PKR holds firm, posts marginal gain vs USD

April 29, 2026 (MLN): The Pakistani rupee (PKR) recorded a marginal appreciation against the US dollar in Wednesday’s interbank foreign exchange session, gaining 0.83 paisa to close at PKR 278.80 per USD compared to the previous day’s closing level of 278.81.

During the trading session, the local currency traded within a narrow band, touching an intraday high (bid) of 278.85 and a low (ask) of 278.80, reflecting subdued volatility in the market.

In the open market, exchange companies quoted the US dollar at 278.90 for buying and 279.85 for selling.

Against major global currencies, the rupee showed mixed but largely stable performance. It appreciated by 12.12 paisa (0.04%) against the euro to settle at 326.19, compared to 326.31 in the previous session.

The local unit also strengthened against the British pound by 24.82 paisa (0.07%), closing at 376.38 versus 376.63 a day earlier.

The rupee gained 16.72 paisa (0.05%) against the Swiss franc, finishing at 353.23, while it improved slightly against the Japanese yen by 0.06 paisa (0.03%) to close at 1.7461.

In contrast, the currency weakened against the Chinese yuan by 2.75 paisa (0.07%) to 40.81 from 40.79. Against the Saudi riyal, the rupee edged down by 0.08 paisa to 74.33, while it remained nearly unchanged against the UAE dirham, inching up marginally to 75.91.

On a broader timeframe, the Pakistani rupee has appreciated by Rs4.96 (1.78%) against the US dollar during the current fiscal year. Year-to-date, it has also gained Rs1.32 (0.47%) so far in the ongoing calendar year.

In the money market, benchmark 6-month Karachi Interbank Bid and Offer rates increased by 2 basis points, reaching 11.64% and 11.89% respectively.

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