PKR continues upward trend against USD

May 07, 2026 (MLN): The Pakistani rupee (PKR) extended its appreciation streak against the US dollar on Thursday, gaining 1.23 paisa in the interbank market to settle at PKR 278.71 per USD, compared to the previous close of 278.72.

The local currency traded in a narrow range during the session, touching an intraday high of 278.75 and a low of 278.70 against the greenback, showing continued stability in the foreign exchange market.

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

Despite the rupee’s steady performance against the US dollar, it showed mixed movement versus other major global currencies.

The PKR weakened against the Euro by 75.20 paisa or 0.23% to close at 327.92, compared to 327.17 in the previous session. Against the British Pound, the local unit lost 59.65 paisa or 0.16% to settle at 379.65.

Similarly, the rupee depreciated by 1.09 against the Swiss Franc to close at 358.31, while it slipped 8.02 paisa or 0.20% against the Chinese Yuan to settle at 40.97.

Against regional currencies, the PKR declined by 2.84 paisa or 0.04% versus the Saudi Riyal to 74.31.

However, it managed to post gains against the Japanese Yen and the UAE Dirham.

The rupee appreciated 0.17 paisa or 0.10% against the Yen to close at 1.7833, while it edged up 0.43 paisa or 0.01% against the Dirham to settle at 75.89.

The rupee has maintained an overall positive trajectory against the US dollar during the ongoing fiscal year, appreciating by PKR 5.05 or 1.81%.

On a calendar-year basis, the currency has strengthened by PKR 1.41 or 0.51%, supported by improved external account stability, controlled import demand, and steady inflows.

Meanwhile, activity in the money market remained stable, with the benchmark six-month Karachi Interbank Bid and Offer rates holding unchanged at 11.73% and 11.98%, respectively.

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