PKR edges higher to 277.3 against USD

Mettis Global reported that the rupee edged up on Monday in the interbank market, finishing at Rs277.31 to the dollar after a Friday close of Rs277.32. Trading ranged between a high bid of Rs277.50 and a low ask of Rs277.30 during the session. Among exchange companies, the greenback was priced at Rs277.50 to buy and Rs278.35 to sell in the open market.

The rupee was also firmer against most major currencies, gaining 0.55 per cent on the euro and 0.62 per cent on the Swiss franc. Priced in rupees, the euro ended at Rs319.94 and the pound at Rs373.86, after the local unit gained Rs1.77 and 77.54 paisa against them respectively. The Chinese yuan was the exception, with the rupee slipping 1.19 paisa, or 0.03 per cent, and the yuan ending at Rs41.35.

Over the current fiscal year the rupee has gained 84.81 paisa, or 0.31 per cent, against the dollar, and Rs2.81, or 1.01 per cent, on a calendar-year basis. In the money market, the six-month KIBOR bid and offer rates held steady at 11.74 and 11.99 per cent.