PKR holds firm against dollar, settles at 277.01

Mettis Global reported that the rupee firmed slightly against the US dollar on Thursday, closing interbank trading at 277.01 after finishing the prior session at 277.02. During the day the currency stayed in a very narrow band, with an intraday bid of 277.00 and an ask of 277.00. In the open market, exchange firms priced the greenback at 277.20 to buy and 280.00 to sell.

Mettis Global added that the rupee also gained ground against most other major currencies. Against the euro it picked up 20.30 paisa, or 0.07%, to close at 309.89, and versus the pound it gained Rs1.20, or 0.33%, settling at 365.56. The Swiss franc saw a 32.86 paisa, or 0.10%, gain to 332.11, whereas the Chinese yuan slipped 1.58 paisa, or 0.04%, to 41.33.

So far this fiscal year, the rupee is up Rs1.15, or 0.41%, against the dollar, while calendar-year gains total Rs3.11, or 1.12%. In the money market, six-month KIBOR bid and offer rates held steady at 12.13% and 12.38%.