PKR extends gains against USD

June 12, 2026 (MLN): The Pakistani rupee further consolidated its gains against the US dollar on Friday, ending the interbank session at PKR 278.32 after appreciating 2.87 paisa, taking its cumulative gain in FY26 to nearly 2%.

During trading hours, the rupee moved within a range of PKR 278.30 to PKR 278.50 against the greenback, compared with the previous session's closing level of PKR 278.35.

In the open market, exchange companies quoted the US dollar at PKR 278.25 for buying and PKR 279.40 for selling.

The latest advance reflects the rupee's gradual strengthening trend, with the currency now gaining Rs5.44, or 1.96%, against the dollar during FY26.

On a calendar-year basis, the rupee has appreciated by Rs1.80, or 0.65%, highlighting continued resilience in the domestic currency market.

Against other major currencies, however, the rupee posted a mixed performance. It weakened by 66.28 paisa against the euro to close at PKR 321.96, while declining 50.44 paisa against the British pound to PKR 372.94.

The local unit also lost ground against the Swiss franc, depreciating Rs1.28 to settle at PKR 349.50. Similarly, it slipped 0.27 paisa against the Japanese yen to PKR 1.7369, and weakened 8.69 paisa against the Chinese yuan to PKR 41.16.

In contrast, the rupee registered gains against Gulf currencies, strengthening 1.36 paisa versus the Saudi riyal to PKR 74.14 and 0.57 paisa against the UAE dirham to PKR 75.78.

Meanwhile, activity in the money market remained largely steady, with the benchmark six-month Karachi Interbank Bid and Offer rates edging up by 2 basis points to 12.31% and 12.56%, respectively.

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