PKR strengthens nearly 3 paisa against USD

The rupee strengthened slightly against the US dollar on Tuesday, according to Mettis Global, closing the interbank market at Rs277.37 per dollar. That was a gain of 2.90 paisa from Monday's close of Rs277.40. During the session, the currency traded between a bid-side high of Rs277.60 and an ask-side low of Rs277.35.

Exchange companies in the open market quoted the dollar at Rs277.50 for buying and Rs278.40 for selling. The local unit also gained against most major currencies, rising 57.46 paisa, or 0.18%, against the euro to Rs322.15. Sterling and the Swiss franc also moved in the rupee's favour, while the Japanese yen was the one major currency to weaken, slipping to Rs1.8027.

Over the current fiscal year the rupee has appreciated 78.86 paisa, or 0.28%, against the dollar, and Rs2.75, or 0.99%, since the start of the calendar year. Money market rates edged higher, with the six-month Karachi Interbank Bid and Offer rates each rising 1 basis point to 11.63% and 11.88%.