PKR holds firm against USD

June 23, 2026 (MLN): The Pakistani rupee continued its upward trajectory against the US dollar in Tuesday's interbank session, appreciating 0.94 paisa to settle at PKR 278.21 per USD, as against the previous close of 278.22 showing persistent buying momentum in the local currency.

Intraday movement remained measured, with the rupee touching a high (bid) of 278.25 and a low (ask) of 278.20 during the session. In the open market, exchange companies quoted the greenback at 278.50 for buying and 279.30 for selling.

The rupee's strength extended to several major currencies. Against the Euro, PKR gained 87.33 paisa, or 0.27%, closing at 317.56 versus the prior session's 318.44.

The local unit also firmed 13.93 paisa, or 0.04%, against the Swiss franc to settle at 343.85, while it strengthened 5.10 paisa, or 0.12%, against the Chinese yuan to close at 41.00 from 41.05.

Against the Saudi riyal, PKR edged up 1.24 paisa, or 0.02%, to 74.10.

However, the rupee shed some ground against select currencies. It slipped 1.13 rupees, or 0.31%, against the British pound to 368.17, and depreciated 0.39 paisa, or 0.23%, against the Japanese yen to close at 1.7243.

A marginal deterioration of 0.15 paisa was also recorded against the UAE dirham, with the rate settling at 75.75.

On a broader horizon, the rupee's recovery trend remains firmly intact. Since the start of the current fiscal year, PKR has appreciated 5.55 rupees, or 2.00%, against the US dollar. Calendar year-to-date gains stand at 1.91 rupees, or 0.69%, emphasizing the currency's sustained recovery path.

In the money market, the benchmark six-month Karachi Interbank Bid and Offer rates eased one basis point each to 11.74% and 11.99%, respectively.

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