PKR posts marginal gain against USD

Mettis Global reported that the rupee gained 0.82 paisa against the US dollar on Wednesday, settling at Rs277.36 in the interbank market. The previous session had closed at Rs277.37. During the day, the currency reached Rs277.40 on the bid side and dipped to Rs277.35 on the ask side.

Exchange companies in the open market quoted the greenback at Rs277.70 for buying and Rs278.45 for selling. Against most other major currencies, however, the rupee lost ground. It slipped 36.50 paisa, or 0.11%, against the euro to Rs322.52, and fell 28.02 paisa, or 0.07%, against the British pound to Rs375.55.

Over the longer run, the rupee has gained 79.68 paisa, or 0.29%, against the dollar in the current fiscal year, and Rs2.76, or 0.99%, since the start of the calendar year. In the money market, the six-month Karachi Interbank Bid and Offer rates were unchanged at 11.63% and 11.88%.