PKR gains 3 paisa against USD

Mettis Global reported a small rise for the Pakistani rupee against the greenback in Thursday's interbank session. The currency closed at Rs276.92, compared with Rs276.95 in the previous session, a move of 3.24 paisa. Intraday, the rupee ranged from Rs277.00 on the bid side to Rs276.90 on the ask side.

Among the other major currencies, results were mixed for the rupee. It firmed 22.29 paisa versus the pound, which now stands at Rs367.18, yet weakened 72.54 paisa against the euro, where the rate reached Rs310.78. The local unit also shed Rs1.89 against the Swiss franc, closing at Rs334.12, while the yen moved to Rs1.7551 from Rs1.7478.

Fiscal year to date, the rupee has firmed Rs1.24, or 0.45 per cent, versus the dollar. Over the calendar year the gain comes to Rs3.20, or 1.16 per cent. Exchange companies in the open market priced the dollar at Rs277.25 to buy and Rs278.00 to sell, while the six-month KIBOR rose 1bp to a bid of 12.18 per cent and an offer of 12.43 per cent.