PKR gains 3 paisa against USD, settles at 277.12

According to Mettis Global, the rupee firmed against the greenback in Tuesday's interbank market, closing at Rs277.12 compared with Rs277.15 a day earlier. The currency gained 3.23 paisa and traded within a narrow band of Rs277.10 to Rs277.15 during the session. On the open market, exchange firms priced the dollar at Rs277.70 to buy and Rs278.20 to sell.

Against other major currencies, the rupee also rose on the day, appreciating Rs1.19 or 0.38 per cent against the euro to Rs314.21 and gaining 95.74 paisa, or 0.26 per cent, versus the pound to Rs366.65. It advanced Rs1.42, or 0.43 per cent, against the Swiss franc to Rs332.06, while the yen firmed 0.44 per cent to Rs1.7606. The yuan was the exception, slipping 0.12 per cent to Rs41.34, while the riyal and dirham each edged up only marginally.

Over longer periods, the rupee has appreciated Rs1.04, or 0.38 per cent, against the dollar in the current fiscal year and Rs3.00, or 1.08 per cent, in the calendar year so far. In the money market, the six-month Karachi Interbank Bid and Offer rates rose 3 basis points to 11.80 per cent and 12.05 per cent respectively.