PKR strengthens marginally against USD

Mettis Global reported that the rupee firmed up very slightly against the dollar on Tuesday, ending the day at Rs277.05 in the interbank market. That compares with Rs277.06 at the previous close. During trading the currency moved between Rs277.10 and Rs277.05 per dollar.

Exchange companies in the open market quoted the dollar at Rs277.50 to buy and Rs280.00 to sell. Against other majors the rupee weakened 69.69 paisa, or 0.22%, versus the euro, which settled at Rs311.42 from Rs310.73, and it also slipped against the pound to Rs366.78. It gained Rs1.14, or 0.34%, against the Swiss franc, closing at Rs333.06.

Since the start of the fiscal year the rupee has appreciated Rs1.11, or 0.40%, against the dollar. Measured from the start of the calendar year, the gain stands at Rs3.07, or 1.11%. In the money market, the six-month Karachi Interbank Bid and Offer rates held steady at 12.14% and 12.39%.