Pakistani Rupee Posts Marginal Gain Against Dollar, Closes at 276.80

The Pakistani rupee edged higher against the US dollar on Tuesday, closing at Rs276.80 in the interbank market—a gain of 2.14 paisa from the previous session’s close of Rs276.82, according to Mettis Global. In the open market, exchange companies quoted the dollar at Rs277.30 for buying and Rs280.00 for selling.

The local unit also appreciated against the euro, British pound, Swiss franc, Japanese yen, and UAE dirham. The euro settled at Rs308.65, the pound at Rs368.77, the Swiss franc at Rs334.12, and the yen at Rs1.7556. Conversely, the rupee weakened slightly against the Chinese yuan and Saudi riyal.

For the fiscal year to date, the rupee has strengthened by Rs1.36, or 0.49%, against the dollar, while the calendar-year gain stands at Rs3.32, or 1.20%. Six-month Karachi Interbank Bid and Offer rates held steady at 12.20% and 12.45%, respectively.

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