PKR holds firm, closes slightly higher

April 28, 2026 (MLN): The Pakistani Rupee posted a marginal gain against the US Dollar on Tuesday, appreciating by 1.11 paisa in the interbank market to close at PKR 278.81 per USD, compared to the previous session’s closing of 278.82.

During intraday trading, the local currency moved within a narrow band, touching a high (bid) of 278.85 and a low (ask) of 278.80, indicating relative stability in the foreign exchange market.

In the open market, exchange companies quoted the dollar at PKR 278.80 for buying and PKR 279.85 for selling, reflecting a slight premium over interbank levels.

The rupee also recorded notable gains against major international currencies. It appreciated by Rs1.09, or 0.33%, against the Euro to settle at 326.31, compared to 327.39 a day earlier.

Against the British Pound, the local unit advanced by Rs1.02, or 0.27%, closing at 376.63 versus 377.65 in the previous session.

The PKR strengthened significantly against the Swiss Franc, gaining Rs1.88, or 0.53%, to end the session at 353.40.

Similarly, the rupee appreciated by 0.44 paisa, or 0.25%, against the Japanese Yen to close at 1.7467 compared to 1.7511 previously.

Against regional currencies, the PKR gained 6.65 paisa, or 0.16%, versus the Chinese Yuan, settling at 40.79 from 40.85.

The local currency also edged higher against Middle Eastern currencies, rising by 0.40 paisa against the Saudi Riyal to 74.33, and by 0.31 paisa against the UAE Dirham to close at 75.91.

On a cumulative basis, the rupee has appreciated by Rs4.95, or 1.78%, against the US dollar during the მიმდინარე fiscal year. On a calendar year basis, it has gained Rs1.31, reflecting a 0.47% improvement in value.

In the money market, short-term liquidity tightened as benchmark 6-month Karachi Interbank Offered Rates (KIBOR) moved higher. The bid rate rose by 43 basis points to 11.62%, while the offer rate increased to 11.87%, indicating a firming interest rate environment.

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