PKR posts marginal gain against USD

Mettis Global reported that the rupee ended Friday, October 30, at Rs276.75 per US dollar in interbank trade, slightly firmer than its prior close of Rs276.76. Its session range was a bid of Rs276.80 and an ask of Rs276.70, while exchange companies listed dollar buying at Rs277.25 and selling at Rs279.75.

The local currency lost ground against several other currencies: it closed at Rs309.80 per euro, Rs371.19 per pound, Rs337.11 per Swiss franc, Rs1.7592 per yen and Rs41.58 per yuan. It gained against the Saudi riyal and UAE dirham, ending at Rs73.75 and Rs75.35 respectively. The rupee's appreciation against the dollar stood at Rs1.41, or 0.51%, for the fiscal year to date and Rs3.37, or 1.22%, in the calendar year to date.

Separately, six-month KIBOR rose by 2 basis points, with the bid at 12.41% and offer at 12.66%. The currency and benchmark borrowing-rate figures provide investors with a snapshot of foreign-exchange and money-market conditions.