PKR extends gains against USD, closes at 276.82

The Pakistani rupee gained 2.86 paisa against the US dollar in interbank trading on Monday, ending at PKR 276.82, Mettis Global reported. Exchange companies quoted the dollar at PKR 277.20 to buy and PKR 280.00 to sell, while the rupee also advanced against the euro, pound, Swiss franc, Saudi riyal and UAE dirham. It lost ground against the Japanese yen and Chinese yuan.

The currency’s rise against the dollar stands at Rs1.34, or 0.48%, so far in the current fiscal year, and Rs3.30, or 1.19%, since the start of the calendar year. In the money market, six-month KIBOR increased by 4 basis points, with its bid at 12.20% and offer at 12.45%. The figures provide a snapshot of currency and short-term borrowing benchmarks relevant to businesses and investors.