PKR maintains upward momentum against USD

May 05, 2026 (MLN): The Pakistani Rupee (PKR) continued its gradual but consistent appreciation against the US Dollar, strengthening by 0.98 paisa to settle at PKR 278.75 in Tuesday’s interbank trade.

During the trading session, the local currency fluctuated within a narrow band, touching an intraday high (bid) of PKR 278.80 and a low (ask) of PKR 278.75, indicating relative stability in the foreign exchange market.

In the open market, exchange companies quoted the US Dollar at PKR 278.80 for buying and PKR 279.80 for selling, reflecting a modest spread amid steady demand.

The rupee also demonstrated broad-based strength against major global currencies. It appreciated by 59.69 paisa, or 0.18%, against the Euro to settle at PKR 325.92 compared to the previous close of PKR 326.51.

Similarly, the local unit gained 55.68 paisa, or 0.15%, against the British Pound, ending at PKR 377.46 versus PKR 378.01 a day earlier.

Against the Swiss Franc, the rupee strengthened by 3.52 paisa to close at PKR 355.89. It also advanced against the Japanese Yen, rising by 0.36 paisa, or 0.20%, to PKR 1.7726.

Meanwhile, the domestic currency remained largely stable against regional currencies. It inched up by 0.14 paisa against the Chinese Yuan to close at PKR 40.81.

The rupee also recorded gains of 2.83 paisa, or 0.04%, against the Saudi Riyal to settle at PKR 74.30, while it marginally improved by 0.16 paisa against the UAE Dirham to close at PKR 75.90.

On a cumulative basis, the rupee has appreciated by PKR 5.01, or 1.80%, against the US Dollar during the current fiscal year. On a calendar year basis, it has strengthened by PKR 1.37, or 0.49%, reflecting gradual currency stability.

In the money market, the benchmark 6-month Karachi Interbank Bid and Offer rates edged up by 1 basis point each, settling at 11.72% and 11.97%, respectively, indicating slight tightening in short-term liquidity conditions.

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