PKR appreciates slightly against USD

May 11, 2026 (MLN): The Pakistani rupee (PKR) continued its upward momentum against the US dollar on Monday, posting a modest gain in the interbank market as it appreciated by 3.02 paisa.

The local currency closed at PKR 278.67 per USD, compared to the previous day’s closing of 278.70.

During the trading session, the rupee recorded an intraday high (bid) of 278.70 and a low (ask) of 278.65, showing stable movement within a narrow range as demand-supply dynamics remained balanced.

In the open market, exchange companies quoted the dollar at 278.80 for buying and 279.75 for selling.

While the rupee strengthened against the US dollar, it showed mixed performance versus other major currencies.

It weakened by 71.69 paisa (0.22%) against the euro to close at 328.11, compared to 327.39 a day earlier.

Against the British pound, the local currency depreciated by 36.31 paisa (0.10%) to settle at 379.05, while it declined by 30.60 paisa (0.09%) against the Swiss franc, closing at 358.10.

In contrast, the rupee gained slightly against the Japanese yen, appreciating by 0.36 paisa (0.20%) to close at 1.7737.

It also weakened by 4.02 paisa (0.10%) against the Chinese yuan, ending the session at 41.01.

Against Gulf currencies, the rupee showed marginal strength, rising 2.00 paisa (0.03%) against the Saudi riyal to 74.28, while remaining unchanged against the UAE dirham at 75.88.

On a broader scale, the Pakistani rupee has remained on an appreciating trend against the US dollar during the current fiscal year.

It has gained PKR 5.09 (1.83%) so far in FY, while also strengthening by PKR 1.45 (0.52%) in the calendar year to date.

In the money market, benchmark 6-month Karachi Interbank Bid and Offer rates edged higher by 2 basis points, reaching 11.78% and 12.03%, respectively.

Overall, the latest session highlights continued stability and gradual strengthening of the Pakistani rupee against the US dollar, even as it remains mixed against other global currencies.

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