PKR edges higher against USD

June 03, 2026 (MLN): The Pakistani rupee (PKR) continued its upward trajectory against the US dollar on Wednesday, posting a modest gain in the interbank market amid stable foreign exchange conditions.

According to market data, the local currency appreciated by 1.16 paisa against the greenback, settling at PKR 278.45 per US dollar, compared with the previous closing level of PKR 278.46.

During the trading session, the rupee moved within a narrow range, touching an intraday high of PKR 278.50 and a low of PKR 278.45 against the dollar, reflecting relative stability in the foreign exchange market.

In the open market, exchange companies quoted the US dollar at PKR 278.60 for buying and PKR 279.50 for selling.

The rupee also recorded gains against most major international currencies.

Against the euro, the local unit strengthened by 98.80 paisa, or 0.30%, closing at PKR 323.42 compared with the previous day's PKR 324.41.

The British pound declined against the rupee as the local currency appreciated by 54.46 paisa, or 0.15%, to settle at PKR 374.64, versus PKR 375.19 in the previous session.

Similarly, the rupee advanced 2.10 rupees, or 0.59%, against the Swiss franc, ending the day at PKR 352.74.

Against the Chinese yuan, the Pakistani currency gained 5.95 paisa, or 0.14%, to close at PKR 41.12, compared with PKR 41.18 a day earlier.

The local unit also posted marginal gains against regional currencies, appreciating 2.28 paisa against the Saudi riyal to PKR 74.18, while edging up 0.21 paisa against the UAE dirham to PKR 75.82.

However, the rupee registered a slight decline against the Japanese yen, weakening by 0.01 paisa to close at PKR 1.7440.

The rupee has maintained a positive performance against the US dollar during the ongoing fiscal year. Since the start of FY2025-26, the currency has appreciated by PKR 5.31, representing a gain of 1.91%.

On a calendar-year basis, the rupee has strengthened by PKR 1.67, or 0.60%, against the dollar, highlighting continued exchange-rate stability despite global market uncertainties.

Meanwhile, activity in the money market remained largely unchanged. The benchmark six-month Karachi Interbank Bid and Offer Rates (KIBOR) held steady at 12.23% and 12.48%, respectively, indicating stable liquidity conditions in the banking system.

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