PKR firms up against dollar, settles at 277.3

Mettis Global reported that the rupee edged up against the greenback during Tuesday's interbank session, closing at Rs277.30 per dollar compared with Rs277.31 on Monday. Trading stayed within a narrow band, with the intraday high bid at 277.35 and the low ask at 277.30. Exchange companies in the open market quoted the dollar at Rs277.70 for buying and Rs278.35 for selling.

Against other major currencies, the rupee posted mixed moves. It gained 10.98 paisa versus the euro, reaching Rs319.83, and firmed 20.90 paisa, a 0.06% gain, versus the pound, closing at Rs373.65. Versus the Swiss franc, the currency lost 73.19 paisa, a 0.22% decline, and ended at Rs339.25. Against the yen, the rupee gained 0.60 paisa to Rs1.7885, while the yuan, Saudi riyal and UAE dirham also firmed slightly.

Over the ongoing fiscal year, the rupee has firmed 85.92 paisa, equal to 0.31%, against the dollar. On a calendar-year basis, however, the local currency has added Rs2.82, or 1.02%. In money markets, the six-month KIBOR bid rate of 11.74% and offer rate of 11.99% were both left unchanged.