Pakistani Rupee Edges Up Against Dollar in Interbank Trading

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 weakened against several other major currencies, closing at Rs309.80 per euro, Rs371.19 per pound, Rs337.11 per Swiss franc, Rs1.7592 per yen, and Rs41.58 per yuan. It strengthened against the Saudi riyal and UAE dirham, ending at Rs73.75 and Rs75.35, respectively. For the current fiscal year, the rupee has appreciated by Rs1.41 (0.51%) against the dollar, with a calendar year-to-date gain of Rs3.37 (1.22%).

Additionally, six-month KIBOR increased by 2 basis points, with the bid at 12.41% and the offer at 12.66%. These currency and benchmark borrowing-rate indicators offer investors valuable insight into prevailing foreign-exchange and money-market conditions.

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