PKR ends slightly higher against USD

July 03, 2026 (MLN): The Pakistani rupee posted a marginal gain against the US dollar in the interbank market on Friday, appreciating by 0.77 paisa to close at PKR 278.15 per dollar, compared with the previous session's closing level of PKR 278.16.

During trading hours, the local currency touched an intraday high of PKR 278.10 (ask) and a low of PKR 278.30 (bid).

In the open market, exchange companies quoted the US dollar at PKR 278.50 for buying and PKR 279.20 for selling.

Against other major currencies, however, the rupee remained under pressure. It weakened by 61.72 paisa (0.19%) versus the euro to settle at PKR 317.54, compared with PKR 316.92 in the previous session.

The local currency also depreciated against the British pound, losing PKR 3.33 (0.90%) to close at PKR 371.35, versus PKR 368.02 a day earlier.

Similarly, the rupee declined by PKR 1.85 (0.54%) against the Swiss franc, ending the session at PKR 345.47.

Against the Japanese yen, the rupee slipped by 1.09 paisa (0.64%) to PKR 1.7249, compared with PKR 1.7140 in the previous trading session.

In regional currencies, the rupee strengthened slightly against the Chinese yuan, gaining 0.66 paisa (0.02%) to close at PKR 40.99, compared with PKR 41.00 previously.

Meanwhile, the local unit edged lower against the Saudi riyal by 1.38 paisa (0.02%) to PKR 74.08, while it registered a marginal improvement of 0.21 paisa against the UAE dirham to settle at PKR 75.74.

On a cumulative basis, the rupee has appreciated by 0.77 paisa against the US dollar during the current fiscal year. Since the start of the 2026 calendar year, the local currency has strengthened by PKR 1.97, representing an appreciation of 0.71%.

In the money market, the benchmark six-month Karachi Interbank Bid and Offer Rates (KIBOR) declined by 3 basis points, with the bid rate settling at 11.48% and the offer rate at 11.73%.

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