PKR edges up to 277.26 against USD

During Thursday's interbank session, the rupee edged slightly firmer against the greenback, according to Mettis Global, closing at 277.26 per USD. That level was a fraction stronger than the previous day's 277.27, as the currency stayed within a tight band between 277.25 and 277.30 across the session.

In the open market, exchange companies quoted the dollar at 277.50 for buying and 278.30 for selling. Against most major currencies, the rupee firmed, with gains of Rs2.06 (0.64%) against the euro to Rs318.06, Rs2.42 (0.65%) against sterling to Rs371.10 and Rs2.80 (0.83%) against the Swiss franc to Rs335.97.

Over the current fiscal year, the rupee has gained 89.81 paisa (0.32%) against the dollar, and on a calendar-year basis the gain is Rs2.86 (1.03%). Money market rates also moved, with the six-month Karachi Interbank Bid and Offer rates falling 2 basis points to 11.73% and 11.98%.