PKR extends rally, eyes stronger levels ahead

April 24, 2026 (MLN): The Pakistani Rupee (PKR) continued its upward trajectory against the US Dollar on Friday, marked another session of steady appreciation in the interbank market.

The local currency strengthened by 0.81 paisa to close at PKR 278.85 per USD, slightly improving from the previous day’s closing of PKR 278.86.

During the trading session, the rupee demonstrated relative stability, touching an intraday high of PKR 279.00 and a low of PKR 278.85 against the greenback.

The consistent gains show sustained positive sentiment in the currency market.

In the open market, exchange companies quoted the US Dollar at PKR 278.90 for buying and PKR 279.90 for selling, indicating a narrow spread and stable demand-supply dynamics.

The PKR also showed broad-based strength against major international currencies.

It appreciated by 52.53 paisa, or 0.16%, against the Euro to settle at 325.84, compared to 326.37 in the previous session. Similarly, the local unit gained 42.92 paisa, or 0.11%, against the British Pound, closing at 375.69.

Against the Swiss Franc, the rupee recorded a notable increase of 1.09 rupees, or 0.31%, ending the session at 354.35. It also posted marginal gains versus the Japanese Yen, rising by 0.08 paisa to close at 1.7461.

In regional currency movements, the PKR strengthened by 1.97 paisa against the Chinese Yuan to close at 40.79.

It also edged higher against Middle Eastern currencies, gaining 0.32 paisa against the Saudi Riyal to 74.35, and 1.35 paisa against the UAE Dirham to settle at 75.92.

On a broader scale, the rupee has maintained a firm footing throughout the fiscal year, appreciating by PKR 4.91, or 1.76%, against the US Dollar.

On a calendar year basis, it has strengthened by PKR 1.27, showing a gain of 0.46%.

Meanwhile, activity in the money market remained relatively calm, with the benchmark 6-month Karachi Interbank Bid and Offer rates easing by 1 basis point to 11.18% and 11.43%, respectively.

The continued appreciation trend of the rupee suggests improving external account stability and controlled currency volatility, reinforcing confidence among market participants.

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