PKR holds ground against USD

July 07, 2026 (MLN): The Pakistani rupee remained broadly stable against the US dollar in Tuesday's interbank trading, posting a marginal gain of 0.77 paisa to close at PKR 278.15 per USD, compared with the previous session's close of PKR 278.16.

During the trading session, the local currency touched an intraday high (bid) of PKR 278.15 and a low (ask) of PKR 278.10 against the greenback.

In the open market, exchange companies quoted the US dollar at PKR 278.25 for buying and PKR 279.15 for selling.

Against other major international currencies, the rupee mostly weakened. It lost 61.72 paisa (0.19%) versus the Euro to settle at PKR 317.54, compared with PKR 316.92 in the previous session.

The local unit also declined sharply against the British Pound, falling PKR 3.33 (0.90%) to close at PKR 371.35, down from PKR 368.02.

Similarly, the rupee depreciated PKR 1.85 (0.54%) against the Swiss Franc, ending the session at PKR 345.47, while it weakened 1.09 paisa (0.64%) against the Japanese Yen to PKR 1.7249.

Among regional currencies, the rupee edged up 0.66 paisa (0.02%) against the Chinese Yuan to finish at PKR 40.99 from PKR 41.00.

However, it slipped 1.38 paisa (0.02%) against the Saudi Riyal to PKR 74.08, while registering a marginal gain of 0.21 paisa against the UAE Dirham, closing at PKR 75.74.

So far in the current fiscal year, the rupee has appreciated 0.77 paisa against the US dollar. On a calendar-year basis, the local currency has strengthened by PKR 1.97, showing a gain of 0.71%.

Meanwhile, activity in the money market remained subdued, with the benchmark six-month Karachi Interbank Bid and Offer rates easing by 3 basis points to 11.39% and 11.64%, respectively.

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