PKR strengthens to 276.9 against USD

Interbank trading on Monday saw the rupee firm slightly against the dollar, with the currency closing at Rs276.90, according to Mettis Global. That marked a gain of 0.93 paisa from the previous session's close of Rs276.91. Within the day, the dollar's bid peaked at Rs277.00 while its ask dipped to Rs276.90.

Exchange companies quoted the dollar in the open market at Rs277.25 to buy and Rs279.75 to sell. Against other major currencies the rupee moved in both directions. It gained 91.03 paisa, or 0.29 per cent, against the euro, which settled at Rs310.42. It lost ground to the pound, which closed at Rs368.88, and to the Swiss franc, which settled at Rs335.80.

Measured from the start of the fiscal year, the rupee has gained Rs1.26, or 0.45 per cent, against the dollar. Over the calendar year so far, the cumulative gain stands at Rs3.22, or 1.16 per cent. In the money market, the six-month KIBOR bid and offer each rose by 1 basis point, to 12.19 and 12.44 per cent respectively.