PKR holds firm, edges higher against USD

April 27, 2026 (MLN): The Pakistani rupee extended its remarkable winning streak against the US dollar, notching its 147th straight session of appreciation in Monday's interbank trading as the local currency continues to demonstrate resilience in the foreign exchange market.

The rupee edged up 3.02 paisa against the greenback during the interbank session, settling at PKR 278.82 per dollar compared to Friday's close of PKR 278.85.

During intraday trading, the exchange rate fluctuated between a high bid of PKR 279.00 and a low ask of PKR 278.80.

In the open market, exchange companies were quoting the dollar at PKR 279.00 for buying and PKR 280.00 for selling.

The sustained upward momentum has now translated into meaningful cumulative gains.

Since the start of the current fiscal year, the rupee has strengthened by PKR 4.94, or 1.77%, against the dollar, while gains of PKR 1.30, or 0.47%, have been recorded so far in the 2026 calendar year.

Despite the bullish run against the dollar, the rupee faced headwinds against several other major currencies.

The local unit shed PKR 1.55, or 0.48%, against the Euro, closing at PKR 327.39 versus the prior session's PKR 325.84.

Against the British Pound, the rupee weakened by PKR 1.97, or 0.52%, to settle at PKR 377.65 compared to PKR 375.69 in the previous session.

The rupee also lost ground against the Swiss Franc, declining 93.23 paisa or 0.26% to close at PKR 355.28.

Against the Japanese Yen, the currency slipped 0.50 paisa or 0.29%, closing at PKR 1.7511 compared to PKR 1.7461 a session earlier.

The Chinese Yuan also weighed on the rupee, which fell 5.86 paisa or 0.14% to PKR 40.85 from PKR 40.79.

On a brighter note, the rupee held firm against Gulf currencies. It gained 0.90 paisa, or 0.01%, against the Saudi Riyal to close at PKR 74.34, and strengthened by 0.72 paisa, against the UAE Dirham, settling at PKR 75.91.

In the domestic money market, the benchmark six-month Karachi Interbank Bid and Offer (KIBOR) rates inched higher by one basis point, with the bid rate rising to 11.19% and the offer rate moving up to 11.44%.

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