PKR posts marginal gain versus USD

May 04, 2026 (MLN): Continuing its recent appreciation trend, the Pakistani rupee (PKR) posted a slight gain against the US dollar on Monday. The local unit inched up by 1.22 paisa to close at 278.76 in the interbank market, improving from the previous session’s 278.77.

During intraday trading, the currency fluctuated within a narrow band, reaching a high (bid) of 279.05 and a low (ask) of 278.75, indicating limited volatility in the market.

In the open market, exchange companies quoted the US dollar at 279.00 for buying and 279.85 for selling, showing a modest premium over interbank rates.

Despite the slight improvement against the dollar, the rupee showed weakness against several major international currencies. It depreciated by 82.20 paisa, or 0.25%, against the Euro to settle at 326.51 compared to 325.69 in the previous session.

Against the British Pound, the rupee declined by 1.92 rupees, or 0.51%, closing at 378.01 versus 376.09 a day earlier. Similarly, the local unit lost ground against the Swiss Franc, falling by 3.16 rupees, or 0.90%, to close at 355.93.

The rupee also weakened against the Japanese Yen, dropping 3.52 paisa, or 2.02%, to 1.7762 compared to 1.7410 in the prior session. Against the Chinese Yuan, it slipped by 2.03 paisa, or 0.05%, to close at 40.81.

On the other hand, the rupee recorded minor gains against some regional currencies. It appreciated slightly against the Saudi Riyal, rising by 0.33 paisa to 74.33. Similarly, it edged up by 0.12 paisa against the UAE Dirham to settle at 75.90.

On a broader scale, the rupee has shown resilience against the US dollar during the ongoing fiscal year, gaining 5.00 rupees, or 1.79%. On a calendar year basis, the currency has strengthened by 1.36 rupees, reflecting a 0.49% appreciation so far.

Meanwhile, activity in the money market remained steady, with the benchmark 6-month Karachi Interbank Bid and Offer rates holding unchanged at 11.71% and 11.96%, respectively.

The rupee’s narrow movement against the dollar suggests a stable near-term outlook, although pressure from global currencies may persist amid external account dynamics and international market trends.

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