PKR edges higher, Rupee stands firm against USD

May 14, 2026 (MLN): The Pakistani rupee edged higher against the US dollar on Thursday, extending its gradual recovery as the local currency settled at PKR 278.62 per dollar in the interbank market an improvement of 3.05 paisa from the previous close of 278.65.

During the day, the currency moved within a narrow band, touching an intraday high of 278.70 on the bid side and a low of 278.60 on the ask side.

In the open market, exchange companies quoted the dollar at 279.20 for buying and 279.65 for selling.

The rupee also demonstrated broad-based strength against several major global currencies.

It rose 0.78 paisa against the Euro to close at 326.24, while posting a more significant gain of 45.91 paisa against the British Pound to settle at 376.40.

Against the Swiss Franc, the local unit appreciated by 31.25 paisa to close at 356.23, and gained 0.17 paisa against the Japanese Yen to finish the session at 1.7645.

The rupee also inched higher against the Saudi Riyal and UAE Dirham, gaining 0.22 paisa and 0.21 paisa to close at 74.26 and 75.86 respectively.

The only exception was the Chinese Yuan, against which the rupee slipped marginally by 1.27 paisa, or 0.03%, to close at 41.05.

On a broader scale, the rupee's recovery trajectory over the current fiscal year paints an encouraging picture.

The local currency has strengthened against the US dollar by 5.14 rupees, or 1.85%, since the fiscal year began, while recording a gain of 1.50 rupees, or 0.54%, in the calendar year to date.

In the money market, the benchmark 6-Month Karachi Interbank Bid and Offer rates rose by 14 basis points, with the bid rate climbing to 11.95% and the offer rate reaching 12.20%, pointing to a slight tightening in short-term interbank liquidity.

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