PKR firms up against USD, KIBOR falls 1bps

October 22, 2026 (MLN): The Pakistani rupee appreciated marginally against the US dollar in the interbank market on Thursday, closing at Rs276.85 compared with the previous session’s rate of Rs276.87.

During the session, the dollar’s buying and selling rates both stood at Rs276.85. In the open market, exchange companies quoted the dollar at Rs277.20 for buying and Rs280.00 for selling.

Against other major currencies, the rupee posted losses against the euro, British pound, Swiss franc, Japanese yen and Chinese yuan.

The local currency depreciated by 57.37 paisa, or 0.18%, against the euro, closing at Rs311.14 compared with Rs310.57 a day earlier.

Against the British pound, the rupee fell by Rs1.72, or 0.47%, to settle at Rs371.22 from Rs369.50 in the previous session.

The rupee also weakened by Rs1.57, or 0.47%, against the Swiss franc to close at Rs337.28.

Against the Japanese yen, the local currency depreciated by 1.11 paisa, or 0.63%, with the exchange rate rising to Rs1.7622 from Rs1.7511.

Similarly, the rupee lost 3.04 paisa, or 0.07%, against the Chinese yuan, closing at Rs41.49 compared with Rs41.46 previously.

Meanwhile, the rupee strengthened against regional currencies. It gained 0.91 paisa against the Saudi riyal to reach Rs73.80 and appreciated by 0.73 paisa against the UAE dirham to close at Rs75.38.

Since the beginning of the current fiscal year, the rupee has gained Rs1.31, or 0.47%, against the US dollar. Its appreciation against the greenback has reached Rs3.27, or 1.18%, since the start of the calendar year.

In the money market, the benchmark six-month Karachi Interbank Bid and Offer rates (KIBOR) declined by one basis point to 12.18% and 12.43%, respectively.

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