PKR maintains uptrend against USD

May 21, 2026 (MLN): The Pakistani rupee continued its upward momentum against the US dollar in Thursday's interbank trading session, marking another positive close as the local currency settled at PKR 278.55 per USD an improvement of 0.87 paisa over the previous session's close of 278.56.

During intraday trading, the rupee demonstrated resilience, touching a session high of 278.60 and a low of 278.55 on the bid and ask sides respectively, showing steady demand for the local unit.

In the open market, exchange companies quoted the greenback at 278.80 for buying and 279.60 for selling.

The rupee's gains against the dollar add to an already impressive run this fiscal year.

The PKR has now strengthened by 5.21 rupees or 1.87% against the US dollar since the start of the current fiscal year, with calendar-year gains also standing firm at 1.57 rupees or 0.56% a testament to the currency's sustained recovery trajectory.

On the domestic money market front, the benchmark 6-Month Karachi Interbank Bid and Offer (KIBOR) rates edged up by 16 basis points, settling at 12.28% and 12.53% respectively.

The rupee also posted marginal gains against regional currencies, appreciating 0.23 paisa against the Saudi Riyal to close at 74.23, and gaining 0.03 paisa against the UAE Dirham to settle at 75.85 further signalling a broadly firmer tone for the local unit.

Market participants remain cautiously optimistic, as the rupee's consistent performance against the dollar continues to reinforce confidence in Pakistan's ongoing macroeconomic stabilisation efforts.

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