PKR gains marginally, settles at 277.06/USD

According to Mettis Global, the rupee edged up 0.83 paisa in Monday's interbank trading, settling at Rs277.06 per US dollar against Rs277.07 at the previous close. Intraday trade stayed within a narrow band of Rs277.05 to Rs277.10.

In the open market, exchange companies quoted the dollar at Rs277.25 for buying and Rs278.10 for selling. Against other major currencies, the rupee appreciated 0.28 per cent against the euro to close at Rs310.73, while it weakened 0.19 per cent against the pound to Rs366.57.

Over the current fiscal year the rupee has strengthened 0.40 per cent against the dollar, and on a calendar-year basis the gain is Rs3.06 or 1.10 per cent. In the money market, the six-month Karachi Interbank Bid and Offer rates rose 4 basis points to 12.14 per cent and 12.39 per cent respectively.