PKR extends gains against USD

October 28, 2026 (MLN): The Pakistani rupee strengthened against the US dollar in the interbank market on Wednesday, gaining 2.86 paisa to close at PKR 276.77, compared with the previous session's closing rate of PKR 276.80.

During the session, the dollar traded at an intraday high bid of PKR 276.80 and a low ask of PKR 276.70.

In the open market, exchange companies quoted the dollar at PKR 277.25 for buying and PKR 279.75 for selling.

Against other major currencies, the rupee posted gains against most currencies. It appreciated by 79.30 paisa, or 0.26%, against the euro, closing at PKR 307.86 compared with PKR 308.65 in the previous session.

The local currency also strengthened against the British pound, rising by 90.99 paisa, or 0.25%, to settle at PKR 367.86 from PKR 368.77 a day earlier.

Against the Swiss franc, the rupee gained 73.88 paisa, closing at PKR 333.38. It also appreciated by 0.09 paisa, or 0.05%, against the Japanese yen to settle at PKR 1.7547, compared with PKR 1.7556 in the preceding session.

However, the rupee weakened marginally against the Chinese yuan, losing 0.10 paisa to close at PKR 41.52 against PKR 41.51 previously. It also declined by 0.03 paisa against the Saudi riyal to settle at PKR 73.76.

Meanwhile, the rupee strengthened by 0.67 paisa against the UAE dirham, closing at PKR 75.35.

Since the beginning of the current fiscal year, the rupee has gained PKR 1.39, or 0.50%, against the US dollar. Its appreciation against the greenback has reached PKR 3.35, or 1.21%, so far in the current calendar year.

In the money market, the benchmark six-month Karachi Interbank Bid and Offer rates (KIBOR) increased by 1 basis point each, with the bid rate rising to 12.21% and the offer rate reaching 12.46%.

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