PKR maintains upward momentum

May 08, 2026 (MLN): Pakistan’s currency maintained its strengthening trend against the US dollar for another session on Friday, with the rupee posting a marginal gain in the interbank market.

The Pakistani rupee appreciated by 0.76 paisa to settle at PKR 278.70 per USD, compared to the previous closing level of PKR 278.71.

During the trading session, the local currency touched an intraday high of PKR 278.75 and a low of PKR 278.70 against the greenback.

In the open market, exchange companies quoted the dollar at PKR 279.00 for buying and PKR 278.75 for selling.

The rupee also posted gains against most major international currencies. Against the Euro, the local unit appreciated by 52.45 paisa or 0.16% to settle at PKR 327.39, compared to the previous close of PKR 327.92.

Similarly, the rupee advanced against the British Pound, gaining 95.80 paisa or 0.25% to close at PKR 378.69 against the prior day’s level of PKR 379.65.

Against the Swiss Franc, PKR strengthened by 51.58 paisa or 0.14% to settle at PKR 357.79.

The domestic currency also appreciated against the Japanese Yen by 0.60 paisa or 0.34%, closing at PKR 1.7773 compared to PKR 1.7833 in the previous session.

Meanwhile, the rupee remained largely stable against the Chinese Yuan, improving marginally by 0.89 paisa to close at PKR 40.97.

Against regional currencies, PKR gained 0.20 paisa against the Saudi Riyal to settle at PKR 74.30, while it appreciated by 0.83 paisa against the UAE Dirham to close at PKR 75.88.

On a cumulative basis, the Pakistani rupee has appreciated by PKR 5.06 or 1.82% against the US dollar during the ongoing fiscal year. In calendar year 2026 so far, the currency has strengthened by PKR 1.42 or 0.51%.

Meanwhile, activity in the money market showed a slight uptick, with the benchmark six-month Karachi Interbank Bid and Offer rates rising by 3 basis points to 11.76% and 12.01%, respectively.

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