched 277.60 as both its intraday high and low. In the open market, exchange companies priced the greenback at 277.70 for buying and 278.45 for selling.

Versus major currencies, the rupee lost 0.11 per cent to the euro, with the single currency ending at 322.73 from 322.38. It also slipped 0.04 per cent against the British pound, finishing at 375.67, while the Japanese yen was the sharpest mover, with the rupee down 1.41 per cent at 1.7994. The rupee was little changed against the Chinese yuan, the Saudi riyal and the UAE dirham.

Over the current fiscal year the rupee has gained 75.96 paisa, or 0.27 per cent, against the dollar, and on a calendar-year basis it has appreciated Rs2.72, or 0.98 per cent. In the money market, six-month Karachi Interbank bid and offer rates each rose by one basis point, to 11.62 and 11.87 per cent respectively.