PKR continues upward trend versus USD

May 20, 2026 (MLN): The Pakistani rupee (PKR) maintained its upward trajectory against the US dollar on Wednesday, marking another session of appreciation in the interbank market amid improving currency stability.

According to market data, the rupee gained 1.14 paisa against the greenback to settle at 278.56 per dollar, compared to the previous closing level of 278.57.

During intraday trading, the local currency moved within a narrow range, touching a high of 278.60 and a low of 278.55 against the US dollar, reflecting relative stability in the foreign exchange market.

In the open market, exchange companies quoted the dollar at 278.70 for buying and 279.60 for selling.

The rupee also posted gains against several major global currencies. It appreciated by Rs1.13 against the Euro to close at 322.80, while gaining 29.39 paisa against the British Pound to settle at 372.78.

Similarly, the local unit strengthened by Rs2.12 against the Swiss Franc and edged higher against the Japanese Yen and Chinese Yuan during the session.

Despite slight depreciation against the Saudi Riyal and UAE Dirham, the rupee has shown an overall strengthening trend in recent months.

Cumulatively, the Pakistani rupee has appreciated by Rs5.20, or 1.87%, against the US dollar during the current fiscal year, while it has gained Rs1.56, or 0.56%, since the start of calendar year 2026.

Meanwhile, money market activity remained firm, with the benchmark six-month Karachi Interbank Bid and Offer rates inching up by 3 basis points to 12.12% and 12.37%, respectively.

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