PKR extends winning streak against USD

May 12, 2026 (MLN): The Pakistani rupee continued its upward momentum against the US dollar on Tuesday, marking another session of gains in the interbank market as the local currency settled at PKR 278.66 per USD, a gain of 1.15 paisa over the previous close of 278.67.

Trading remained relatively stable throughout the session, with the rupee touching an intraday high bid of 278.70 and a low ask of 278.65, showing measured confidence among market participants.

In the open market, exchange companies quoted the greenback at 278.75 for buying and 279.70 for selling.

The rupee's resilience was not limited to the dollar. The local unit put up a broad-based strong performance across major global currencies.

It appreciated 84.95 paisa, or 0.26%, against the Euro to close at 327.26, and surged 2.59 rupees, or 0.68%, against the British Pound to settle at 376.46.

Against the Swiss Franc, PKR gained 1.25 rupees or 0.35% to close at 356.85, while it rose 0.49 paisa or 0.28% versus the Japanese Yen to close at 1.7688.

The rupee also edged higher against the Saudi Riyal by 1.10 paisa to 74.27 and gained 0.31 paisa against the UAE Dirham, closing at 75.87. Against the Chinese Yuan, the currency remained largely flat.

The bigger picture tells an even more encouraging story. Since the start of the current fiscal year, the rupee has gained a cumulative 5.10 rupees, or 1.83%, against the US dollar a trajectory that underscores a sustained recovery in Pakistan's currency markets.

Even on a calendar-year basis, PKR has appreciated 1.46 rupees, or 0.52%, pointing to growing stability and renewed investor confidence.

In the money market, the benchmark 6-month Karachi Interbank Bid and Offer (KIBOR) rates edged up marginally by 3 basis points, settling at 11.81% and 12.06%, respectively.

Performance Summary

52 Week Performance

Copyright Mettis Link News