PKR edges up to Rs277 against USD

According to Mettis Global, the rupee gained marginally in interbank trading on Friday, closing at Rs277.00 per dollar. Within the session, the top bid reached Rs277.05 while the lowest ask stood at Rs277.00. Exchange companies in the open market offered buying rates of Rs277.25 and selling rates of Rs278.05 per dollar.

The rupee lost ground against several major currencies, with the euro closing at Rs310.95, up Rs1.06 or 0.34%, and the pound at Rs366.85 after a Rs1.29 or 0.35% rise. The Swiss franc settled at Rs333.44, while the Chinese yuan closed at Rs41.39. The rupee firmed against the Japanese yen, which settled at Rs1.7501.

So far in the fiscal year, the rupee has strengthened Rs1.16 or 0.42% against the dollar, and it has gained Rs3.12 or 1.13% on a calendar-year basis. Separately, the six-month KIBOR bid and offer rates rose by 3 basis points, to 12.16% and 12.41% respectively, according to the report.